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Five Principals of Key Account Management

Author: Alan Gillies

In an increasingly sophisticated and competitive environment, pharmaceutical companies now realise that it is not sufficient to treat clients with a uniform approach and that certain client accounts represent an increased level of importance. This can be due to their position of dominance within the market, the volume of transactions or any other strategic elements making them of particular interest to the company. As such, key account management strategies must be implemented and communicated to the sales and marketing team as the company aims to cement relationships with these principles. More

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How Important is Key Account Management?

Author: Alan Gillies

Some business practitioners use a metric termed the 80/20 rule, which dictates that 80% of an organisation's business comes from just 20% of its clients. Whether this is essentially correct or not, it is certainly true that some clients take on additional importance in the eyes of the pharmaceutical company, whether this is from the point of view of transactions, their market dominance or other more strategic elements such as the provision of a gateway to other segments and markets. In these cases, key account management strategies must be established by the company and must be adequately communicated and implemented within the sales and marketing team as a core priority. More

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