Strategic account management (SAM) involves techniques to acquire and retain the client accounts that matter most to the performance of the business.
It advocates that ensuring good management of these core accounts the total profits and value of the company can be increased. Out of a study of 373 SAM users, 73 were highest performers and they have reiterated the fact that it was their SAM initiatives that made them high achievers.
Having a SAM tool, a SAM plan and process in place, having the knowledge to increase capabilities of employees to help strategic accounts are very important in implementing a successful SAM initiative.
The main components of SAM are: Strategy and operations, execution, accountability, motivation, team and capability.