It won’t be out of place to say that a lot of people have possibly heard of or come across the term account manager but an account manager’s job description seems not to be understood by many, hence the need for this article.
The account manager job description is a succinct document that explains the roles, duties, and expected skills of an account manager.
In this article, you will find all there is to know about the account manager’s profession especially for those who seek a career in the finance sector.
Table of Contents Hide
- Who Is An Account Manager?
- What Does An Account Manager Do?
- Responsibilities Of An Account Manager?
- What Skills Should An Account Manager Possess?
- How much does an account manager earn?
- Who Does An Account Manager Report To?
- Best account manager job description template 2022
- Job brief
- What does an Account Manager do?
- Frequently Asked Questions Account Man
- what do account managers do?
- hat are the duties of an Account Manager?
- What makes one a good Account Manager?
- who does an account Manager work with?
Who Is An Account Manager?
The role of an account manager can be varied based on the industry they work in, the nature of the business, and the size of the company.
An account manager is an entry to mid-level employee who is responsible for the day-to-day management of a particular customer’s account within a business. They maintain the client’s account and serve as their main point of call.
Account managers are mostly found in financial institutions and It is their duty to attend to all the account-related concerns of the client on and off work.
What Does An Account Manager Do?
An account manager is mostly the business representative who interacts one-on-one with the company client(s). This staff member oversees the daily, route tasks as regards customers’ needs and concerns as well as maintaining their account activities.
In most cases, the account manager serves a variety of roles. Some of which include: customer service representative. Technical assistant, sales representative, and financial advisor.
They switch roles depending on the customer’s situation at the moment and how satisfied that client is with their current account status.
The account manager’s job description sets him or her as the link between the company and the client. He or she provides customer support, upselling, technical assistance, and general human relationship management.
After a company has invested their money and other resources into the initial acquisition of clients, the next line of action will be to do all they can to retain these customers even as they seek new ones.
This is because no business is void of competitors so they must be at the top of their customer maintenance game lest they leave for a rival company.
Account managers are usually up to date with the products and services available to their clients so that at no point are they out of words or solutions to the customer’s concerns. Account managers usually work in financial institutions and other related businesses.
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Responsibilities Of An Account Manager?
To further explain what is expected of an account manager, below is an outline of their responsibilities:
- Serve as the first point of contact for all client account management issues.
- Grow and maintain strong, long-lasting customer relationships.
- Negotiate contracts and close deals to maximize profits.
- Develop trusted advisor relationships with key accounts, customer stakeholders and executive sponsors.Ensure the timely and seamless delivery of our solutions in line with customer needs and objectives.
- Clearly communicate the progress of monthly or quarterly initiatives to internal and external stakeholders.
- Develop new business with existing clients as well as identify areas of improvement to meet sales quotas.
- Foresee and track key account metrics (e.g. quarterly sales results and annual forecasts).
- Prepare reports on account status
- Collaborate with sales team to identify and grow opportunities within territory.
- Assist with challenging client requests while making sure no issue gets out of hand.
What Skills Should An Account Manager Possess?
A background in project management is an important skill if you want to build a successful career as an account manager as the role will require that you lead a team over some projects. With a background in P.M, you can seamlessly lead a team, engage them and bring out their passion. Your team will respect a leader who is decisive and someone they can trust to delegate fairly.
Without being told, if you are interested in working as an account manager then you must be great at communication. This is because no matter what sector you work in, healthcare, finance, or Tech, you need to work closely with your client, identify their needs and then put a plan into action.
As an account manager, your job requires that you engage with customers to drive sales growth. In order to be a good communicator, you also need to have an in-depth understanding of your account and up-to-date knowledge of the customer environment.
To thrive as an account manager, a high level of commercial acumen is essential and this goes beyond selling the product. You also need to look at the broader strategy and understand how to balance business decisions with costs.
A good account manager will keep an eye on what the competitors are doing and then decide if their client should compete in the same space or create their own path. Commercial acumen is essential to assess risks and opportunities.
A good account manager is one with sufficient analytical skills. There will always be room to enhance what you already know so data analysis skills as it won’t just aid your job but give you an edge over your counterparts in the marketplace.
To fit perfectly in this position, one must possess quality people skills. This is because their job puts them in a position that requires them to have strong networking skills and the ability to influence the clients. It’s a role where you’ll need to juggle developing and delivering business plans with ensuring that customers receive superior service.
Other Account Manager Skills Include:
- Time Management
- Relationship (trust) Building
- Organisational Skills/Multi-tasking Ability
- Understanding your Client’s Business & Needs
- Asking Good Questions
To improve your time management skills see also…… Top 20 Management Skills Every Employer Should Have In 2022
How much does an account manager earn?
Duties, qualifications, and salary of an account manager can vary, depending on the type of business and the clientele served by that firm but without being told, those with higher and specialized qualifications would likely be able to command a higher salary.
Indeed.com, says the salary range for account managers in the U.S. is between $45,000 and $85,000 per year. Most U.S. account management jobs are found in New York, Chicago, San Francisco, Atlanta, and Los Angeles.
The title “account manager” is sometimes designated for entry-level employees, although if the organization is large enough and employs enough account managers, they may have assistant and associate account managers reporting to the lead account manager.
An account manager can be promoted to Director of Accounts or Director of Account Management and to Vice President of Account Management. These roles coordinate the activities of the account managers and are part of the leadership team of a company.
