What is a KAM or Key Account Manager?
When we talk about the profession of Key Account Manager, which in Spanish means Key Account Executive, we are referring exactly to that, to a person who is in charge of managing the company 's most important accounts .
A profile like this, which is increasingly in demand, requires bc data india monetary knowledge, branding, and, as you will see later, social relations with the client .
In finance, a “key account” is an account that generates a lot of money, so it should be treated with extreme care, because it forms part of the bulk of the company’s income. Being a KAM (for its acronym in English) entails making large contracts with these accounts and retaining them .
As you can imagine, the responsibility is quite high ; someone who works as a Key Account Manager in a multinational can sit at the table and talk to investors and clients who invest a lot of money in the company.
That is why they are treated in such a special way, because losing a client who contributes so much capital or an investor who is considering financing, for example, certain expenses of the entity for its growth hoping to obtain a return in the future, would be a big problem for the company.
In short, the Key Account Manager has to capture this and invest their money wisely. In short, a great responsibility that falls on their shoulders.
Given who you are and the magnitude of this position, what are your duties?
Main functions of a Key Account Manager
The first thing to be clear about is that not everyone can take on the responsibilities and main functions of a Key Account Manager, at least not at the beginning of their careers. To earn this position, you need experience, and to get it you need to start from the first step and gradually climb the ranks over the years and acquire the necessary skills to do the job.
That being said , let 's list the functions of a Key Account Manager .
KAM or Key Account Manager: what it is, functions and salary
Delegation: Although it is often overlooked, it is very important to take it into account. The KAM delegates actions, among others, to the Account Manager, whether they are of minor importance or essential for the proper functioning of the company. But it is not just that, it is about managing and leading relationships. And a person with a role like this has to know very well who they work with and be in constant contact .
Information and market analysis : Analyzing the competition correctly takes time and requires prior training under supervision . That is why identifying weaknesses , strengths , threats and opportunities is a key function of this role in order to subsequently define decision-making .
Boosting your brand: This can be done in many ways depending on the type of industry and company, but for the company to grow, it has to differentiate itself from the competition (remember that if you don't grow and just try to stay in business, there will come a point where it will no longer be profitable). And to differentiate yourself, you can use branding techniques or even Growth Hacking methods.
Managing teams and projects: we all know the importance of retention /loyalty in marketing , how hard it is to attract a customer and how important it is to keep them satisfied for the company's reputation. Another of the Key Account Manager's functions is to deal with these situations, so they need to know negotiation skills and know how to keep calm in rather critical moments.
