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Key account management (KAM) has never been so important in the financial services (FS) industry. As the FS market becomes more competitive, more global and more mature, effective customer relationship management (CRM) has become a big issue, of which the KAM approach is an essential part. Key Account Management in Financial Services has been written in response to demand for a book devoted exclusively to the subject for this market. It offers specific advice on marketing and selling financial products, with real-world examples and case studies from FS companies around the globe. Compiled from original in-depth research and interviews, it is divided into seven parts and is designed to take the reader through the process of analysis, planning, implementation and performance monitoring, so it can be used as a ’before, during, and after’ guide to practical implementation. This book is a must-have for anyone working or studying in this field. About the Author Merlin Stone Merlin Stone is Business Research Leader with IBM’s Business Consulting Services, where his role combines consulting and marketing with the development of business research partnerships with IBM’s clients, partners and universities. He runs the IBM Marketing Transformation Group and is a director of The Database Group Ltd as well as QCi Ltd, an Ogilvy One company that specializes in customer management consulting. His consulting experience covers many sectors, including financial services, utilities, telecommunications, travel and transport, retailing, automotive, energy and IT. Bryan Foss is Customer Loyalty Solutions Executive within IBM Global Financial Services, currently leading an IBM business providing and integrating application-based CRM solutions for Financial Services companies worldwide. Typical B2C and B2B projects have included pragmatic customer management consulting, data warehouse & marketing database build, data analysis and data mining, and integrated customer campaign communications, including contact centre, web and mobile e-business. Peter Cheverton is a Director of INSIGHT Marketing and People, an international training and consultancy firm specializing in marketing and key account management, with clients in fmcg, financial services, pharmaceuticals, speciality chemicals and IT. He is the author of Key Account Management, and Key Marketing Skills, both published by Kogan Page Table of Contents Part I Defining Key Account Management in Financial Services 1 Why financial services are special 2 What is a key account in financial services? 3 Competitive advantage through managing the future 4 Key account management - its purpose 5 Developing the relationship 6 The good, the bad and the sad 7 KAM profitability Part II The Customer Perspective 8 The buying process in financial services 9 Supplier positioning - becoming a key supplier 10 Measuring value 11 Measuring trust 12 Managing financial services suppliers 13 Understanding business strategy, culture and values becoming a strategic supplier Part III Preparing for Key Account Management 14 What Will it Take? Goals and Obstacles 15 What Will it Take? Skills 16 What Will it Take? Processes and Systems 17 What Will it Take? Organization and Resources 18 What Will it Take? Making it Happen Part IV Identifying Key Accounts 19 The 10-Step Process 20 Segmentation 21 Identifying your Key Accounts 22 Customer Distinction Part V Entry Strategies 23 The Customer’s Decision-Making Process 24 Selling to the Organization - the DMU Part VI Meeting the Customer’s Needs 25 Meeting the Business Needs - Beyond Benefits 26 Positive Impact Analysis (PLA) 27 Key Account Management and the E-Revolution 28 Making the Proposal 29 Selling to the Individual Part VII Keeping on Trick 30 Getting three - Timetable and Performance 31 Writing the Key Account Plan 32 Getting Further Help References Index