Key Account Manager

Key Account Manager – Tasks, Roles and Skills

The key account manager takes on the role of a supervisor, an advisor and a permanent point of contact. In times of ever-increasing competitive pressure, key customers are central to a company’s economic strength and future viability. This makes it all the more important that these customers receive expert attention. This is what key account managers do. All the more reason, then, to take a closer look at this job. Who is suitable for the key account manager’s many tasks? What kind of know-how does a key account manager need? And why do they have such an impact on key accounts? In this article you will find answers to all related questions.

What is Key Account Management?

Key Account Managers (KAM) are responsible for looking after the most important customers. These “key accounts” are usually the ones that generate the most revenue for a company. Key accounts play an even bigger role in the B2B sector. This means that a few customers can make and break a company.

Key account managers contribute to customer loyalty by providing targeted support to key customers. They manage complaints, maintain regular and close contact with these customers and accept improvement requests.

As a rule, key account management is a subdivision of the sales and marketing department. Frequently, this area is further segmented into territories, countries or regions.

For example, key account managers may manage several accounts in one country. In a way, key account managers represent the interests of customers within the company. As such, they are an important interface with all other areas of the company such as logistics, marketing and management.

Key Account Manager

The most important tasks of a key account manager

Key Account Managers perform classic sales tasks such as:

  • Contacting customers
  • Preparing offers.

However, the work of a key account manager goes far beyond this. Ultimately, the key account manager’s main task is to align the interests of the most important customers with the interests of the management or the company. The aim is to keep key customers happy and to generate revenue for the company.

Key account management is not about offering standard products or services to many customers. Rather, key account managers must work with top customers to develop possible solutions or strategies for their business. For example, key account managers can take a proactive approach by highlighting potential opportunities for their customers that can help their business move forward.

To keep support at a high level, regular communication within key account management is necessary. Visiting customers or inviting them to discuss new ideas is one of the tasks of KAM.

It is also part of the key account management process to attract new potential customers. As opposed to traditional sales or marketing, KAM is primarily concerned with acquiring new key customers.

In order to provide the best possible advice to customers, a comprehensive knowledge of the relevant markets, products and industries is required. An important task of the key account manager is therefore continuous training. KAMs should be aware of customer and market needs and have a thorough knowledge of their own company’s products.

Finally, key account managers also perform important strategic tasks. They develop possible market strategies or analyse sales trends to identify new approaches to customer care.

What are the core skills of a key account manager?

Key account managers are challenged in many different ways on a daily basis. On a professional level, in-depth business knowledge is important, but so is knowledge of psychology or marketing.

Soft skills such as flexibility, empathy and strategic thinking are essential. KAMs should also be able to act with a high degree of autonomy. Especially when dealing with international key accounts, intercultural competence is essential. The same goes for foreign language skills.

Key Account Manager

The path to becoming a key account manager

There is no typical training or degree for key account management. Candidates for this role often have a degree in business or industrial engineering. However, it is also possible to start with a commercial apprenticeship as well as a business degree. Because of the variety of tasks involved, it is also possible to enter the profession with a degree in psychology or the humanities.

However, if you want to work with key accounts, you will need work experience. Candidates for such roles can gain this experience in account management or on the sales team.

How much does a key account manager earn?

Your salary as a key account manager will depend largely on the industry in which you work. In the food industry, for example, you will earn significantly less than in the highly specialised engineering sector.

Your education also plays a role in determining your salary. Business and sales engineers with technical expertise can expect to earn more than more general business graduates. The average entry-level salary, excluding bonuses, is around €41,000 gross per year.

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Make money online without experience

Make Money Online Without Experience

The internet is full of sources of income. It has never been so easy to make money online without experience. You don’t need much more than a laptop, a smartphone or tablet and an internet connection. Then you can get started and earn a part-time or full-time income on the internet as soon as possible. Making money online seems to be the step to financial independence and the freedom that comes with it. In this article, we will show you various possibilities and tips on how to make money online and earn passive income even with no experience.

Is it real to make money online without experience?

This is a question that has been asked for years. The answer is quite simple: Yes, it is real to make money online without experience. There are plenty of ways to do this, but the most important thing is to have an idea. What matters is not that you have experience, but that you have a good idea.

Can I make money without investment?

The World Wide Web does not only occur on social networks, it also offers you countless opportunities to earn a lot of money in a short time. You don’t necessarily need investment to take advantage of these opportunities. There are many ways to make money online without any investment. In other words, you can make money online without money. But remember that you can increase your return even with a small investment.

Make money online without experience

The 4 Best Ways to Earn Money in 2022

1) Start Youtube Channel

Since YouTube became part of the Internet giant Google, it has become by far the best-known and most important video platform in the world. The best thing about YouTube is that you don’t need to invest any money to start making money with it. All you have to do is create one video and upload it to your channel. With Youtube, you also have the opportunity to make money online without showing your face. Using your creativity, you can create interesting videos without showing your face with free video editing programs, or you can record your travels and present vacation ideas to other people at the same time.

