article thumbnail

9 Unexpected Reasons Why Key Account Management is Important

Account Manager Tips

Key account management is the secret to grow revenue and customer retention. Importance of key account management Existing business is cheaper and more profitable than new business. Account growth, renewals and advocacy are difficult for indirect suppliers because procurement focus on spend management. Pass it on.

article thumbnail

What is Key Account Management? (It’s Not What You Think)

Account Manager Tips

Over the years, as buyers became more powerful; customers went global; costs came under pressure; the supply chain became more complex It became clear that one person could not do it all, and so the responsibilities were divided. Key account managers kept them. Is your strategic account plan in trouble?