what is an account manager?
As an account manager, you are responsible for contacting the company's customers. You'll be the liaison between the clients and your fellow employees. A good account manager has a heart for the customer and business. Your job consists of caring for the needs and concerns of customers.
An account manager may be required to wear several hats. Your job requirements vary based on the client's needs at that time. You might need to be a salesperson, offer technical support, provide financial advice, or take on the role of a customer service representative. An account manager serves as a liaison between the customer, the sales department, and other departments and teams that impact the client's account. As an account manager, you ensure that the client stays satisfied and happy. At the same time, you also try to make sure that your employer gets a sizable return on the money they invested in acquiring the client.
A good account manager is not focused on selling a product or service. Their focus is on helping customers solve problems or achieve their goals. They must be able to communicate with staff, management, and customers. Account managers prioritize relationships over sales. They forgo short-term wins to foster long-term relationships.
Would working as an account manager suit your people skills? Then read on to find out what competencies and qualifications you need to thrive in an account manager role.
view jobs near youaverage account manager salary
On average, the annual salary for an account manager is around $55,500. Most managers make between $21,000 and $151,000 per year. However, there is quite a bit of variation in how much money you will make. Keep in mind that this is simply the base salary though. Many account managers also get commissions or bonuses depending on how well they manage their accounts.
factors that affect your salary
Experience influences your salary significantly. At entry-level positions, earning commissions is hard since you have few clients and minimal skills to attract many customers. With more years of experience, you have the skills to attract more clients. The company size also influences your earning potential. For instance, a large business with multiple clients can afford to pay higher salaries than small start-ups with a limited product range. Working in urban locations also improves your salary prospects due to the high demand.
Wondering what you can earn as an account manager? Find out immediately with the Randstad salary checker! You can quickly and easily see what the average salary of an account manager is.
types of account manager
There are two common types of account manager jobs you can choose from:
- national account managers: They are responsible for coordinating internal and external stakeholders and cross-functional parties. Depending on their employer, national account managers take on quasi-general manager roles.
- regional account managers: A regional account manager handles clients within a region. They focus on maintaining existing relationships with distributors and seek new sales opportunities. Regional account managers are the relay point between the company they work for and independent stores or distributors. They gather sales data, analyze trends, and provide feedback to the sales team.
working as an account manager
Account managers build relationships with their employer's clients. You'll create liaisons between clients, executives, and stakeholders and deliver solutions to the customers promptly.
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account manager job description
What does an account manager do? The main responsibilities of an account manager include:
- preparing proposals to new business leads: As an account manager, your role is to increase the number of customers in a business. You need to search for new leads and prepare proposals for pitching regularly. When a client makes the first order, you follow up to ensure they are satisfied with the service. You also inform them of additional services and products offered by the business.
- referring client concerns to the appropriate department: You constantly liaise with clients and help them during the ordering process. When they have concerns or issues with their products, you are the contact person. It is your job to relay the concerns to the appropriate department and get back to the customers with the appropriate feedback.
- analyzing consumer data: Your job involves identifying the needs of potential customers through analytical data. You research their interests and develop effective marketing strategies for each client. You'll often pitch to businesses and clients likely to order large quantities. Hence, you need to sharpen your marketing skills.
- reviewing account activities: As an account manager, your main role is to manage clients and ensure they are satisfied. That involves constantly reviewing the accounts' activities and identifying ways to boost sales or retain existing customers.
- negotiating contracts: When a client accepts your proposal, you need to negotiate the terms of engagement and contracts. You also discuss the prices, quantities, and discounts associated with the contracts.
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account manager work environment
Account managers typically work in office environments. They enjoy a clean, well-lit indoor environment. However, the work environment varies depending on the organization. Your work typically requires a lot of local and international travel since you have to meet clients to pitch new ideas and negotiate contracts. Some account managers work remotely.
The working environment for account managers is fast-paced and challenging. Generally, you will spend a lot of time interacting with clients. That includes talking with them on the phone and through video conferencing or face-to-face meetings. This aspect of the job allows you to work in different locations.
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who are your colleagues?
As an account manager, your colleagues will likely be sales administrators, project managers, customer service representatives, and telemarketing agents. You also work alongside sales managers and marketing managers to promote services to clients. This job has a lot of variety, so your colleagues could be everything from procurement specialists to loan processors. Other specialists that you work with could include sales representatives, accountants, sales consultants, and financial analysts.
