ABSTRACT
Engaging and motivating key account teams is critical to the success of life sciences companies’ implementation of key account management (KAM) models. The key account manager role is a substantially different role from field sales and, consequently, requires unique approaches to incentive compensation (IC) plan design. Unfortunately, many life sciences companies have relatively limited KAM experience and often apply field sales compensation practices to the key account manager role—resulting in key account manager IC that’s often too focused on short-term demand generation and not enough on broader, longer-term KAM program objectives. In this chapter, we describe six guiding principles critical to designing and implementing an effective key account manager IC plan.
