Purpose Key account management (KAM) has been recognized as one of the most strategic and effective selling approaches in business-to-business (B2B) contexts. Given that the inability to develop compelling value propositions (VPs) for key accounts (KAs) can diminish the effectiveness of KAM, this paper aims to recognize potential challenges in co-developing impactful VPs in KAM and to propose strategic solutions to address them. Design/methodology/approach By integrating KAM’s key components and VP phases, and adopting the service-dominant (S-D) logic, this study develops a conceptual framework for a value-based KAM system. It then conducts a literature review through a diagnostic lens to identify strategic challenges in developing effective VPs within the B2B context. This study next uses the theory synthesis approach to create strategic solutions that address the identified challenges within KAM. Findings This research presents a conceptual framework for a value-based KAM system. It then identifies five strategic challenges in developing impactful VPs in KAM: selecting and designing relevant value offerings, translating the VP from a promise into concrete actions, advancing network-oriented value co-creation, effectively communicating the value and ongoing validation of value-in-use. Ultimately, it proposes strategic solutions to address these issues. Originality/value To the best of the authors’ knowledge, this study is among the first studies to conceptualize value-based KAM and propose it as an important value-based selling approach.
Yaghtin et al. (Thu,) studied this question.