Key Account Managers Spend 20 to 25 Percent of Time Strategizing and Coordinating for Stakeholder Meetings, According to Cutting Edge Information

RESEARCH TRIANGLE PARK, N.C. --(Marketwired - February 25, 2016) - Because the majority of a key account manager's time is spent with key account stakeholders, planning for these meetings is a consistent part of pharmaceutical key account management (KAM). According to primary intelligence provider Cutting Edge Information, most surveyed key account managers dedicate 20 percent to 25 percent of their time strategizing and coordinating for stakeholder meetings.

Groundwork is essential for key account managers because their main targets are typically C-suite executives or other high-level managers who are responsible for making strategic decisions for their companies.

"Key account managers must be able to access a wide range of information on accounts and should adequately prepare before each visit to ensure that meetings are tailored to maximize face time with key stakeholders," said Jacob Presson, senior research analyst at Cutting Edge Information.

In addition to meeting with key stakeholders and meeting planning, key account managers are tasked with a variety of other duties including giving/receiving training, traveling, communicating with account stakeholders and completing administrative tasks.

Pharmaceutical Key Account Management: Forging a Unified Relationship with External Stakeholders, found at http://www.cuttingedgeinfo.com/research/sales/key-account-management/, details how Key Account Managers (KAMs) combine sales proficiency with managed markets knowledge to create a single point of contact for diverse customers who have different and challenging needs.

The study includes:
- Implementation of KAM teams to shift commercial strategies to a more customer-centric, holistic account management practice.
- Examination of profiles belonging to real-world KAM teams to benchmark your internal operations.
- Information on ensuring that account interactions align with stated and defined goals of the KAM function.
- How to recruit and keep the top-performing experienced pharma sales reps to fill KAM teams.

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