PETER CHEVERTON creator text KOGAN PAGE monographic DEFINING KEY ACCOUNT MANAGEMENT IN FINANCIAL SERVICES Why financial services are special With Gary Wright Definitions and scope; Market size and sectors; Why are FS markets special?; Why KAM matters in FS markets What is a key account in financial services? General definitions and their limitations; Categories of KAM in Managing the complexity 3 Competitive advantage through managing the future Managing the future; Your business strategy; Where to start?; The importance of balance; Assessing the opportunity; PESTLE analysis; Porter's analysis; A secure future through competitive advantage?; The 'opportunity snail'; Long-term competitive advantage? Key account management — its purpose Why KAM?; Three simple purposes; Sales and business objectives; Sanity checks; Implications of KAM; So, what will KAM 'feel' like?; Good practice?; Is there a KAM process? Developing the relationship The milk round; The hunter; The farmer; From hunter to farmer; The key account relationship development model; Charting the course; Some pros and cons of each stage; Some things to watch out for; Making diamond teams work; Avoiding frustration; An update to the KAM process The good, the bad and the sad Some bad stories; Some sad stories; Some good stories Learning the lessons KAM profitability Will KAM be profitable?; Why customer retention?; The costs of large customers; Know your margins; Cost to serve models; The benefits of customer retention PART II THE CUSTOMER'S PERSPECTIVE The buying process in financial services The corporate buying process; The intermediated buying process; Customer requirements in buying FS; Supplier considerations in selling-FS; Matching buyer requirements effectively and profitably Supplier positioning — becoming a key supplier Supplier positioning models; The supplier power /buyer power model; What relationships, what activities?; So, who's the key supplier?; Is there any escape for suppliers? Measuring value Value for money in FS; Summarizing value; The supplier power/value model; Open-book trading; Demonstrating value Measuring trust Trust matters more than you will ever be able to measure; The supplier power / trust model; Winning trust; The rewards of trust; When trust goes out the window Managing financial services suppliers Reducing supplier numbers; Rationalization and centralization; Tailoring the service to the customer's needs Understanding business strategy, culture and values — Becoming a strategic supplier Business strategy; what to sell and where? The Ansoff matrix and risk; What to sell and where? The product life cycle; Why will people buy? Porter and competitive advantage; What makes your customers' businesses hum? Treacy and Weirsema's business value drivers; The cultural match 'ART III PREPARING FOR KEY ACCOUNT MANAGEMENT What will it take? Goals and obstacles Goals; Obstacles What will it take? Skills The changing requirement; The team's skills and abilities; Attitudes and behaviours What will it take? Processes and systems Making it easy to do business with you; Customer classification and customer distinction; Information systems; Communication; Operational systems and processes; Performance measurement; Designing the system; Updating current IT systems; Building the brain; The impact of mergers and acquisitions; Integrating KAM systems What will it take? Organization and resources Organization; Human resources What will it take? Making it happen Assessment; Alignment and managing the change; The change equation; Critical success factors (CSFs) PART IV IDENTIFYING KEY ACCOUNTS Segmentation The problem for support functions in an unsegmented business; What is segmentation?; Methods for segmentation; Market map; Understanding buying behaviour in context; Making the cut; Segmentation and KAM identification; Benefits of segmentation for KAM; A nev■:, type of marketing plan? KAM and relationship marketing Identifying your key accounts An identification and selection process; Is all this really necessary?; The perfect investment portfolio?; The selection factors and the selection process; The selection process; How much effort and how much detail?; Key accounts and multiple business unit suppliers Customer distinction Determining distinct strategies; The steps towards customer distinction Some comments and advice PART V ENTRY STRATEGIES The customer's decision-making process Entry strategy; The buying decision process Selling to the organization - the DMU DMU - the decision-making unit; Interests and influences - entry strategies; The role of the key contact; Changes in buying; Globalization; Other interests and influences; Entry strategies; The contact matrix and GROWs; Contacts over time; Dealing with the DMU - hints from the front line PART VI MEETING THE CUSTOMER'S NEEDS Meeting the business needs - beyond benefits Where are you with your customers?; The customer's total business experience Positive impact analysis (PIA) Impact analysis for corporate customers; Impact analysis for intermediaries; Screening and selecting positive impact activities; Lock-in; Gaining a share of the value; Some hints on using positive impact analysis Key account management and the e-revolution The impact of the e-revolution on FS; The e-revolution and KAM; Steps in the revolution; The strategic approach to e-business; The e-revolution and the role of the Making the proposal Proposals are opportunities to show you have listened; Open to change?; Proposal analysis Selling to the individual Logic or emotion?; Ensuring rapport; Chemistry; Getting motivation right PART VII KEEPING ON TRACK Getting there — timetables and performance How will you measure success? ; Timetables for implementation; Training development tracks; Regular health checks Writing the key account plan No plan — no key account; The plan's purpose; A key account template?; Some 'must haves'; A few tips; A sample running order; Some tips on writing key account plans 978-8175545304