A Key Account Manager (KAM) is responsible for managing the relationships with a company’s most important customers. They serve as the main point of contact for key accounts and work to grow business and drive revenue from those accounts. It’s a strategic role focused on developing strong, long-term relationships.
Being a successful KAM requires a diverse skillset. Let’s explore the key skills and qualifications you need to land a Key Account Manager job and thrive in the role:
Sales Skills
Sales skills are foundational for any KAM role. You need to be an excellent salesperson in order to grow revenue from key accounts. Important sales abilities include:
- Consultative selling – The ability to ask good questions, listen, and provide solutions tailored to each customer’s needs.
- Negotiation – Strong negotiation skills to work out pricing, contracts, terms and conditions, etc.
- Closing skills – You’ll need to be able to ask for the business and close deals.
- Territory management – KAMs need to be strategic about managing their book of key accounts.
Having a track record of consistently hitting and exceeding sales targets will help demonstrate your sales abilities.
Account Management Skills
In addition to sales skills, Key Account Managers need excellent account management capabilities, including:
- Customer service – You serve as the face of your company, so strong customer service skills are a must.
- Communication – The ability to communicate clearly via email, phone, video conferences, and in-person. You’ll interact frequently with your accounts.
- Presentation skills – KAMs regularly have to deliver presentations to key accounts.
- Proactivity – Don’t wait for issues to arise. Be proactive in bringing ideas and solutions to your customers.
- Organization – Juggling multiple key accounts requires great organization.
- Reporting – Keep stakeholders updated through reports on account status, activity, etc.
Having past account management experience, whether in sales or customer success, is great preparation for a KAM role.
Industry and Product Knowledge
Keys Account Managers must have in-depth knowledge of the industry and products/services they are representing. This enables them to connect their company’s capabilities to each customer’s needs and challenges. Invest time to learn:
- The KAM’s industry, competitors, trends, terminology, concepts, etc.
- Your company’s products, services, and capabilities inside and out.
- The customer’s business – their products, history, competitors, challenges, goals, etc.
Analytical Skills
Data and analytics play a major role in identifying key accounts, developing strategies, and measuring success. KAMs must be data-driven, with skills including:
- Identifying key performance indicators (KPIs)
- Analyzing account data to surface insights
- Creating account plans and sales forecasts
- Reporting on progress to goals
- Determining which activities and tactics are driving results
Experience using CRM and sales reporting tools is valuable here. SQL, Excel, data visualization, and business intelligence skills can also help.
Strategic Thinking
Having strong strategic thinking skills is vital for Key Account Managers given their focus on the “big picture” and long-term vision for accounts. Important capabilities include:
- Identifying growth opportunities within accounts
- Understanding the account’s goals and developing strategies to help them achieve it
- Determining which accounts and opportunities to pursue
- Leading strategic business reviews and planning meetings with accounts
- Connecting different capabilities across your company to create solutions
Technical Skills
Certain technical skills are key for KAMs as well. This includes proficiency with:
- CRM platforms such as Salesforce
- Microsoft Office – PowerPoint, Word, Excel
- Sales reporting and analytics tools
- Video conferencing platforms
Leadership Skills
KAMs must excel at leadership. They often manage a team and need delegation, coaching, and team management abilities. Leadership skills like project management, influence, team building, and decision making are critical.
Executive Presence
Given their exposure to C-level executives at key accounts, KAMs must exhibit executive presence and polished communication skills. Professionalism, confidence, likability, and the ability to connect with executives are vital.
Educational Background
A bachelor’s degree is often required or preferred for KAM roles. Common educational backgrounds include:
- Business Administration
- Marketing
- Sales
- Communications
- Supply chain management
Degrees that develop communication, analytical, leadership, and strategic thinking skills tend to prepare candidates well for a KAM career path.
Certifications
Certain certifications can also help demonstrate knowledge and proficiency that is valued in KAMs. Examples include:
- Certified Key Account Manager (CKAM)
- Value Selling Certification
- Miller Heiman Sales Certification
- HubSpot Sales Software Certification
- Google Analytics Certification
Soft Skills
In addition to technical capabilities, soft skills are incredibly important for succeeding as a Key Account Manager. Top skills and attributes include:
- Relationship building skills – Ability to develop rapport and build trust.
- Communication skills – Excellent verbal, written, listening and presentation abilities.
- People skills – Personable with high emotional intelligence.
- Collaboration – Team player able to work cross-functionally.
- Adaptability – Able to adapt your style to each customer and situation.
- Proactivity – Take initiative rather than waiting for opportunities.
- Creativity – Bring innovative ideas and solutions to customers.
- Problem-solving – Identify issues proactively and determine solutions.
- Time management – Balance multiple accounts and priorities efficiently.
- Stress tolerance – Remain calm and effective in high-pressure situations.
Day-to-Day Responsibilities
Now that we’ve covered the must-have KAM skills, what are the typical day-to-day responsibilities you can expect in this role? Common duties include:
- Managing onboarding and regular touchpoints for new key accounts
- Preparing and delivering client presentations and proposals
- Running strategic business reviews and planning meetings
- Developing, proposing, and executing on account plans
- Analyzing account data and producing reports and recommendations
- Forecasting and tracking account revenue
- Building and leading a team of account managers or associates
- Coordinating cross-functional teams to deliver for accounts
- Managing account escalations and issues
- Identifying and pursuing new opportunities within accounts
- Planning and running client events and trainings
- Monitoring competitor activity
- Managing renewals and upsells
- Traveling to visit customers on site
The typical day combines strategic planning, data analysis, customer meetings, team coordination, and sales work such as proposals and negotiations.
Conclusion
Key Account Managers play a critical role in managing their company’s most strategic customers. The position requires a diverse mix of account management, sales, communication, leadership, analytical, and strategic skills. Key qualifications include sales experience, industry expertise, strategic mindset, executive presence, and excellent relationship building abilities.
Leverage the skills outlined above and highlight relevant accomplishments on your resume and during interviews. This will help you stand out for KAM roles and succeed driving value for your key customers in this role.
