Key accounts are commonly identified as unique long-term strategic connections, which offer the most substantial return on investment and overall success, but how do you sell into them?
One tactic for salespeople is to look at your top accounts and begin to segment them into the following quadrants (KARE):
Keep: The accounts you want to keep our accounts that you are already getting most of their business, and they should be loyal. Remember, your best customer is somebody else’s best prospect. You should begin to think, what are the strategies, behaviors, and actions you need to take to keep those customers loyal.
Attain: You should begin to identify the 2,3,4,5 key accounts that you would like to attain as a brand-new business. How can you set the strategies, behaviors, and segment your time, as a sales professional, to be strategic in your outbound prospecting?
Recapture: Think about the accounts that you have had loyal relationships with, but something has changed. Maybe the account was sold? Maybe there was a service problem? Now, you’ve got to go back and put together a strategy to recapture that business.
Expand: This is one of the most significant areas for development with a key account. You will want to take a look at your accounts and decide who in your account base you can develop by selling existing product lines, new services, etc.
If you think strategically, you can develop a plan that includes measurable and controllable behaviors over a set period to keep, attain, recapture, and expand your accounts.