#003 Be a Value Creator, not a Cost Generator

KAMCast - Key Account Management Strategies for Business Leaders

IN THIS EPISODE:

In today’s world we could categorise organisations into two camps: those that add value, and those that add COST.

• Why type of organisation are you?
• What is your definition of value?
• How will you know when you are adding and creating value for your customers?
• Do your most important clients know the extra lengths you go to provide them with unexpected, relevant and personalised value that is ultimately useful to them?

With value being undefinable to many and different to each of your accounts, I wanted to peel back a few layers of this really big onion and explore value with our guest for this episode: Warwick Brown.

As a fellow KAM “Activist”, Warwick’s mission is to help organisations leverage the power of key account management to accelerate client retention and revenue.

He has more than 15 years’ experience in the field, leading business development and account management teams in Australia and Europe and working with some of the world's most prestigious firms, including Merck & Co, Deutsche Bank, McKinsey & Company and Vodafone.

He has also recently launched The KAM Club – a private learning community that helps busy account managers get results.

Listen to this episode to hear Warwick’s definition of value; where he feels the most mistakes are made by account managers when it comes to value; how we track and demonstrate what we are achieving for clients; and what today’s market has done to the value playing field in the B2B world.

So, are you a value creator or a cost creator? Let us know once you have digested this packed episode.

HIGHLIGHTS FROM THIS EPISODE:

If you can hold your hand on your heart and say that you create value for your key accounts…Do they know? Are you telling them? And, are you measuring it in the business?

In a world where clients want and need more from you than ever before, Warwick shares his three tips, which are a great place to start:

1. Ask your main contact at the client’s company about what they need to achieve and how you can help them.
2. Create a highlight reel of all the good things you have done, ready to share in reviews with your accounts.
3. Find a way to track and measure the value you create for clients - what are your lead measures that you monitor to guide you in the direction of success?

With differentiation being a real challenge for so many businesses, what is your business the best at doing, the first to do or the only one doing?

Value really isn’t a one size fits all and our job as key account managers is to identify what is important to different stakeholders and customise the value for each of them. Warwick reminds us to always ask the “so, what’s next” question.

𝗞𝗜𝗟𝗟𝗘𝗥 𝗤𝗨𝗘𝗦𝗧𝗜𝗢𝗡 𝗦𝗘𝗚𝗠𝗘𝗡𝗧:

In each episode we ask you, our listener, a killer question that is designed to get you reflecting on your business, your KAM Culture and where changes in thinking and behaviour could lead to increased customer success.

In this episode we asked Warwick to give us his killer question which was:

“Write down two or three things, that make your company completely different. Unique qualities that nobody else can claim to do.”

It’s a good place to start when trying to nail down your value.

𝗤𝗨𝗜𝗖𝗞 𝗥𝗘𝗙 𝗧𝗢 𝗙𝗥𝗘𝗘 𝗥𝗘𝗦𝗢𝗨𝗥𝗖𝗘 𝗙𝗢𝗥 𝗧𝗛𝗜𝗦 𝗘𝗣𝗜𝗦𝗢𝗗𝗘:

In line with this topic, we have designed a quick, free 5 PART KAM health check tool for you – if you want to temperature check how your organisation, team and systems fare on some of the topics we covered in this episode. The health check is delivered as short, bite size videos with some prompting questions to ask yourself and your team. (CLICK HERE FOR ACCESS)

𝗙𝗜𝗡𝗗 𝗢𝗨𝗧 𝗠𝗢𝗥𝗘 𝗔𝗕𝗢𝗨𝗧 𝗠𝗬 𝗚𝗨𝗘𝗦𝗧: 𝗪𝗔𝗥𝗪𝗜𝗖𝗞 𝗕𝗥𝗢𝗪𝗡

Warwick is a Key Account Consultant and Founder of The KAM Club, has led business development and account management teams in Australia and Europe for more than 15 years. He has worked with some of the world's most prestigious firms including Merck & Co, Deutsche Bank, McKinsey & Company and Vodafone.

His mission is to support in-house KAM Professionals with the right advice, tools and learning resources to boost their results. He also spends time educating organisations about the importance of leveraging the power of key account management which in turn to accelerates higher performing KAM Professionals, improved client retention and increased revenue.

You can find out more about him on his website, connect with him on LinkedIn or follow him on Twitter. You can find out about his learning community, The KAM Club as well.