An Account Manager is an employee who works for a business and is responsible for sales and relationship management with specific customers. They retain the current relationships of the company with a customer or group of customers, so they can continue to use the company for business. Account managers act as the interface in a corporation between the customer support and the sales staff.
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What Does an Account Manager Usually Do?
The Account Manager is used to understand the requirements of the client, to prepare how to fulfil these requirements and as a result, to generate revenue for the business.
Here’s a list of activities an Account Manager typically performs on a monthly basis:
- Establish and maintain a professional relationship with clients
- Upsell a company’s services and solutions
- Manage a client’s projects from beginning to end
- Take a client’s requirements and assist with meeting those requirements
- Help management with company-wide strategic planning
Establish and maintain a professional relationship with clients
Account managers are largely responsible for cultivating customer relationships; collaborating with sales and marketing departments to plan presentations and sales pitches; designing marketing campaigns and media proposals; managing customer interactions and writing customer reports; and communicating customer agendas to other members of staff.
Upsell a company’s services and solutions
Part salesperson, part customer-service rep, an account manager is all about doing whatever it takes to get the job done. This may include selling add-on services/products to both existing and new clients. Account Managers work closely with the sales and strategic teams, meaning any potential sources of revenue should be chased. Monitoring budgets, spending and revenue, and explaining cost factors to clients are also part of the job.
Account managers will typically spend much of their time in the office, either responding to inbound requests or being optimistic about a new product feature, so that they can reach consumers.
Manage a client’s projects from beginning to end
They guarantee customer satisfaction and loyalty to the product or service of a business. As a consequence, account managers must also respond to requests from incoming customers, such as concerns about installation of the product and service, process, bugs, or other problems. They must also be vigilant and notify consumers for any product-related future changes, including redesign, upgrades, repairs, and downtime. They are the voice of the business, as a preferred touch for customers.
Assist with meeting client’s requirements
Account managers must be able to assess and appreciate each client’s activities and challenges. Although they are product experts first and foremost, in order to fulfil consumer needs, they must also know their customers well and listen attentively. This may mean proposing working with external sources to ensure that the client’s requirements are met, and that their business stays with the company.
Help management with company-wide strategic planning
Assist management with refreshing the strategic proposal at key junctures—annual planning, quarterly business reviews. Use customer/client feedback and create reports that can be sent through to the management and sales teams. They can then use this feedback, both negative and positive, to increase customer retention, satisfaction, and ultimately secure more clients for future business.
Roles an Account Manager Typically Collaborates With
An Account Manager can work closely with a number of different functions, depending on the structure of the company. The most prevalent ones here are:
|Roles Account Managers Collaborate With|
|Sales Representative||Sales Manager||Customer Service|
|Product Development||Marketing||General Manager|
|Chief Information Officer||Brand Manager||Information Technology Manager|
Account Manager Salary
For an Account Manager in the United States, the average annual income is about $54,000.
The annual salary of an Account Manager will range between $38,000 and $83,000 depending on the experience, the skillset, and the business.
What is the Account Manager Pay Difference by Location?
Here is how an average annual Account Manager’s salary differs in major U.S. cities:
|City||Average Annual Salary|
|San Francisco, CA||$72,711|
|New York, NY||$64,226|
What is the Account Manager Pay Difference by Experience?
The level of experience also impacts an Account Manager’s salary. Here’s a table of average Account Manager salaries by experience level:
|Years of Experience||Average Annual Salary|
Account Manager Job Description Template
[Company Name] is seeking a skilled, innovative Account Manager to join our team in order to help us develop, build upon, and maintain our client relationships.
As an Account Manager at [Company], your goal is to keep clients or accounts as long as possible. Account managers may be in charge of finding new business, be assigned prospects, given accounts, or a combination thereof. Project management, strategic planning, sales support, product design, service application, logistics and marketing may be involved in the activities. With the objective of growing brand recognition, improving customer engagement, and driving sales and conversions, you will work alongside our [internal teams E.g. Sales Department, Strategic Department]. As well as having exceptional relationship skills, you should have good communication and leadership abilities.
Account Manager Responsibilities:
- Generate sales for a portfolio of accounts and reach the company’s sales target
- Identify potential revenue opportunities in current accounts by up-selling and cross-selling to maintain a customer-account manager partnership.
- Manage and solve conflicts with clients.
- Interact and collaborate in other divisions with the sales team and other staff members working on the same account.
- Establish budgets with the client and company
- Meet time deadlines for accounts
Account Manager Requirements:
- Account Management Experience
- Client-Focused Solutions Experience
- Project Management Skills
- Ability to Communicate Client Needs with Staff
- Talent for Influencing Client Management
- Ability to Manage Multiple Projects and Relationships Simultaneously
- Negotiation Skills
- Listening Skills
- Communication Skills
- Presentation Skills
- Time Management Skills
- BA/BS Degree