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work schedule
Most account managers work 40 hours a week. The day typically starts at 8 a.m. and ends at 5 p.m. However, their schedule may be dictated by the time zones of their clients. It is common for account managers to work on weekends and late in the day to meet the demands of their clients. When handling high-profile clients, you need to be available whenever they need clarification. That means the number of clients determines your work schedule.
An account manager's schedule stays relatively constant throughout the year. However, high client demands at certain times of the year, such as during the holidays or seasonal vacations, may require you to work longer hours. During these times, some overtime is common.
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job outlook for account manager
The best way to advance in an account manager role is to gain more experience and improve your academic qualifications. You can move up the ladder to a key account manager role or account director when you have adequate skills. When you join the executive team, you could potentially become the vice president of marketing or sales. Some account managers gain experience and become consultants for various companies.
The account manager field has a projected growth rate of 7% over the next decade. This is slightly below national averages, but it still means that there will be thousands of new jobs for account managers each year. As the sales industry continues to flourish, account managers can look forward to a fairly stable future with plenty of great job opportunities.
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benefits of working for randstad as an account manager
Working through Randstad offers you a range of benefits:
- being paid weekly
- flexibility
- always a contact person you can fall back on and ask for help from
- many training opportunities
- a range of jobs in your area
Want a permanent contract? But you wonder why it would be interesting for you to work with a staffing company? A temporary job as an account manager is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers, thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad, too!
account manager skills and education
Some of the educational qualifications of an account manager include:
- high-school education: All account manager jobs require people to have at least a high-school degree or GED diploma. Without this degree, you won't be qualified for the position.
- university: To become an account manager, you'll benefit from a bachelor's degree in a business-related course. You could pursue sales or marketing studies to gain a solid educational grounding in business careers. While a postgraduate isn't strictly necessary, it improves your chances of moving up the career ladder.
- work experience: Being an account manager is a leadership role that requires prior experience in a similar position. You can start with internships in sales or customer service roles. Most jobs prefer that you work as an account executive before moving to an account manager role.
- industry knowledge: Not all jobs will require industry-specific training. However, if you're working in healthcare, chemistry, or other highly technical fields, it might be useful. Your employer may prefer that you take a few classes or spend some time working in a relevant field.
skills and competencies
The qualities of an account manager include:
- communication skills: As an account manager, you need to communicate well over the phone, via email, and across departments and teams. You should be comfortable addressing C-suite executives, managers, and sales reps. You should address clients professionally and maintain a good working relationship.
- knowledge of the field: Knowledge about the company and customer expertise is very useful. As an account manager, you nurture relationships and need in-depth knowledge of the company and its customers. It also allows you to identify opportunities for growth that match the client's needs with the company's services.
- ability to look ahead: A strategic perspective beyond short-term goals allows account managers to orchestrate long-term deals and relationships to create a mutually beneficial strategy. You need to prioritize long-term relationships over short-term rewards, which requires forward-thinking skills.
- leadership skills: Leadership is necessary for account managers because they interact with many parts of the business. You need to show confidence and command respect from clients and co-workers. You also need to inspire sales representatives to improve lead generation.
- negotiation skills: Negotiation skills help account managers sell products to customers. You should have a sense of timing, good presentation skills, and the confidence to know when to push and when to pull back.
FAQs about working as an account manager
Here you will find answers to the most frequently asked questions about account managers.
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what's the difference between account executives and account managers?
Account executives usually focus on bringing new customers into the company while managers prioritize maintaining existing relationships. Executives focus almost entirely on sales while account managers coordinate matters between clients and various departments in the business. Some companies rank these two positions equally while others see being an account manager as a higher-tier job.
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are there advancement opportunities for account managers?
If you're a successful account manager, you can get promoted to a position as a director. Options like account directors let you manage account managers throughout a specific region. Director of sales positions let you transition more to direct sales.
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is being an account manager a good job?
If you to work with others and have a variety of engaging tasks, being an account manager is a great choice. This job is exciting and interesting, and it has a high salary.
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can you earn six figures as an account manager?
The average account manager makes slightly below six figures. However, keep in mind that you have the ability to earn bonuses for successful interactions. Motivated, experienced account managers often make well above six figures.
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which industries use account managers?
You can work in any field where a business sells goods or services to customers and uses long-term sales relationships. Some popular options include technology, finance, and marketing. There are also account managers in the healthcare and manufacturing industries.
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how do I find a job as an account manager?
Applying for an account manager job is easy: create a Randstad profile and search our account manager jobs for vacancies in your area. Then simply send us your CV. If you do not have a resume, no worries. Just check out our resume builder. This state-of-the-art tool will help you to create your own resume. Need help with your application? Check out all our job-hunting tips!
