Channel account managers (CAMs) are the company’s front-line ambassadors.
They juggle several indirect sales partners and work closely with in-house marketing teams to create training programs, marketing materials and incentive programs that drive revenue and growth for your company.It’s a vital position however hiring an efficient and committed account manager is another story altogether.I’ve personally looked at some job descriptions and seen some capabilities that are important to the job, but I also think there are some missing capabilities there. That’s why I thought of discussing the 5 important responsibilities when looking for an account manager.In my opinion, here’s what you should look out for:
1. Identify partners
A skilled account manager can identify high-revenue potential and profitable partners. They understand the difference between partner X and partner Y. They also know how to segment and communicate their partner’s products and value to customers.
It’s common for CAMs to work with more than 100 partners at the same time - so it’s necessary to have a lot of industry knowledge. Once they identify potential partners, it’s time to build relationships.
2. Building a relationship
CAM’s must have a trustful relationships with their sales partners. In another video, I explained the importance of creating commitment with your partners.
Most commitments are based on trust. You have to reach a point where you and your partner can discuss problems, engage in comfortable conflicts and build solutions.In order to build trust, great CAMs understand their partners’ objectives and goals. They then align their own goals with their partner’s to develop a mutually beneficial road to success.
A common misconception is that CAMs should be great salespeople. Just to clarify, there’s no harm in having exceptional sales skills.
A CAM’s job often involves understanding your product and explaining it to customers - but great CAMs are more focused on coaching and training.
CAMs function in a business development role as opposed to traditional sales. They coach, train, collaborate with partners and brainstorm resources that can accelerate revenue.
They’re also in charge of fostering relationships between your company and your sales partners’ company.
Top-performing CAMs utilize predictive analytics, data science and technology to build effective channel building strategies. They also measure and monitor a partner’s growth or success.
This isn’t as simple as comparing partner revenue performance vs. established targets over time. A skilled CAM must be analytical to understand the factors that influence future sales such as deal frequency, rate of adoption of new products, trainings completed and more.
5. Added Value
Added value is often forgotten but it’s probably one of the most important responsibilities for CAMs.CAMs also function as a strategic advisor of your partner. As a result, have to understand strategic paint points and possess a strong business and financial knowledge. They then leverage these skills to add value-based insights which compel companies to continue doing business with your company.
If you’re thinking of hiring a channel account manager, they better have all of the above qualities. They have to identify high-revenue partners, build relationships, utilize analytics and more!I wish you the best of luck in finding the best candidates!
Got any tips for finding channel account managers? Let us know in the comments below. You can also find a video version on our youtube channel "How to achieve great business results"
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Written by : Frie Pétré