Account Management
You have sales. You have customer service. And then you have the account
manager (AM), with one foot in each department. AMs act as the liaison
between a company and its clients, and it’s their responsibility to see
that those clients are maximizing the value of the products and services
provided. But there’s a large sales component to their job as well. It’s
the AMs’ duty to maintain, retain, and usually upsell to their portfolio of
clients or accounts.
You’ll find the account management function at all types of companies,
including consulting firms, service providers, and employment, advertising,
and public relations agencies. AMs with an auto-paint company, for
instance, manage the company’s relationships with clients like GM or
DaimlerChrysler, or with body shops and auto-painting shops. At a high-tech
company, AMs are the primary point of contact between the company providing
the technology and the clients using it.
What You'll Do
AMs work closely with clients to determine the clients’ needs. Then they
make sure their company develops products or services to meet those needs.
As part of their job, AMs create budgets and schedules for meeting their
accounts’ needs and enforce deadlines for product development efforts (in
manufacturing industries) or client projects (in service industries). They
also communicate clients’ agendas to their staff and management, and
communicate the concerns and capabilities of their company to the client.
Frequently, AMs also identify and solicit new customers, so sales is a part
of the job as well. “If you can’t stand sales, don’t go into account
management,” one insider says. Still, the difference between a salesperson
and an account manager is that instead of selling the account and then
handing it off to customer service, the AM maintains an active role in the
post-sale follow-up. In an advertising agency, that may mean overseeing
execution of ads. In a software company, it may mean overseeing a rollout
of a new system by spending time on-site, helping to train the client. In a
manufacturing company, it may mean ensuring that orders are delivered on
time.
Who Does Well
AMs need to be detail-oriented. Organization is a key part of the job. You
will be expected to keep on top of every aspect of a project. Good
communication skills are also necessary. AMs interact with clients on the
one hand and internal staff and management on the other.
Promises made to customers must be kept. You can't offer more than your
company can deliver. You need to know exactly what services you can provide
and how quickly a project can be completed.
You'll need to learn as much as you can about your clients. Only if you
have a strong understanding of a client's business strategy will you be
able to understand and communicate how your company's products and
services can help the client's strategic goals.
You'll also need to know all about the industries in which your clients
compete. The more industry insight you bring to the table, the better. Read
up on changing business trends and strategies. That knowledge will attract
new accounts and keep the ones you already have.
Unfortunately, not all projects go as planned. Sometimes a client won't
like the work that has been done. It's up to the account manager to fix
the problem. He or she will talk to the client, find out what's wrong,
and try to come up with a solution.
Some clients will be harder to work with than others, so AMs need to be
able to handle stress well. They also need to be creative, in order to
figure out work-around solutions when something goes wrong. At times, you
may need to hold a client's hand as you walk him through a project.
Finally, when a deadline looms, long hours may be required.
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Start by contacting your campus career center. It can put you in touch with
alumni already working in the profession. If possible, ask an alumnus or
another current AM for an interview to gather information about the career.
The AM can explain how he broke into the field, what the job entails, and
ways to meet other people in the industry. As your network of contacts
grows, you will find out about new positions as they become available.
If you’re interested in advertising account management and you’re lucky
enough to be at a school where advertising agencies recruit entry-level
hires, be sure to sign up to interview with those agencies when they come
to your campus. Internships are another way in: Proving yourself as an
intern at an advertising or PR agency is a great way to get hired. Other
types of internships can be just as valuable; journalism, marketing, and
broadcasting skills can apply to account management. This kind of work
experience enables you to build up your portfolio and resume. Companies
look for prospective employees who take the initiative and know how to work
under a deadline.
In high-tech fields, an engineering degree—or at least some experience with
and understanding of the technology provided by the company you want to
work for—can be a prerequisite for employment.
In some manufacturing industries, some account management professionals
find that getting Certified Professional Manufacturer’s Representative
credentials can help their careers.
