What do Account Managers do?

An Account Manager would typically need to:

• Customer service, upselling, technical assistance, and general relationship management are provided to individual clients whose accounts have been assigned to them.
• Recognise each client’s short-term and long-term business objectives.
• Create project proposals that include negotiable budgets, timelines, and tactics that align with organisational goals.
• Collaborate with the production and sales teams to define the scope of the project and generate viable estimates.
• To ensure that intended targets are met, resolve difficulties and execute risk mitigation techniques.
• Collaborate closely with key company staff to develop feasible solutions that fulfil the goals and expectations of the client.
• Build and maintain a lucrative relationship with each client under their supervision; supervise team members’ interactions with the client.
• Maintain customer awareness of new items (upsell and cross-sell) in order to enhance sales and satisfy income targets.
• Guide the customer through localisation techniques and best practices; remain ready to resolve any client questions or issues
• If you are unable to handle the client’s issues or concerns on your own, direct them through the correct channels within the organisation.
• Manage their account portfolio effectively; establish a healthy working relationship with key players in assigned client accounts
• Conduct regular business reviews with customer relationship management (CRM) programmes to ensure client happiness.
• Provide regular reports and status updates to the client that inform them of the value they are receiving while also pushing renewal and upsell chances.
• Examine revenue, expenses, and resources such as merchandise and fundraising materials.
• Work with senior management to research, adapt, and implement ideas that will help the organisation keep up with ever-changing industry trends and rivals.
• During internal meetings and seminars, prepare and provide required critical analyses, plans, contact reports, and presentations.
• Look for new business options, such as corporate collaborations, to maximise the company’s potential revenue.
• Prepare fresh company proposals and pitch them to prospective clients.

Standard Work Environment

Full-time Account Managers may work at a computer in well-lit offices, while virtual work is becoming more common. They collaborate closely with top executives and potential candidates in the sales and marketing departments.

To generate new business, you may travel locally and abroad to meet clients or media representatives, as well as attend conferences or networking events.

Work Schedule

Full-time Account Managers operate a typical work schedule that may occasionally exceed 40 hours per week to fulfil deadlines, meet with customers, or attend networking events in the evenings or on weekends. To satisfy your clients’ time zones, you may need to operate outside of conventional office hours on occasion.

Employers

Finding a new job may appear difficult. Account Managers can improve their job search by asking their network for referrals, contacting firms directly, using job search platforms, attending job fairs, leveraging social media, and inquiring at staffing agencies.

Account Managers are generally employed by:

• Consulting Firms 
• Service Providers
• Tech Companies
• Employment Agencies
• Advertising Agencies
• Public Relations Firms
• Advertising Companies
• Banking Firms
• Biotech Companies
• Marketing Organizations
• Healthcare Companies
• Pharmaceutics Organizations
• Software Organizations
• Food & Beverage Manufacturers
• Online Retail Companies
• Event Management Firms

Unions / Professional Organizations

Account Managers who want to pursue professional development or network with other professionals in their business or occupation might join professional associations and organisations like The Strategic Account Management Association (SAMA). Membership in one or more of these organisations adds value to your CV while strengthening your credentials and qualifications.

Workplace Challenges

• The need to communicate clearly with the client and their team to avoid miscommunication and misunderstanding
• Clients with insufficient knowledge of their industry
• Getting the client to accept strategic recommendations in the face of slow or immeasurable returns on investment
• Make sure relevant stakeholders in the organisation are in sync with the client’s needs and expectations
• Ensure project budgets and timelines constantly meet with the approval of the client and top management
• High probability of chaos when the client works with more than one account manager
• Inability to stay on track when consultants working with the client fail to keep the account manager in the loop
• Work ethics are at stake when the client asks for confidential business information
• Unforeseen ad-hoc requests from the client that throw a spanner into carefully planned-out strategies and projects
• Stress due to demanding clients and more accounts than can be managed efficiently

Work Experience Suggestions

Considerable experience in lower-level sales, marketing, or customer service positions involving direct customer interaction will help hone critical interpersonal skills and achieve the goal of becoming a successful Account Manager who can ensure customer satisfaction and an increase in customer base.