Make money online with surveys

2) Make Money Online With Surveys

With paid surveys, you can easily earn money online without much effort. You simply register with various portals, receive the surveys by email and can then earn money on the side with just a few clicks. Various apps also offer such surveys. Since the surveys take about 1-10 minutes to complete, you can also answer them from the comfort of your cell phone, for example, when you’re sitting in the subway, waiting in line at the supermarket, or want to spend the commercial break in front of the TV.

What qualifications should you have?

You don’t need any special qualifications to participate in surveys. However, you may not be a good fit for some surveys, as companies usually tailor their products to a specific target audience. Likewise, there will be many surveys that fit you exactly. Therefore, specify as many interests as possible when registering, and the portals will assign you more surveys.

Make money online with print on demand

3) Print on Demand

Are you creative but don’t know how to make money with it? Print-on-demand is an easy way to earn passive income. Whether books, T-shirts, sweatshirts or socks – print-on-demand is becoming increasingly popular. Nowadays, anyone can use it to have their very own personal print product produced. Print-on-demand (POD) usually runs via web-to-print platforms. There, each product can be developed individually. After it has been checked by the provider, it is printed.

Many print-on-demand providers rely on user-generated designs. This has the advantage that the POD platforms do not have to hire their designers and can offer a wide range of designs with the many designs of the users. The designers receive a share of the profits in the form of a commission when their designs are sold. There are countless print-on-demand platforms. Redbubble, Teepublic, Spreadshirt, Merch by Amazon, and Society 6 are well-known platforms that all rely on the commission model.

Affiliate Marketing

4) Affiliate Marketing

Affiliate marketing is a wonderful way to earn passive income. It is a simple business model where you get a commission for promoting or selling a product or service that you are not directly associated with. This can be linked to a blog or social media, for example, because nowadays you can offer almost all affiliate programs on third-party platforms. For example, if you are already very active on Facebook, YouTube or Instagram and regularly publish content, you can earn extra money with additional affiliate links.

These are just a few ways that you can make money online without experience, but they’re all good ones to get started with.

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Forex Trading Strategies That Work

What is Forex?

Forex trading, also known as FX is a decentralized global market where one can trade national currencies. Forex trading is the most liquid market in the world and offers leverage, which means that you can trade with more money than you have. In forex trading, you buy one currency and sell another to make a profit from the difference in rates. It consists of the world’s major national currencies and other more exotic currencies.

What is the most traded currency pair on the forex market?

The most traded currency pair on the forex market is EUR/USD. The Euro and the US Dollar are two of the most traded currencies in the world. The Euro is used by 17 countries in the European Union, while the US Dollar is used by many countries around the world. More than 1/3 of all foreign exchange transactions are settled with this currency pair.

Which country has the greatest influence on the foreign exchange market?

The United States is the country with the greatest influence on the foreign exchange market. They play a role in both the supply and demand of currencies. This is because they have a high GDP, which means they can afford to buy a lot of foreign currencies, and they are one of the largest economies in the world. The United States also plays an important role in international trade, which means that many countries need U.S. dollars to buy and sell goods.

Is it possible to make money with Forex trading without experience?

The forex market is a challenging environment for traders. Without experience, it is not easy to make money in forex trading. You need to have some basic knowledge about the market and its dynamics. Many people want to trade in the forex market without any experience. They think that they can make money in forex trading without experience, but this is not true. The first thing you need to do if you want to do forex trading without experience is to practice with a demo account or demo platform. Learning forex strategies will also help you understand the market better and be more successful in your trades.

What are the most profitable forex strategies?

Forex is a popular form of trading, but it can be difficult to know where to start. There are many Forex strategies that traders can use, but not all of them are equally profitable. The most profitable forex strategy is to buy towards the end of a downtrend and sell short at the beginning of an uptrend. This means that traders would buy stocks when they are in a downtrend at the end of 2021, and then sell them when they start to rise in early 2022. The trader could then wait until the market reaches a certain point before buying back the same shares at a reduced price.
The simplest trade is to buy a currency or stock when it is relatively weak and sell it when it is relatively strong. This trade can be profitable in the long run if traders are patient enough to wait for their strategy to work. For this to be profitable, traders must always place stop loss orders and be prepared to exit at short notice if the market makes a sharp turn against them.

Most popular forex strategies

  • Scalping
  • Day trading
  • News trading
  • Trend trading
  • Momentum trading

What are the most common mistakes that new traders make?

  1. No research about the company and its products.
  2. Not adhering to a trading plan.
  3. Overlooking the risks associated with trading.
  4. Trading too much and not diversifying their portfolio enough.
  5. Giving up too quickly when there is no immediate success.

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