National Sales Center

Selling Key Accounts

Selling key accounts is about being a farmer and a hunter. You need to retain your key accounts and also expand them by successfully introducing your key accounts to additional products and services. This is important work because key accounts often represent 80% of a sales team’s revenue. Here is some advice that will help with selling key accounts.

Selling Key Accounts And Protecting Revenue

Salespeople want to “sell”. This is just part of their DNA and why they decided on a sales career. However, Key Account Sales Reps must also keep a close eye on account retention. This is especially true in a down economy because your hungry competition would love to penetrate a few of your top clients. Your job is to keep them out of your base of key accounts. When you are selling key accounts you have to keep on eye on retention.

You’ll never win an award for bringing in $100,000 in new revenue while losing $120,000 in revenue you should have been protecting. You need to be close to your key accounts and insure they view you as a trusted consultant. Keep a sharp eye on any warning signs that your best clients may be in jeopardy. This is key when selling key accounts.

• Is the staff changing due to promotions, terminations or a newly hired employee?
• Did they recently experience a product failure or service interruption that could cause them to start shopping?
• Have they been asking you about your competitor’s products or asking for a price reduction?
• Did you notice your competition’s name on the “sign in sheet” required for a visitor’s badge.

TIPS ON SELLING KEY ACCOUNTS

These are warning signs that a solid Key Account Sales Rep can’t ignore. Get on top of the issues and protect your key accounts by taking customer satisfaction personally! Sound the alarm, bring in resources and demonstrate that you never take your key accounts for granted. Remember these points about selling key accounts.

Selling Key Accounts With An Eye On Expansion

Selling key accounts also involves account expansion. Look at your product line and pick out a few products or services that you can use to expend the revenue from your key accounts. This is especially important if your best customer is buying those products or services from your competition. Your mission is to glue your key accounts to your company while closing all windows and doors to your competition. Always follow the sales process when you introduce new products to your key accounts. Selling key accounts involves the same processes as selling any other accounts.

Quantity discounts are a tool you can use to expand revenue from your top clients. The more they buy, the more they save. Consider introducing your top clients to these savings via an unsolicited proposal or during a quarterly account review. Your key accounts will appreciate you interest in their bottom line. Get proactive when selling key accounts. You’ll find more information about selling key accounts in solid sales training courses.

Advice On Selling Key Accounts

You’ve worked hard, had great sales success and got promoted to Key Accounts. You should be proud of yourself but don’t think you know all there is about selling and salesmanship. You must constantly improve your sales skills and stay sharp through sales training. Focus on getting better and better each and every year and insure you are aware of top-notch key account sales strategies. This is the only way to insure you will have a long and successful career selling key accounts. The key to key account success is strategic selling.

I wish you the best of success in your efforts to retain and grow your key accounts.

Nick Moreno, Sales Trainer

National Sales Center, Sales Training Company

ADDITIONAL SALES TRAINING ARTICLES ON RELATED TOPICS

Strategic Sales Plan

How To Write A Sales Proposal

Telemarketing Skills

Steps In The Sales Process

Tags: key account sales advice, key accounts