This article is based on a panel discussion that took place involving Frederic Kahn, Vice President Global Sales at Wavelength Pharmaceuticals; Alessio Arcando, Professor at Bologna Business School and former Director of Strategic Key Accounts for West Europe for 3M; and Harvey Dunham, Managing Director for Strategy and Marketing at SAMA. Their conversation has been lightly edited for clarity and length.
Measuring ROI is vital in today’s world
It is essential in today’s world that SAMs prioritize measuring the return on investment (ROI) of their programs. Whereas approximately one third of attendees at SAMA’s 2020 Pan-European Conference measure and share their SAM program’s ROI metrics with key leaders in their company, 100 percent of SAMs should be continually assessing their program’s ROI.
There is pressure on SAMs to not only design, define and implement a strategic account management program but also to prove its value. By measuring ROI, SAMs safeguard their programs from cost-cutting measures. Often, the first areas to be targeted for cost cutting are central functions. SAM programs typically reside in these areas and thus are at risk. By having solid metrics at their disposal that demonstrate a return from the current level of investment, SAMs are better equipped to defend their programs.
Continue reading “Sustaining profitability: Measuring and quantifying the ROI or a strategic account management program”