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  • Life Wisdom

Key Account Management – My First Love

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On the eve of the International Networking Online Event on Key Account Management, I am sharing my experience with one of the automotive key accounts.
  • The Real-life Case: When I joined a JV of a Japanese & Indian organization in the South of India, (manufacturing automotive OE products) as a Key Account Management (KAM) Head, we had most of the business from only one customer – Toyota but hardly any business with Maruti Suzuki, India’s number 1 manufacturer of passenger cars, hereafter referred to as a ‘key account’.

    I began with understanding the key account in terms of their needs from the supplier in terms of product, service, performance, quality & delivery expectations, management, new product development and new technology requirements. I studied the performance of the major competitors, their strengths, weaknesses, core competencies & positioning at the key account. Also, I identified & understood the behavioural profile & motivation of key decision-makers & decision influencers at the customer end, from the perspective of their specific function/department. I could do this over the first 4 months. During the period I also studied my organizations’ core competencies & strengths & could zero down on the few aspects of processes & product features where my organization had an edge over the nearest major competitor.
  • The Strategic Plan: With the support from the senior management, a cross-function team (CFT) was formed. We decided to focus on enhancing our core strengths on one side & removing one major weakness on the other side, which was the distance from the key account. While we were transporting the product from 2,000 km away, our nearest major competitor was doing it from the distance of 20 kms only, that had an impact on delivery time, service, transportation & packaging cost, fewer damages as well as customer confidence and peace of mind. And a strategic plan was made in about 3 months of collaborative work.
  • An Execution: I headed the CFT that proposed the assembly line in the north near the key account and work on the product development process resulting in offering what key account will need in the medium-term future and bringing out one specific product future that was almost not possible for our nearest competitor due to constraint in the type of the process & technology they had. We benchmarked the passenger cars in Japan in a similar segment and studied the technology features in them related to our product and started proactively working on it even before the receipt of RFQ from the key account. That resulted in us creating our unique offering, creating a strategic core advantage on one side while removing the major weakness on the other side. Parallelly, the development of relations with the decision-makers and decision influencers was initiated, not only from the key account management function’s side but also from the senior management level & at other functional levels. Always the long-term interest of the key account was thought of in every proposal we made & action we took. And, more importantly, I worked as if I was a family member of the owners/shareholders of the organization putting not only my mind but also my heart & soul into the organization's goals & objectives and infusing that passion into my team as well.
  • The Result: Above resulted in us winning more than 60% of the business (of one of the major & high-value product lines) from this key account in the next 3 years period. Within 5 years, we had a market/business share of 55% in that key account which earlier was mare 5% and we become the number one strategic partner of this key account in one of the major product lines.

    I would love to know from you, your experience in terms of challenges & successes with the key account. Please share in the comments.
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