A hidden champion and global market leader for technical interior fittings was confronted with rapidly growing demands on account management from its customers. In particular, globally active groups from the life sciences sector, especially pharmaceuticals, chemicals and large laboratory chains, were demanding global contacts who would orchestrate all sales activities within the worldwide group of companies with 16 subsidiaries. The interim manager was tasked with evaluating the current account management and identifying the areas in which global account management should be established.
Always with an eye on resources (personnel, budget), it was necessary to decide which of the key accounts should be developed into global accounts. It also had to be clarified with which team or organization these should be mapped.
Potential global accounts divided into industry segments as clusters and verticals
At the beginning of the mandate, the interim manager divided the potential global accounts into different industry segments, so-called clusters or "verticals". This specialist division proved its worth, as target customers within a vertical have similar requirements for solutions and similar goals.
The advantage of this approach was obvious. The hidden champion was able to pool resources and demonstrate even greater specialist expertise to customers. It also achieved even better integration of activities. Specialist teams could be set up that knew the specifics of the industry and reacted accordingly. For example, internal sales, quotation calculation and service could be set up in a sector-specific manner. As a result, well-planned and implemented verticals ensured greater efficiency and higher customer satisfaction.
Market and potential analysis for verticals - competitors and potential analyzed
In the next step, the interim manager worked with the teams to evaluate the verticals based on an intensive global market and potential analysis. Competitors were also identified and the maximum potential per customer was determined. Based on the possible sales potential, the interim manager ranked the global account candidates within the verticals. However, global accounts were only named where the highest possible market or sales share could be achieved with the existing organization or with a simple expansion.
Up to two key accounts for global management identified in each of eight verticals
Building up global account management (GAM) is an expensive investment. For this reason, its introduction should be carefully considered. The interim manager assessed the prospects of success based on the following four criteria:
- The products or services require global coordination and are profitable enough to justify it.
- The multinational customers demand a GAM.
- The multinational clients are so important to the company that ending the relationship would weaken the company.
- The company can gain a competitive advantage through global account management.
In total, the interim manager examined eight potential verticals in collaboration with the respective teams. In each vertical, he classified up to two key accounts as global accounts. The next step was to rank the global account candidates. Finally, the interim manager was involved in determining global accounts and global account managers.
Global accounts noticeably improve positioning with customers and employees
The bottom line is that the hidden champion was able to position itself significantly better overall: on the market, with customers and also with potential employees. By focusing on a small number of global accounts, the client was able to adapt much better to the objectives of its international customers. At the same time, the global managers found increasingly high-ranking contacts at the customers. They were therefore able to better position the company for highly interesting target customers.
Successfully securing the largest order in the company's history
This led to joint product developments being driven forward with the most interesting global accounts as part of a customer co-creation approach. This also included a new and customized product for one of the largest investment projects in the industry. As the largest order in the company's history, the project set new standards worldwide.
