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Key Account Management
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With the increase of GPOs and IDNs in healthcare, our clients are very interested in improving their management of health system relationships.
We commonly hear customers looking to drive the following outcomes:
- Increased share in existing accounts
- Improved customer satisfaction
- Improved collaboration between sales and service
- Optimized use of resources and investment (return on investment)
- Improved cross-functional and strategic approaches to targeting competitive key accounts
- Improved collection and development of best practices across the organization
The good news is that all of these are possible and both the experience of our clients who have successfully implemented Key Account Management programs and research from CSO Insights seems to prove this out.
Here’s how the top 7% of healthcare sales organizations respond to questions related to key account management:
(Source: CSO Insights World Class Sales Practices, 2017)
Questions:
- We deliver a consistent customer experience which lives up to and aligns…
- Customers have consistently positive interactions with us regardless of which…
- Our (sales) teams leverage a formal process to develop account engagement…
- Our organization collaborates across departments to manage strategic accounts
- We effectively collect and share best practices across our sales and service…
That top 7% scores much higher metrics like company revenue plan attainment, average quota attainment, forecast accuracy and reduced turnover (Source: CSO Insights Sales Performance Study, 2018).
Executive Leadership
Agree / Strongly Agree
(Source: CSO Insights – Customer Experience Study, 2018)
- Our senior leaders strongly view customer loyalty as core to the success of our business.
- Our senior leaders budget the money and other resources needed to continuosly improve customer experiences.
- We have a Customer Experience Council or other cross-functional team which works on improving customer experience across the enterprise.
Only 1 in 5 (18%) of organizations meet these criteria. When they did, they had an 85% of increasing CSAT metrics.
Leaders are those who maintained or increased CSAT YoY, while the Laggards are those where CSAT declined.
Many of our clients ask Healthcare Sales Performance to assist in implementing a planning process to manage their largest and most strategic IDN relationships. Often, clients come to us with a concept that implementing KAM is as simple as running a two-day training program. Unfortunately, this is not the case.
To help peel back the layers, we have developed a free guide to implementing Key Account Management.
Key Account Management Implementation Best Practices
Learn more about our Key Account Management Solutions