Marketing apprenticeships and internships, in which you obtain the most benefit from duties outside the classroom that are ideally aligned with your courses inside, may also be useful.

When more experienced workers manage to turn seemingly ordinary occurrences into unique learning experiences, you may be able to hear endless stories from them and gain significant hands-on experience.

Candidates with experience in major accounts, sales, or account management will have an advantage in the job market. Employers who offer technical or scientific products may also seek people with prior experience in that field.

Recommended Qualifications

A high school graduation and some sales experience would help an aspirant Account Manager find entry-level work in non-technical sectors.

A bachelor’s degree in business administration, sales management, mathematics, marketing, communications, or advertising, on the other hand, will help you get a job in a company that sells specialised products.

Aspirants with a healthcare, chemistry, biology, or engineering degree can qualify for positions in medical device manufacturing organisations. Those interested in finance accounting may need to take courses in business administration, finance, securities, or banking.

Aspiring Account Managers might also think about getting an HND (Higher National Diploma) in advertising, marketing, communication, or business management. A postgraduate diploma in marketing, digital marketing, or marketing communications may be beneficial as well.

Employers, on the other hand, prefer applicants with a postgraduate technical degree or a master’s degree in business administration or management, as these qualifications bring significant value to customer contacts and data analysis.

In high school, concentrate on math, commerce, accounting, statistics, and English.

Certifications, Licenses and Registration

Certification normally requires a mix of education, experience, and examination, though criteria vary by location. By including a Code of Ethics, successful certification programmes defend the public welfare.

Certification in management accounting, sales management, and project management from a reputable and objective organisation will assist potential Account Managers in standing out in a competitive employment market, increasing their chances of progression, and becoming independent consultants.

Aside from demonstrating accounting and financial management skills that promote corporate performance, desirable certifications assist Account Managers in demonstrating their capacity to handle significant accounts.

Account Managers who intend to deal in securities should check to see if they need to register with a local financial regulatory organisation.

A person’s work history, schooling, credit history, motor vehicle records (MVRs), criminal record, medical history, use of social media, and drug screening may also be required.

Expected Career Path

Account Managers advance in their careers through performance, experience, and the acquisition of professional certifications. They may become Senior Account Managers, National Account Managers, and Account Directors. One could eventually advance to the position of Director of Account, in command of the entire account management department.

Before getting promoted to Vice-President or Director of Sales, you may work as a Regional or National Sales Manager. Other options include becoming a Business Development Manager or Director on your way to a senior marketing or sales position.

A few become Consultants for various companies, and effective Account Managers may proceed to Operations Manager positions.

Job Prospects

Candidates with relevant experience, outstanding customer service and interpersonal skills, and suitable education have the best career prospects.

Beneficial Professional Development

CPD will assist an active Account Manager in developing personal skills and proficiency through work-based learning, a professional activity, formal education, or self-directed learning. CPD also allows for the consistent renewal of desirable qualifications and registrations.

In most cases, new employees receive on-the-job training to assist them gain a better understanding of the company’s products and services, workflow, and computer systems. Maintain and improve your communication and interpersonal abilities.

A well-developed network, regular meetings with useful people, and attendance at business events should allow you to stay current on industry trends and maintain a competitive edge at work.

A master’s degree in a relevant topic and certification in strategic account management skills will help a forward-thinking Account Manager advance in their career.

Conclusion of Account Manager

It is not everyone’s cup of tea, but Account Managers that succeed in promoting their customers’ business requirements and objectives reduce negative customer attrition, save money, and enhance revenues.

Advice from the Wise

Your client is a real person who responds best to tailored solutions and personalised offers.

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