Key account management is the systematic work with the segment of customers that accounts for the largest share of revenue or has the greatest potential to grow. It is not just about good relationships: it includes a designated responsible person, a plan for developing the cooperation, regular meetings that are not about solving problems, and an overview of who decides on the client's side and who could replace them. The aim is to reduce the risk of churn and to recognise its signals early – falling volumes, a change of contact person, or enquiries on the market. Companies with a high concentration of revenue should monitor what share the largest client makes up, because losing it could threaten the business's operation. This is precisely why key account management is linked to the targeted expansion of the customer base.
See also: Customer retention, Upsell and cross-sell, NPS – Net Promoter Score.
