Strategic Account Management (SAM) Program – Great Program by Choice!
As I continue to search for actionable knowledge to apply to creating an effective Strategic Account Management (SAM) program I found a gem; the latest book by Jim Collins and Morten Hansen “Great by Choice”. His team’s previous works include; Good to Great, Built to Last, How the Mighty Fall. “Great by Choice” has some great applications for achieving extraordinary SAM program success. Some core points within this work really align to and apply to the business best practice of Strategic Account Management.
Think through just a few of these characteristics as I review what Jim and his team reveal as the commonality amongst 10X companies; companies that have exceeded their industry performance index by at least 10X:
1. The 20 mile march
Rigor and discipline to be consistent in execution of what works and makes you successful
- Follow the SAM process
2. Fires bullets and then only well-thought through cannonballs
Deploys in small steps without totally disrupting core business direction, practices and or philosophies
- Pilot SAM program and make ongoing corrections as appropriate
3. Manage cash
Manage solvency so that you can weather market spikes (up or down)
- Ensure that you have the right strategic accounts; revenue as well as profitability and willingness to partner
4. Zoom Out – then Zoom In
Step back, analyze, strategize then focus in on key actions to take
- Establish important “voice of the customer” facts – feedback
- Fact-based (performance metrics) development of strategies and deployment of tactics – account planning
5. Have a SMaC recipe
Specific, Methodical and Consistent recipe for success
- Having an account plan that is inspected frequently and validated in collaboration with the client
I am not usually in the book-recommending business but this is a good one! – You are welcome Jim and Mort!
Dennis Chapman, Sr.