You can really take your career to the next level by becoming an account manager.
As an account manager, you will be responsible for building and maintaining relationships with key clients, developing sales strategies, and driving growth in a fast-paced environment.
From developing the right skill set to understanding the job requirements, this guide will help you gain a better understanding of the necessary steps to start your journey toward a successful career as an account manager.
Who is an Account Manager?
An Account Manager is simply an individual responsible for managing customer relationships, overseeing contracts, and driving sales growth.
They serve as the primary point of contact between the organization and the customer and act as a liaison between all relevant departments.
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What are the roles of an account manager?
Account Managers provide support to the customer by ensuring they get what they need in terms of products, services, and solutions.
Account Managers focus on building relationships with customers while also making sure that any contractual agreements are upheld.
Additionally, they provide guidance on product features, educate customers about new products, negotiate contracts and terms of sale, and ensure that customer satisfaction remains high.
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What are the steps to becoming an account manager?
1. Research the role of an account manager
Take your time to familiarize yourself with the different roles and even types of accounts and how they are managed.
For example, there are retail accounts, corporate accounts, government accounts, and international accounts.
Each account type requires different approaches and strategies to be successful.
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2. Develop the skills necessary to be an effective account manager
As you go down through this article, you see that we have highlighted some of the important skills you need to become an effective manager.
Spending your personal time and finance to build on these skills will not only give you an edge on your resume but build your confidence to take up the role.
With the education and the skills, you can move further to apply for related positions to build your work experience.
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3. Consider pursuing a degree in business or marketing
Most account managers further their careers by obtaining a master’s degree in business or marketing, this does not mean you can not have success with a bachelor’s degree.
Many industries accept prospects with a bachelor’s degree when they have some years of professional marketing experience, however, there are some top companies that only hire managers that have a Master’s.
Having an MBA in Marketing or a Master’s degree that shows your curriculum in market research, economics, statistics, accounting, marketing, and the psychology of persuasion will give you a greater chance to take higher lever positions or larger accounts.
4. Network with professionals in the field
To become an effective account manager, it is very important to consider networking with people in your niche, joining conferences, volunteering groups, etc.
What networking does for you is that it helps you to develop skills, more insight and even test ideas about the industry.
Networking with account managers will also help you have valuable references when you’re ready to apply for accounts manager roles.
5. Stay up-to-date on industry news and trends
One of the ways to become an effective account manager is to stay current with industry news and trends.
You know that information is power, and if you are someone who is resourceful, it builds your confidence and expertise, and you’ll be better placed to identify and exploit opportunities.
To become an oriented account manager, it is recommended to always scour the internet for industry magazines and reputable blogs.
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What are the important skills of an account manager?
To become a successful account manager here are some of the important skills you need to check;
You must also understand the importance of customer service and relationship management when working with customers.
It is essential to build rapport and trust with customers, as this will help in establishing a successful and long-term relationship.
2. Business Objective skills
Next, you must understand the business objectives of the company you are working for.
This includes understanding the organization’s target market and understanding how its services and products fit into the customer’s needs.
3. Organizational Competence and Analytical skills
You should also research the competitive landscape in order to have a better understanding of how to best position the organization’s products and services.
It is also essential to understand the industry trends and customer behaviors that can affect account management strategies.
Keeping up-to-date on current trends and customer preferences can help you anticipate customer needs and help you make decisions that benefit both your company and your customers.
4. Time Management Skills
Account managers spend much of their time relating to customers and developing business strategies.
It is an additional asset to have time management skills that help you create a work-life balance so it does not build up frustration.
5. Computer skills
It is recommended to be competent and proficient at using a computer in order to utilize modern technology and software programs to create business schedules, search for up-to-date information online, send and receive emails, and perform other daily tasks.
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Frequently Asked Questions (FAQs)
Is an account manager a stressful job?
Most people often wonder if choosing a career as an account manager is going to be stressful.
This is our honest opinion, a career in account management can be stressful and overwhelming because you have to manage clients, and projects, and also meet deadlines and expectations.
However, it can also be very rewarding if you keep your eye on the big picture and your long-term career goals.
How much do account managers make in Canada?
According to PayScale, the average salary for an Account Manager in Canada is C$57643, this ranges from as low as C$41,000 to as high as C$83,000.
How much do account managers make in the United States?
From the data reported by the U.S. Bureau of Labor Statistics, account managers make an average of $77,250 annually in the United States.
Is Account Manager a high position?
No, an account manager is but an entry to a mid-level position, a senior account manager is a higher position that comes with more responsibilities and of course a higher salary.
There is a good degree of overlap between an account manager and a senior position in the day-to-day roles.
While an account manager is responsible for the day-to-day management of a particular customer’s account, seniors can oversee an organization’s entire account management department.
Becoming an effective account manager can be quite profitable, it will require you to develop relevant skills and always seek improvement.