Overview
Strategic Account Management (SAM) is a critical topic for companies today. In an increasingly-competitive marketplace, companies must strive to understand their customers better and to provide superior, differentiated service to those accounts determined to be strategic. This one-day module will introduce managers and sales executives to the concept of Strategic Account Management and will provide them with a framework for understanding the theory and practice of SAM. Special emphasis will be placed on practical solutions, current trends and best company practices from world leaders in SAM.
The primary objective of the module is to introduce the fundamental concepts of Strategic Account Management and its value to the organization and its clients. It is designed to provide companies with a solid overview of SAM and is appropriate for both seasoned account managers and salespeople transitioning into a strategic account manager role.
The module will present a framework for understanding SAM as well as providing practical solutions for creating and implementing new SAM programs and improving programs already in place. Module content is designed to be applicable to a wide variety of industries and to a broad range of companies from small startups to major multinational corporations.
Topics to be discussed include:
- Importance of SAM to companies and to accounts
- Value creation and satisfaction generation
- Major accounts, marquee accounts, strategic accounts – Why they are not one and the same
- Selecting strategic accounts via proper market segmentation
- Required elements of successful SAM programs and key metrics for evaluation
- From transactional relationship to LTR (long-term relationship) – How to make strategic accounts your committed partner
- We are the Champions – Which companies are leading the way in SAM and which best practices of theirs can we adopt
- Optimize SAM offerings to increase revenue, margins and market share for the company and its strategic accounts
Exercise:
Participants will create an SAM program for a fictional company by analyzing the company’s strengths and weaknesses and its competitive environment. They will incorporate the critical elements of leading SAM programs into an innovative program designed especially for this company’s market position.
Cases and Readings
La Fageda, Social Enterprise Knowledge Network, Harvard Business School
Seven Account Management Best Practices that Will Make a Difference, Eye for Pharma
Worldly Wise, Senn and Thoma
Faculty
Jeffrey Weinstock has been a faculty member of the Marketing Department at Miami Herbert Business School since 2004. For 20 years, he held senior international marketing positions in several S&P 500 companies. His international marketing experience includes key roles at Carnival Cruise Lines, Sabre Holdings and Teva Pharmaceutical Industries. He focuses on international marketing strategy, new product development and launch, and new market entry in the software, banking, pharmaceutical and hospitality industries. Weinstock has also executed consulting projects for leading companies in the financial, pharmaceutical and science-based industries. He has worked in over 40 countries including 14 years overseas. He specializes in Latin America, Europe and the Middle East and is fluent (native speaker level) in English, Spanish, Portuguese and Hebrew.
