KAM is a Strategy

In 2021 I became a leader of one of LinkedIn’s Key Account programs. 

While I worked with large accounts through most of my career - as a Management Consultant, Sales Rep, Sales Manager and Customer Success Leader - this role was my first exclusively focused on Key Accounts. 

I committed myself to gaining deeper knowledge of the theory of Key Accounts and what best-in-class Key Accounts programs look like. 

It’s been so fun learning and connecting with others. I’ve been thrilled to find a community of academics, consultants and practitioners who are deeply knowledgeable about Key Accounts and generous in lending their expertise to others. 

As I move through my third year of leading this segment at LinkedIn, I wanted to share four key concepts that inform much of my philosophy of a Key Accounts segment. 

Key Accounts is a Strategy

The most common misconception about Key Accounts I have encountered is that it is primarily about a more senior sales professional (a Key Account Manager) working in a smaller territory. While both of those things may be true, this description is a limited view of what a Key Account Program can and should be. 

Mike Moorman of ZS Associates shared a powerful framing that has deeply influenced my approach. This is that “KAM should be viewed as an organization-wide business strategy.” 

This more strategic mindset of Key Accounts challenges organizations to elevate their approach with a holistic set of considerations. I encourage Key Account Leaders to start their journey here - positioning your programs as strategic initiatives and evaluating what capabilities the program has and what needs to be built.   

Key Accounts is about Massive Mutual Value Creation

Too often thinking about Key Accounts starts and ends with a question of where the biggest growth opportunities are. No doubt, that is a paramount consideration. The more powerful approach is exploring where the opportunities are for massive mutual value creation. This approach helps KAM organizations keep customer value creation at the forefront of their thinking and requires the customer to also want to invest in unlocking that value. 

Steve Andersen, Craig Jones and Todd Lenhart of Performance Methods International touch on this concept in their ebook The Keys to Effective Strategic Account Planning. “Far too many so-called strategic customers don’t know they are strategic, don’t care that they are, or don’t understand what it means.” 

Key Accounts require Differentiated Effort

Another tell-tale sign of Key Account programs is the level of effort required to produce the desired value creation. You may find that some large accounts will profitably grow with more scaled approaches to selling. That is great! These customers may not need or want the capabilities of a Key Account program. 

Often the accounts most suitable for a Key Account program have some elements of complexity that require differentiated effort to unlock value for them. This complexity can come in many forms - the geographic scope of a company, the organization's structure, the industry, or the current state of their talent, process or technology. 

The differentiated effort required to address the complexity can come in many forms. In the LinkedIn Sales Solutions North American Key Accounts program, two examples of how we apply differentiated efforts are through 1) “PODs” that pair Key Account Managers, Relationship Managers and Customer Success Managers on a single territory and 2) having a vertical go-to-market in select industries with specialized needs. 

Key Accounts is a Community

Key Accounts can be a lonely field in any organization. You are most often a small percentage of the total sellers in your organizations. There may be few in your organization with deep exposure to the strategy and practice of Key Account Management. 

To that end, finding your community is key. Create community within your own team. Seek out your internal counterparts and leaders focused in this space. Better yet, join external forums devoted to this practice. I’ve really enjoyed being active in the Strategic Account Management Association (SAMA). SAMA has been around for over 50 years and convenes thousands of professionals passionate about the space. 

I’ve found Key Account Management to be a hugely fulfilling experience. On it's best days, it represents the pinnacle of the sales profession and unlocks world changing transformation for the most iconic companies in the globe. I can’t wait to continue to contribute to this practice and invite you to as well!

Resources I found helpful

Strategic Account Management Association

The Keys to Effective Strategic Account Planning (2nd Edition)

Key Account Management Podcast

High Impact Sales Strategy in a Digital World