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Digital changing key-account landscape by McKinsey & Company

Authors Varun Kohli, Ryan Paulowsky and Jennifer Stanley from McKinsey & Company are reflecting on changing landscape of key-account selling in Digital transformation. You can see original article here:

What they are realising is that customers are changing and some of them prefer using digital channels in sales process. On the other hand with growing competition, usage of time is becoming key component of success of key-account managers.

Digital tools can be used as help in customer communication and internal activity optimisation.

Usage of ABM (account based management) instead of mass approach can bring huge benefits. But in order to do it right, you need to do well in four actions:

  • Define objectives explicitly
  • Define sales and marketing roles
  • Set up right tools and infrastructure
  • Manage performance

Another area where sales management can benefit from usage of digital tools is improving account planning discipline and activities, by introducing transparent digital tool, that will help catch proper information, identify proper customer needs and enable transparent sharing of information inside whole organisation. In order to do it right, activity should be clearly supported by management and benefits should be presented clearly to sales organisation since, they could perceive this activities as a threat: intrusive because of data transparency of time allocation, lowering their power by expanding relationship to customer to whole organisation, additional work because data must be recorded.

Organisations that did not move into directions of using digital support combined with human touch, are not performing as well as the ones they did, at least according to some researches done on this subject.

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