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Who is a Account Manager?
It is not by augmenting the capital of the country, but by rendering a greater part of that capital active and productive than would otherwise be so, that the most judicious operations of banking can increase the industry of the country ~ Adam Smith
An account manager performs a dual role in business by handling relations with particular clients and manages the sales activity. He or she not only gives ideas that generate sales but is also responsible for handling any grievances a customer might have. He or she makes beneficial relationships with their clients and keeps a record of other beneficial contacts.
An individual looking for a career as an account manager needs to be good at serving clients and the sales process. Key responsibilities include collecting all the necessary information about their clients such as identification documents. He or she assists in data processing and analysis, counter complaints, and identify the trends of the industry.
Quick Facts for Account Manager
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Industry
Finance
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Average Salary in India
₹57500
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Suitable for
Male, Female, Others
The account manager's job is suitable for every gender who has an interest in finances and sales. Candidates having expertise in related subjects such as economics and accounting will explore better career opportunities. A career as an account manager is not gender-specific. Men, women, and others can choose to pursue a career as an account manager.
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Any special needs
Yes
Everyone, including those with physical disabilities, is appropriate for pursuing a career as an account manager. The job profile of account managers is well suited to everyone, even those with special needs. Candidates are required to be mentally fit for performing multiple tasks and managing time. The key account manager qualifications are the criteria considered during the selection of job professionals.
Table of Contents for Account Manager
What is the role of Account Manager?
In order to become an account manager in India, one must be aware about roles and responsibilities. Individuals pursuing a career as an account manager serves as the bridge between a financial institute and clients. He or she builds up the agency-client relationship, understands the client's needs, and makes sure the financial institute delivers it successfully.
The role of an account manager includes fostering client relationships and working with sales and marketing teams. He or she coordinates with the internal departments and makes presentations and pitches sales. He or she handles all the communications with clients and writes reports. He or she understands the client's agendas and communicates them to other internal departments and staff members.
An account manager interacts with multiple teams throughout the day and explains the multitude of teams the goals want, and the expectation of the company.
Building trust and relationships with various client teams is a major responsibility of an account manager.
He or she bridges the sales, marketing, finance, manufacturing and the general management team.
An account manager collects the data from various teams and analyses it in order to make a growth proposal.
It is expected of an account manager to maintain records of all the steps that have been taken in order to meet the client's expectations.
Keeping informed and identifying the current trends that are taking place in the industry is also an important role of an account manager.
Also check in details - Account Manager Job Description & Roles and Responsibilities
Resource Links for Online MBA
Types of a Account Manager
As we know that an account manager performs a dual role by managing the sales and client relation. Therefore there are many such job roles available for the same job requirement. Below we have discussed numerous kinds of account managers with their job description.
Sales Manager: A sales manager is a mid-level role. The sales manager's roles and responsibilities are to guide and evaluate salespeople's performance. A sales manager supervises their work efficiency and organises training for them. The sales manager's job is to build a sales plan, set quotas, and check if they are met by salespeople. The sales account manager job description includes hiring and firing people.
Business Development Manager: The business development manager's job description includes developing the business of the organisation. He or she looks for business opportunities and long-term business relationships. A business development manager's jobs are to maximise the company's revenues thus increasing profits.
Operations Manager: Operations manager is a crucial role in every business to perform its daily operations effectively. The duties of an operations manager are similar to high-level HR duties. He or she is involved in attracting talent, setting training standards and hiring procedures. The operations manager's job description includes monitoring organisational processes and working for improvements in quality, efficiency, and productivity.
Account manager PR: The account manager pr job description is to handle and promote a portfolio company to its target audiences. The account manager's job description is to grow brands and help to drive sales through a range of PR resources including news stories, press releases, case studies, product placement, and social media activities.
Marketing account director: The marketing account director's job description is to assure that campaigns are on schedule, within budget, and that the strategic brand goals are achieved. This role assists in organising, managing, and executing marketing strategies and leads marketing teams to create campaigns.
Corporate account manager: Corporate account manager's job description is to maintain, establish, and extend relationships with current corporate accounts, serving as a key point of contact. Corporate account manager's jobs are to investigate and find potential markets for corporate clients, reach out, and create value for companies. Read further to know how to become an account manager in India.
What is the workplace/work environment of Account Manager like?
The account manager's job includes full-time work in the office. In some organisations, accounts managers are also responsible for finding new clients. He or she is considered the face of the financial institute. He or she is the one who directly deals with the clients and offers the products and services as per their requirements.
Does Account Manager require travelling?
Likely
Travelling depends on the company’s requirements. Account managers are required to travel to meet clients to offer them products and services. Every company has different sets of rules and policies. In every organisation, travelling is not required as technology has evolved so much and meetings with faraway clients can happen on Skype if required.
Time Pressure
Likely
Account managers are generally required to work under a lot of time pressure. The job is filled with tight schedules, networking events, and product launches. Hence, account managers are required to manage all these things along with meeting their project deadlines. The work environment involves a lot of time pressure and stress.
How to become a Account Manager?
Steps to become a Account Manager
If you are interested in sales and marketing and want to learn how to handle client complaints, collect and analyse data, and improve the overall customer experience, then a career as an Account Manager is the best career option for you. Below, we have listed the steps for how to become an Account Manager in India.
What are the skills and qualities required to become a/an Account Manager?
While educational qualifications are required for working as an account manager, developing soft skills are also important along with hard skills. Below we have explained different types of soft skills essential to become an account manager.
