What Is Key Account Management? [+ Checklist]

Your team just won a new logo! Congratulations!

This one has buzz. It’s modest to start, but there’s potential to sell into multiple buying centers, across geographies, and the new product your company is launching will help the customer simplify their processes, increase efficiencies, and reduce strain on their supply chain.

But that’s all in the hands of the key account team now.

What is key account management (KAM)?

Key account management is a systematic approach to managing and growing a named set of an account manager’s most important customers to maximize mutual value and achieve mutually beneficial goals.

The good news is that new business from key accounts is 60% to 70% more likely to close compared to the 5% to 20% likelihood of closing a deal with a new client.