Account management lies at the heart of business-to-business relationship building. This highly diverse role draws on the key elements of sales, customer support and administration with an emphasis placed on retaining and improving existing revenue streams whilst nurturing new business opportunities.
Let’s take a look at some of the most common responsibilities that you’ll need to master to become an amazing account manager!
What Does An Account Manager Do?
An account manager has overall responsibility for ensuring that their company meets the needs of their customers in such a way that they continue to use the products and services on offer for on-going and future projects.
However, an amazing account manager will take things a few steps further by offering unrivalled levels of service, regularly liaising with their contacts at each account to ensure that their every transferable need has been met.
They must use their intuition and experience to strike a balance with each of their clients that falls between progressing revenues and providing outstanding service. Some of the most common industries that rely on this sought after role include, but are not limited to:
- IT Services
- Marketing & Advertising
- Financial Services
- Corporate Training
- Engineering & Technology
- Facility Services
- Fleet Management & Freight
Consultancy plays a major part in the role as you will be required to work with your customers to create feasible budgets, handle queries, concerns and complaints, meet and exceed client expectations, and identify suitable ‘up sell’ opportunities.
What Skills Do I Need To Become An Amazing Account Manager?
Account managers within any business structure should be amongst the most adaptable, proactive employees within the workforce. They must have excellent interpersonal skills combined with outstanding professional conduct in order to build rapport with their customers and ultimately become a trusted, reliable partner.
An account manager must have an in-depth understanding of their customers’ business needs which will help to spot new opportunities to work with them on upcoming projects. However, clients are unlikely to give this information away easily, particularly if they have existing providers in place, which is why relationship building forms such an intrinsic part of the role.
Although an account manager’s first responsibility is to further business revenues for their own employers, a customer is unlikely to react favourably if they feel that they are constantly being ‘sold to’ rather than keeping their best interests at heart.
Communication, reliability and organisation are key tenets of this role as customers will expect their amazing account manager to do everything in their power to provide support and assistance where others cannot.
What Type Of Training Can Help Me To Become An Amazing Account Manager?
The duties of an account manager are generally transferable across multiple industries since much of the job relies heavily on the basic principles of sales and service. Developing your communication and organisational skills will play a big part in any success that you have, although this should be dove tailed with a commitment to staying on top of the latest developments within your business sector.
For example, a more generalised account manager is likely to come unstuck if a competitor with experience in IT has a specialised working knowledge of this sector. Day to day interactions within your chosen will help you to stand out from the crowd, overcome objections, and find opportunities that others may miss.
Account management covers a variety of different roles which can reflect both the region and importance of clients that you’re covering. Take a look at our example of career progression within this sphere, with guideline salaries supplied on a national average from GlassDoor.co.uk. The difference between being an account manager and an amazing account manager can easily translate into thousands of extra pounds per year, so it’s well worth investing in your training if this is a career you’re undertaking.
Entry Level account manager – £18,000 – £22,000
Standard account manager – £22,000 – £25,000
Key account manager – £40,000 – £50,000
National account manager – £40,000 – £50,000
Global account manager -£50,000 – £80,000
Account Director – £60,000 – £100,000+