For higher-level positions, a college degree and significant work
experience are required. Many account supervisors have sales or marketing
backgrounds. Other qualifications include strong written and oral
communication skills, management experience, a can-do attitude, and a
willingness to take initiative.
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The outlook for account managers varies by industry. If you’re interested
in working in the U.S. steel industry, for instance—or any other industry
that’s well past its peak—you won’t find many opportunities. In general,
though, things are looking up. Businesses have started spending money again
on advertising and technology, so AMs in these and other industries face a
rosier future than in recent times.
In the longer term, manufacturing account management opportunities will
likely grow at a slower rate than in other industries. But since the
advertising industry is projected to grow faster than average in coming
years, AM opportunities in advertising should grow faster than jobs
overall. And in high-tech, AM opportunities should grow at about the same
rate as the economy overall. In each of these industries, the job outlook
will vary in different sectors, depending on which are growing and which
are more mature. For instance, while advertising as a whole should offer a
slightly above-average job outlook, things are more promising for AMs who
work with interactive ad agencies or sell search engine ads, since online
marketing is soaring.
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Account management responsibilities vary depending on the industry and the
nature of the organization. Client prospecting and solicitation are
expected. You must build relationships between your organization and its
clients. Customers should feel comfortable coming to you with ideas for new
projects and changes to existing ones.
Account management positions also involve administrative duties, such as
fielding client phone calls, entering information in databases, and putting
together bulk mailings. Almost all positions require a significant amount
of customer contact.
Account Coordinator
Most new hires in advertising and PR begin as account coordinators. This
entry-level position provides administrative support to the account
management team. Typical job responsibilities include filing, putting
together mailings, sending out press releases, monitoring media coverage of
the agency’s clients, and data entry.
Although customer contact is limited, account coordinators work with all
members of their department. They cultivate skills they’ll put to good use
later. Account managers coordinate everything and everyone. They make sure
no details fall through the cracks. Eventually, account coordinators are
given additional responsibilities at client-related events. Most can expect
to be promoted after one year.
Account Executive
This is the frontline position of account management. Most customer contact
takes place through account executives (AEs), who work directly with
clients and manage their accounts.
AEs ensure that ongoing projects are running smoothly. They monitor the
progress of the creative team (at an ad agency) or product development team
(at a manufacturing or tech company), ensure deadlines are met, and answer
any questions the client may have. Most AEs are expected to pitch ideas to
new prospects.
Other responsibilities vary depending on the organization and industry. An
AE in a sales organization, for example, may call on customers, develop
PowerPoint presentations, and send out marketing materials. At an
employment agency, an AE will seek recruits, screen applicants, and post
clients’ job listings on the Internet.
Account Manager
The AM (or account supervisor) has responsibilities similar to those of the
AE. Both spend a lot of time working directly with clients to understand
their needs and communicate those ideas to their employer’s staff and
management. The AM must ensure that all levels of his or her organization
buy into a project. Otherwise, it may stall out in development or not be
completed to the client’s satisfaction.
AMs should understand marketing principles and how they apply to their
industries. This helps them plan and oversee projects effectively. An AM
needs a broad understanding of how his or her company operates and of which
departments handle which tasks. Most important, the AM controls project
implementation, managing the day-to-day operations. AMs follow a project
from inception to completion. They supervise its development and provide
status reports to clients. It’s an AM’s responsibility to inform a customer
when a project is behind schedule or over budget. Clients are referred to
AMs when they’ve any problems or questions.
At a Web-development company, for example, an account manager is involved
in the planning of a particular product or service that will be provided to
her clients. She facilitates communication between various departments in
her company, such as technology, finance, and production, and she decides
how such information is relayed from one department to another. Finally,
the AM makes sure the client is happy with the completed product. When
problems arise, the AM is responsible for rectifying them.
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Compensation varies widely in account management positions depending on
skills, company size, and the industry involved. However, the following
salary ranges are typical:
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Account representative: $26,000 to $38,000
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Senior technology account representative: $33,000 to $97,000
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Advertising account executive: $39,000 to $88,000
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Advertising senior account executive: $51,000 to $87,000