Modern key account management – additional challenges for the “multi-talented” key account manager

Key account management has changed significantly in recent years. The focus of this change is an even stronger customer orientation. This is necessary in order to better understand and fulfil the increasingly complex customer needs of key accounts and, where applicable, their customers. A key success factor is even closer, partnership-based collaboration between the companies. Communication is increasingly taking place virtually and purchasing and sales processes are continuously being digitalised together. In order to meet these requirements, a key account management organisation is required that is not rigid, but is structured in agile teams. These usually operate on an interdisciplinary and international basis and also integrate representatives from the key account side.

The change in key account management described above places even greater demands on the “multi-talented key account manager”. He is a team leader and networker with intercultural skills, a process analyst and strategist with business management and IT expertise and at the same time a team player with a pronounced out-of-the-box thinking, adaptability and assertiveness. More than ever, the two essential soft skills that modern key account managers must have to work successfully are strong communication skills for internal and external contact and, at the same time, focus when developing strategies and solutions.

Communication skills and focussed work are important success factors for modern key account managers

In order to identify solutions for customers and, if necessary, for their end customers, it is essential to understand exactly what the key account’s ideas and wishes are. Firstly, it is important to listen properly. On the one hand, this means helping yourself to concentrate on the conversation and, on the other, showing the other person that you are listening and thus motivating them to speak. Proper listening can be divided into three levels:

• Level 1: Attentive and receptive listening: Eye contact, attention sounds and body language (“Mhm”, nodding)
• Level 2: Paraphrasing and repeating in your own words: formulating as a question, repeating to avoid misunderstandings
• Level 3: Reproduce the interlocutor’s emotional, hidden messages, for example: “I find you very upset…”, “I understand that you are angry…”

Levels 1 and 2 are crucial to the success of any conversation. Level 3 also enables a genuine, emotional relationship to be established between the dialogue partners.

In addition to listening properly, it is also important to ask questions in the right places in order to understand the key account’s requirements and wishes. By asking questions during the conversation, you can find out detailed information, avoid misunderstandings and create a common understanding. It also promotes the exchange of ideas, innovation and performance and shows appreciation for the other party.

Questions are also crucial for sales success. A 2020 study by Harvard Business Manager (only in German) shows that the more questions are asked in a sales meeting, the more likely it is that the sale will be closed. Too many and too intrusive, offensive questions (over 15 questions) are in turn a hindrance to success. The highest success rate is achieved with around ten to 14 questions asked casually during the conversation.

In order to master these communication skills of “listening” and “asking questions” perfectly, every key account manager must train continuously. This continuous training is often underestimated, as most sales employees are good at talking. But those who talk a lot learn little.

Once the key account manager has received all the information in the meeting with the key account, the next step is to implement it in strategies and solutions. This requires concentration and focus. This is a real challenge in the world of “new work”, where one video conference follows another and emails and chats are processed at the same time.

In order to take enough time both for your own work and for liaising with colleagues and customers, it is advisable to divide your time into a cave time and a market place time.

During cave time, the key account manager deliberately withdraws and concentrates on their tasks independently of colleagues and others. Only brief, but no informal and non-departmental interactions with others should be permitted in order to ensure focus. Market Place Time can be used to do all the work that needs to be done in synchronisation with colleagues and to make arrangements with colleagues, key accounts and others.

Conclusion

The demands on the Key Account Manager are extensive and challenging. This makes it all the more important that they can rely on their basic skills. Modern key account managers are not lone fighters, but are closely connected as part of a team. Use the internal team for regular communication exercises. Clarify in the team exactly who needs cave and market place time and communicate the time allocation proactively. Working together as a key account management team makes it easier to overcome challenges.