Success factors in key accounts

Abstract

Purpose The paper seeks to present research that examines the success factors for key accounts within firms, i.e. what factors lead to successful versus unsuccessful key accounts. Design/methodology/approach Data from a consulting firm are analyzed to examine the success factors for key accounts within firms. Findings The results suggest that marketers' relational assets, personal/social bonds, dissatisfaction, and change in environment are the primary drivers of key account success. Research limitations/implications The paper summarizes one's understanding in this area and provides additional data that will allow firms to re‐evaluate their strategies regarding success of specific key accounts. In the light of the sample, additional studies are suggested. Practical implications Marketers need to invest more in relational assets, personal/social bonds, and satisfaction activities as well as monitor changes in the environment. Originality/value Key accounts have become an integral part of most business firms, as key account teams are created to provide extra attention to important customers and to allow a consolidation of selling activities to geographically dispersed large customer firms. Previous research has examined the success factors of key account programs between firms and this paper provides data on the success factors of key accounts within firms.

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