From the course: Key Account Management
Join today to access over 23,100 courses taught by industry experts.
Reward key account managers
From the course: Key Account Management
Reward key account managers
- Key account managers are not traditional salespeople. So their compensation and reward systems need to be different. Otherwise, you'll find yourself rewarding the wrong behaviors. Now, here's what I mean by that. Traditional salespeople typically earn a base salary plus a commission on sales generated by the account. Well, this approach works well, because you want your salespeople focusing on the right activities to drive sales. But the long-term goal of a key account manager is customer retention, not sales. You want the key account manager focusing on all the activities needed to keep the account forever. So, instead of paying them a commission on sales, it might make more sense to pay them a base salary plus a year-end bonus if the account continues to do business with your company. This approach will make sure the key account manager is focused on the right things as described in the key account management task.…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.