What Is an Account Manager? How to Become One, Salary, Skills

Sales managers aim to boost revenue by directing sales teams to achieve pre-set goals. After analyzing sales statistics, they understand how well the team is performing and identify where improvements or cutbacks need to be made. They update leaders on their team’s performance, and provide suggestions to increase productivity. They also develop new techniques to sell products or solutions faster – like a new message to start with for cold calling – to bring in new clients. Accomplished sales managers also actively collaborate with marketing teams to develop messages that their team members can use, and are on the constant lookout for selling points that focus on customer needs. They can also find potential gaps in the market, and train their teams to target potential buyers with a convincing sales pitch.

In addition to sales and relationship management, Account Executives may also be responsible for market research, creating and delivering sales presentations, and managing client accounts. They may work closely with other departments, such as marketing and product development, to ensure that customer needs are met and sales goals are achieved. Account managers are responsible for managing relationships with clients, while sales executives are responsible for generating new business leads. Sales Managers are responsible for leading and motivating a team of salespeople in order to hit targets and achieve objectives. Sales Managers also work closely with other departments within the company, such as marketing, to ensure that the sales team has the resources and support they need to be successful.

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During the sale process, they collect information about the clients including personal data, hobbies, interests, and business needs. Account managers are employed across a wide variety of industries including Sales Manager job advertising, financial services and media. As with most sales roles, these account managers are typically compensated with a base salary plus a commission based upon the amount of revenue generated.

Failure to meet this requirement may result in an account manager being put onto performance probation. Lucidchart integrates with Salesforce and other software like Google Docs and Microsoft Word, making it easy to visualize data and relationships and share your insights with team members and customers. FlexJobs is a subscription service for job seekersthat features flexible and remote jobs. With an A+ rating from theBetter Business Bureau, the monthly subscription costs allow us to fully vet and verify all of thejobs on our site—ensuring that customers have a safe and positive job searching experience. Do as your larger competitors do – ideally with dedicated professionals in marketing, account management, and sales.

Your Existing Customers Matter the Most

Your business will generate more qualified leads when you have expert marketers. Plus, convert more leads to new customers with your dedicated salespeople, and your account managers will work on getting more business from your existing customers. This is the setup your small business needs to compete and grow its market share. The mistake that too many organizations make during hard times is they panic, hire more sales reps, and put all of their focus into landing new names and building out their roster of clients. They think that now is the time to bring in some quick and easy revenue growth all while their existing customers fall to the wayside.

• They check in on customers, serve as main point of contact, and handle upsells and contract renewals when appropriate.
• Key account managers should visit or call their key customers regularly so they can tailor their services to them and be sure they are on track to achieving their goals.
• In order to do this, they not only need to sell to the customer but also negotiate terms so both parties end up happy.
• They bring in business through actions such as cold calls and following up on leads.
• According to the most recent statistics collected by the Bureau of Labor Statistics, the median annual wage for advertising sales agents, which includes Account Executives, was $52,340.
• And losing one of those key accounts could have dire consequences for your business’s bottom line and long-term viability.

The management of a business may need to hire account managers, sales executives, and other roles with specific responsibilities in order to run the business effectively. Even if your sales team is responsible for strategic account management, it’s important to understand the different skills required so that both roles can be executed successfully. A sales manager is responsible for leading a team of salespeople and helping them to meet their targets. A sales manager needs to be able to coach and motivate team members to reach their goals. They also need to have strong negotiation skills to help resolve conflicts between team members and to get the best deals for their products or services.

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Therefore the roles require different mindsets, goals, and core responsibilities. Everybody knows that although not as exciting as 50+ point shootouts, a strong defense can keep any team in check and can win the game for the team. Football analogies aside, when you have a strong defensive strategy and are bracing for the impending market downturn, you can minimize the damage and keep the score where it was. Unfortunately, sales professionals are incredibly skilled at selling – and that includes themselves. On the flip side, the cost of hiring the wrong salesperson can be significant. According to a report by DePaul University, the cost of a bad hire can range from 30% to 200% of the employee’s first-year salary.

Treat it like another tool for your sales, and use it when you meet with the president as an indicator of your value. We analyzed thousands of career transitions in your industry and identified the highest value skills to build as a Sales Account Manager. Building these skills will set you up for the most number of the above careers. KJ Henderson has more than a decade of HR and talent acquisition experience.

Similar Job Titles to a Sales Account Manager

While both teams follow different cadences of work, at the end – they are tied to the client’s decisions. There’s no way to know how long closing a deal will take – ranging from weeks and months to even years , sales teams keep their pitch on all the time. They don’t rest until the sale is closed and the account is handed to… the account management team. Other questions must be answered to maximize the success of strategic account management as a system and part of the culture at your company.

Whereas in Washington and New Jersey, they would average $59,959 and $59,513, respectively. While account executive/sales managers would only make an average of $54,977 in Maryland, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics’ Location Quotient, we narrowed down our list of states to these four.

In addition, a sales manager needs to be able to develop and implement sales strategies. In most cases, she is the primary, if not only, company https://wizardsdev.com/ representative who communicates with clients. As a result, it is important for her to deliver a positive customer service experience.