There is a saying that it costs five times more to get a new customer than to retain one and yet we find many companies today fail to manage such assets well that they finally ended up in the hands of the competitors. A key account is defined by the fact that it generates volume sales and an attractive profit margin to the seller company and it is on this basic that companies should start instituting plans on how to consolidate such accounts without having to look for new ones. After all, much time and money have already been spent initially to acquire the account. Now it has started to do business with the company, it should make every effort to jealousy guard it from going over to the competitors

Objectives