Released on: July 10, 2008, 2:35 pm

Press Release Author: BusinessSummaries.com

Industry: Management

Press Release Summary: In his book How Come You Can't Identify Your Key Customers?,
author Peter Cheverton teaches readers how to define, communicate and achieve the
key objectives of KAM.

Press Release Body: Even the best-run companies can and do commit errors regarding
the customers they service and the accounts that they manage. Some companies,
thinking that all their customers are equally important, commit the often fatal
mistake of giving each and every account the same level of importance and try to
serve these disparate accounts and customers equally. And even if this mistake does
not lead to a meltdown, it can result in a drain in resources.

It is thus very important for companies to learn which customers are more important
than others and to treat them accordingly.

Key account management or KAM is the management of those customer relationships that
are considered most important to a company. Key accounts are defined as those
accounts which are held by customers producing or responsible for the bulk of the
profits for a company and/or those which have the potential to do so.

Key account management is now firmly recognized as an essential component of
business success. This is because companies only have a finite amount of resources
to spread around, and, especially in today's uncertain times, can ill afford to
spread themselves too thin. If you are intent on practicing key account management
in your company, then the identification of these customers is one of the most
important actions you could ever undertake in the course of your work for it.

In his book How Come You Can't Identify Your Key Customers?, author Peter Cheverton
offers readers a 10-step process for teasing out key accounts and stratifying a
company's accounts list by order of priority - into key accounts, key development
accounts, maintenance accounts, and opportunistic accounts. By working through his
plan, readers will understand how to define, communicate and achieve the key
objectives of KAM in order to make a company a winner.



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Contact Details: Samantha Johnson
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samantha@bizsum.com