The fast development of digital communication technologies has transformed key account management. This thesis, “The Impact of Digital Technologies on the Efficiency in Key Account Management,” explores how digital tools influence efficiency in key account management. Especially, it focuses on time-saving, cost reduction, operational streamlining and customer satisfaction. The shift towards digital communication technologies was accelerated by the COVID-19 pandemic, leading to long-term changes in customer expectations and the integration of technologies into daily business. Even with the widespread adoption, the efficiency of these digital tools in key account management is not explored. This thesis aims to fill this gap. The study addresses two research questions: how do digital communication technologies contribute to enhancing the efficiency of key account management processes, in terms of time-saving, cost reduction and overall operational streamlining and how do digital communication technologies contribute to a more efficient customer relationship maintaining process. The mixed-methods approach was used, combining a literature review with a quantitative survey. The survey was conducted with 50 key account managers and assessed the efficiency of digital communication tools across various key account management activities. The findings highlight that digital tools like email, messenger services and video conferencing reduce time spent on routine tasks and internal communication. Video conferencing in particular enhances cost efficiency by reducing travel time and expenses, allowing key account manager to focus on strategic tasks. Key account teams can collaborate efficiently and share information in real time by using video conferencing and messenger services. Social media facilitates fast market changes and increases the flexibility in key account management in offering insights into customer behavior. Moreover, digital communication technologies make personalized interactions, trust building and real time feedback possible. However, maintaining the human touch is still difficult. Furthermore, limitations include the small sample size of 50 participants, potential bias from self-reported measures and the fast-evolving nature of digital communication technologies. The study also looks at specific efficiency measures, possibly overlooking other aspects of key account management. Future research should include the long-term effects of digital technologies on key account management efficiency and investigate on advanced technologies. Exploring chatbot interaction and hybrid communication models may help to maintain personal connections. In conclusion, digital communication technologies have changed key account management, enhancing efficiency while presenting new challenges. Companies have to balance digital and face-to-face meetings, invest in reliable tools and training and encourage organizational change to fully leverage these technologies. Future research will be important to stay updated on developments in key account management efficiency.
The Impact of Digital Technologies on the Efficiency in Key Account Management
Köglberger, K. (Author). 2024
Student thesis: Bachelor's Thesis