Listening: Careers as account managers are required to have good listening skills to resolve the queries of their clients and understand their requirements. An account manager must have complete information before finally pulling out solutions. Listening skills are the most important to be good at sales.
Time Management: Time Management is an important aspect of a career as an account manager. He or she has to perform multiple tasks and deal with many people on an everyday basis. He or she has to take requests, and orders, and communicate future projects. Without time management, an account manager can not function effectively.
Relationship building: A career as an account manager is the face of the organisation. He or she needs to ensure that the needs of all the accounts are catered to. He or she has to take responsibility for the functions carried out by the department. It gives them peace and confidence to manage their account.
Communication Skills: A career as an account manager can not sustain in the industry without having communication skills. An account manager has to communicate daily with his or her clients. He or she has to identify the client's requirements and resolve their queries for which they must have excellent communication skills.
Organisational Skills: An account manager requires discipline to work in an organisation. An organisation functions with hundreds of employees on board. If someone lacks organisational skills, mismanagement could easily take place. An account manager has to be organised, disciplined and handle multiple tasks on an everyday basis.
Business Sense: A career account manager must understand the business of his clients to figure out the financial requirements of the business. It helps the account manager to offer products and services that suit the clients.
Adaptability: An account manager has to deal with multiple clients, each having different requirements. He or she has to adapt as per their client to offer them products and services that suit them. Every client’s behaviour may vary, few ask so many questions, while few understand the services in brief discussions. Therefore, the manager has to adapt to the client's behaviour.
Empathy: Career as account managers should show empathy in their professional behaviour. They must try to understand their client's requirements or visualise walking in their shoes, therefore they could better understand their financial needs.
Which certifications and internships can be helpful in becoming Account Manager?
Completing certification related to the role and responsibilities of an account manager equipped individuals with industry knowledge and practical skills which are essential to become an account manager. Below we have mentioned a list of courses to pursue in order to become an account manager.
Internship Availability
Individuals gather practical learning and exposure related to the functioning of the organisation during the period of internship. Companies related to marketing and advertising provide interns exposure to learning content marketing, email marketing, social media marketing and other practices. Individuals learn and implement various campaign techniques.
Interns learn planning, strategising and executing digital strategies to successfully carry out the marketing campaign and generate sales from it. In financial organisations, key account manager responsibilities vary as compared to marketing and advertising companies. The day-to-day task of an account management intern in a financial organisation involves assisting in timely producing accurate accounting records.
Account Manager Jobs and Salaries
Junior Account Manager
- Average Salary 47000
Job Description
The Junior Account Manager job description includes keeping up with the trends, changes and observing the competitor's actions and preparing analytical reports and the progress of customer relationships. A Junior Account Manager collaborates with the sales team and prepares the account status reports.
Salary Description
The average Junior Account Manager salary in India is Rs 6,50,000 per annum in 2023.
(Salary Source:PayScale)
Senior Account Manager
- Average Salary 68000
Job Description
The Senior Account Manager job description includes the client's budget and makes them aware of the costs and negotiates the new terms if required. A Senior Account Manager provides progress reports to the clients and acts as a liaison between the client and the departments of the company.
Salary Description
The average Senior Account Manager salary in India is Rs 9,67,446 per annum in 2023.
(Salary Source:PayScale)
What is the job outlook for Account Manager?
With companies expanding their businesses, there are plenty of account manager jobs not only in India but also abroad. The majority of IT companies have account managers placed all over the world sitting at their client's offices handling their queries and solving their problems. The jobs in the industry of marketing, advertising, and promotions are expected to grow eight per cent in the next few years.
The brands will reach out to advertising, marketing, and public relations companies to generate sales from their services. Hence the advertising, marketing, and public relations companies will bloom giving good opportunities to account manager’s careers. Every major company has an account manager who handles daily business operations; the account manager's salary will only grow from here as firms look to expand their businesses.
Frequently Asked Questions for Account Manager
Que. What are the other career paths related to management accounting?
Ans.Account Management aspirants can also enter other professions such as sales, business development, and operations. To enter these professions, a good academic background in commerce or marketing is required.
Que. I am from an arts background. Am I still eligible to establish a career as account manager?
Ans.Yes, you are still eligible to establish a career as an account manager. You can opt for a diploma in the specialisation of either of the subjects: marketing, public relations or advertising. A diploma or certification will help you to bag more opportunities in the industry.
Que. I have completed a bachelor of science. Now, what should I opt to establish a career in direct marketing?
Ans.You can opt for online certifications in sales. You can also opt for regular diploma programs in sales specialisation. This course brings the basic knowledge about the functioning of finance or organisations that deals with direct marketing.
Que. What qualifications do I need to be an account manager?
Ans.You need to have at least a bachelor's degree, often in business or advertising.
Que. How long does it take to become an account manager?
Ans.You will require at least five years of experience to opt for a career as an Account Manager. You can obtain that by taking internships and entry-level jobs.
Que. Is it hard to be an account manager?
Ans.An account manager job position is not much difficult if you have strong communication and interpersonal skills as this job role demands building relationships with people.
Que. How to become an account manager without experience?
Ans.Having a degree in business, marketing or public relations or related subjects is a must to work effectively and to get better opportunities. You can pursue a diploma or certification course to gain skills and knowledge.
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Fact 1
It is expected that 82% of consumer traffic will be in the form of video by 2021.
Fact 2
Social media press releases didn’t exist until the early 2000’s.
