Sales people all talk about putting yourself in the buyer’s shoe trying to determine what is important to the buyer. The buyer often has differing views on what the real key account requirements are.
Sales tend to get super tactical. They think that the key account requirements important to the buyer are:
- Hit the SLA’s
- Provide quality product
- Price
- On time delivery
- Good service
- Etc.
All of these items are important but what is the buyer really thinking about? What really fulfil key account requirements?
There has been substantial research in this field. Achieve Global undertook research a number of years ago to access what key account really required from strategic partners.
Undertake a Win/Loss analysis
It is key to continue to talk with customers frequently. Surveying them on a regular basis for satisfaction also provides valuable insight on how the partnership is developing. It is also important to conduct a win/loss analysis on a frequent basis. The most powerful data you can find often comes from a win/loss analysis. How often has your sale rep lost a deal and reported that it was a “no decision” or “it went to the lowest price”. You may later find out that the deal was lost by something completely different which was avoidable.
Buyer Incentive Based Objectives
Is the buyer thinking along the same lines as you? Is this relationship making them look good? How can this relationship make the buyer stand out against his peers? How is this relationship helping me hit the buyer incentive based objectives?
Recent research indicates that the most important elements a buyer looks for in a partner are,
- Promotion,
- Authority
- Income.
So the question for you is; how is your product or service contributing to the buyer’s ability to get promoted, gain more authority or increase their personal income?
If you know the answer to these questions then you truly are putting yourself in the buyer’s shoes and they will find value in your Key Account program.
ProAptivity work closely with clients to help them optimise their key account requirement with their clients. If you need assistance with Key Account Management, contact ProAptivity today on 028 9099 6388 or via email on info@proaptivity.websitebuild.xyz
Source: Sales Benchmark Index
