The supplier’s account manager is pivotal to success or failure – their appointment is the most important decision.
So, choosing/appointing an account manager will be one of the most important decisions ever made by a supplier. If the person doesn’t fit the bill and/or screws up it could cost your company millions of pounds.
Account managers are the face of your company when it comes to dealing with clients and third parties. They need to be very visible at the client site and regarded as an ally to all (client, third parties & anyone representing your own company).
As well as being key players for both your own company and the client, account managers must also be a supporter & promoter of the client when discussions take place within their own organisation.
For account managers themselves, the single most important thing is to understand the client’s culture. It is crucial to demonstrate this understanding as early as possible and at every level of client contact; account managers must engage with the culture and ‘speak the speak’ as and when appropriate. As soon as this begins, the account manager’s standing in the client environment will increase significantly.
Before Covid-19 it was essential for account managers to socialise with the client, third parties and everyone who represented their own company. Socialising was frequently the source of very useful information which couldn’t otherwise be obtained and provided invaluable background to unexplained situations encountered in the workplace. Let’s hope this option soon returns to previous levels.
Although account managers may not be dedicated or even have that title, the account management process must still be followed.
Some of the example checks and tips below relate to account managers operating in large supplier organisations. Account managers who represent small and medium sized supplier businesses will need to cut down the subsets as appropriate. The checks and tips are directed to the account managers themselves.
Responsibilities
- thorough understanding ofall contractual terms & conditions, service level agreements, KPIs, etc.
- broad appreciation of the client’s business, financial performance, market & competitors
- comprehensive knowledge of your company’s sales propositions, products, capabilities and financial performance
- ensure all risk management practices & procedures are continually adhered to by everyone concerned
- ensure your company’s senior management meet the right level of client management at the appropriate frequency
- regularly test colleagues’ knowledge (all those who have client contact) of current contracts & commitments, sales propositions & products and client business operation, performance & culture
- initiate client satisfaction surveys & create improvement action plans
Priorities & Practice
Outset:
- approach every new client as if it’s going to be a long-term business relationship even if the initial contract is short term or small.
- strive to maintain a high profile and encourage an atmosphere of openness. Act as a facilitator/enabler wherever possible and let client contact(s) know who else you are seeing in the organisation.
Knowledge:
- identify mission statements, strategies, goals & targets of both the client and your own organisation – know these off by heart. It will be so impressive to draw on these when talking to the client or your own boss.
- find out key dates/events in the client company’s calendar – staff meetings, business updates, sales conference, dress down days, Christmas lunch/party, etc.
Reputation:
- you’ll enhance your reputation by getting across your understanding of your client’s market, business, problems, challenges, culture, etc. (look for opportunities to do this).
People:
- influence the selection of the most appropriate individuals to work for your client. In addition to a good skill/technical fit, individuals must also fit with the client’s culture. If you have any doubts about an individual fitting-in then they probably won’t, so don’t use them – they’ll be enough risks to deal with as it is!
Practice:
- for presentations, tricky meetings and difficult discussions you must rehearse, rehearse, rehearse. Always have your company’s presentation to hand and be ready to give it at short notice.
- ensure there is quality in all that is done but not necessarily ‘top’ quality as the client may feel they’re paying for something which isn’t necessary/required.
- as you increase your knowledge of your client’s business be proactive in making suggestions for improvements. How can you make things easier for your client contact(s), improve efficiency, etc.? Depending on your company’s involvement (there might not be any yet), you may not charge for this but don’t be afraid to ask for payment if it’s justified and you don’t really benefit (directly/indirectly) by giving a ‘freebie’.
Dangers & Pitfalls:
- Account managers must be fully empowered to take responsibility for their crucially important role.
- although there will be times when certain client individuals seem not to like you or are difficult for good reason or not (they may just resent your company being there), it’s vital that you treat them exactly the same as others who you do get on with. Never behave or act any differently. Not only will some of your dissenters eventually come around, some may even confide in you, ask your opinion, etc. – and you could then become privy to key information. Some of these people may eventually respect you and become totally trusting.
- any problems/issues must be nipped in the bud, remove problem people who represent your Company and initiate plans to deal with any problem client staff/managers as appropriate.
You may even choose to perform SWOT analyses on difficult people.
The importance of the attributes, role, responsibilities and practice of account managers cannot be over-emphasised; your business health will always be dependent on these individuals. Appointing an account manager will be one of the most important decisions ever made by a supplier. If the person doesn’t fit the bill, or isn’t fully empowered, it could cost their company millions of pounds.
Click here for 100+ checks & tips.
Best Practice Quote 4 of 13:
“the supplier’s account manager is pivotal to success or failure – their appointment is the most important decision”
NEXT BLOG: Relationship Management
A complete set of account management components can be found at accountmanagementgold.com, all of which aim to significantly improve supplier performance and block the competition.
As an introduction to these components, I’m writing a series of blogs which I hope will be of value and appropriate for the type & size of your client, prospect and target organisations:
- What is Account Management?
- Understanding Your Clients
- Values, Ethos & Image
- Supplier Account Manager (today)
- Relationship Management
- Client Contact Management
- Sales Propositions & Opportunities
- Sales Opportunity Qualification
- Balanced Scorecard
- Risk Management
- Account Performance Reviews
- Satisfaction Surveys
- SWOT Analysis
As these blogs will be geared to anyone engaged in developing new business with clients or prospects, and for ease of context, I’ll regard all readers as account managers as everyone has the same endgame, no offence!
I really hope you, your colleagues & business associates find value in these blogs; please let me know either way. Please also get in touch if you think there might be potential for our businesses to collaborate.
ASPIRE’s MISSION
– to enable suppliers to minimise risk in all that they do with particular focus on developing long-term revenue streams
– to increase productivity/profit/margin, client/people networks, trust/integrity, reputation/market standing & morale/pride
Richard Wright
Managing Director
ASPIRE Account Management
accountmanagementgold.com