Who Does An Account Manager Report To?
An account manager usually reports directly to the account director or agency director of the activity and status of accounts and transactions. Though this may vary depending on the structure and size of the firm, an account manager will always report to an accounts superior officer.
They also work hand in hand with the sales department.
Best account manager job description template 2022
A well-written account manager job description must answer vital questions pertaining to the profession. For job seekers, it is vital that you read through every job description before applying.
Below are some of the best templates on the job descriptions of an account manager.
Account Manager job description template 1
At xxxxxxxxx company, our client relationships are our top priority. We’re looking for a dedicated and personable account manager to maintain our clients’ accounts and serve as our main point of contact.
Our ideal candidate will have a passion for helping others and a drive to provide exceptional customer service. Applicants should also be comfortable working with spreadsheets, audits, and other organizational software. If this sounds like you, apply today and help us build meaningful, long-lasting relationships that move our business forward!
Objectives of this
- Act as the main point of contact in all matters relating to client concerns and needs.
- Build and strengthen client relationships to achieve long-term partnerships.
- Maintain accurate client records, keeping track of any contract updates and renewals.
- Work with sales and other internal teams to develop strategic marketing plans and ensure KPIs are being met.
- Develop a thorough understanding of our products and service offerings to better upsell and cross-sell to clients.
Daily and Weekly Responsibilities
- Stay on top of accounts, making sure they’re receiving services that are within their budget and meeting their needs
- Take inquiries and requests from customers and address their needs.
- Meet regularly with other members of the team to discuss progress and find new ways to improve business.
- Generate progress reports to give to clients and higher-ups within the organization.
- Identify upsell, cross-sell, and renewal opportunities and communicate with the sales team regularly.
Skills and Qualifications
- Internship or professional experience in a sales or customer service role.
- Ability to multitask and juggle several responsibilities simultaneously.
- Strong written and verbal communication skills.
- Good attention to detail and organizational skills.
- Proven track record of meeting or exceeding quotas and receiving positive customer feedback.
- Proficiency with common customer success and customer relationship management software, such as Gainsight and Salesforce.
- Professional certification (e.g. from the Strategic Account Management Association).
Account Manager job description template 2
We are looking for an Account Manager to create long-term, trusting relationships with our customers. The Account Manager’s role is to oversee a portfolio of assigned customers, develop new business from existing clients, and actively seek new sales opportunities.
What does an Account Manager do?
Account management responsibilities include developing strong relationships with customers, connecting with key business executives and stakeholders, and preparing sales reports.
Account Managers also answer client queries and identify new business opportunities among existing customers. In this role, you will liaise with cross-functional internal teams (including Customer Service and Product Development departments) to improve the entire customer experience. This position may require occasional travel.
If you are familiar with account management software (CRM), have a flair for client communication, and understand consumer behavior, we’d like to meet you. Ideally, candidates for this role will know how to meet ambitious individual and team-wide sales quotas.
Ultimately, a successful Account Manager should collaborate with our sales team to achieve quotas while keeping our clients satisfied and engaged with our products and services in the long run.
- Serve as the lead point of contact for all customer account management matters
- Build and maintain strong, long-lasting client relationships
- Negotiate contracts and close agreements to maximize profits
- Develop trusted advisor relationships with key accounts, customer stakeholders and executive sponsors
- Ensure the timely and successful delivery of our solutions according to customer needs and objectives
- Clearly communicate the progress of monthly/quarterly initiatives to internal and external stakeholders
- Develop new business with existing clients and/or identify areas of improvement to meet sales quotas
- Forecast and track key account metrics (e.g. quarterly sales results and annual forecasts)
- Prepare reports on account status
- Collaborate with sales team to identify and grow opportunities within territory
- Assist with challenging client requests or issue escalations as needed
- Proven work experience as an Account Manager, Key Account Manager, Sales Account Manager, Junior Account Manager or relevant role
- Demonstrable ability to communicate, present and influence key stakeholders at all levels of an organization, including executive and C-level
- Solid experience with CRM software (e.g. Salesforce, Zoho CRM or HubSpot) and MS Office (particularly MS Excel)
- Experience delivering client-focused solutions to customer needs
- Proven ability to juggle multiple account management projects at a time, while maintaining sharp attention to detail
- Excellent listening, negotiation and presentation abilities
- Strong verbal and written communication skills
- BA/BS degree in Business Administration, Sales or relevant field
Frequently Asked Questions Account Man
what do account managers do?
They interact one on one with customers to answer questions or address concerns.
hat are the duties of an Account Manager?
They handle client complaints, profer solutions to their issues, and maintain a healthy relationship between both parties for future business ventures
What makes one a good Account Manager?
A good Account Manager must be customer build trust with customers. They must possess strong communication skills and be able to manage customer accounts properly.
who does an account Manager work with?
The Account Manager juggles communication between clients and sales representatives.
An account manager’s role is as important as any other role you can think of as long as customer service and relations are concerned. The article above is a sufficient guide for or who seeks to pursue a career in account management.
The most important of all the skills is the up to date with best practices skill. You must know what is obtainable in your line of business and career per time. The goal is to win the trust and loyalty of existing clients for the growth of the company you work for.
This in turn rubs off on your paycheck and promotion when due.