What is account management?
Account management is the practice of fostering and maintaining relationships between a company and its clients.
And account managers are professionals who execute the responsibilities and tasks that entail account management.
From building rapport with new clients to ensuring that every need of the long-term customers is met, account managers play a crucial role in helping businesses and companies grow.
Therefore, the demand for these professionals is also high. Studies have shown that job opportunities for marketing, advertising, sales, and account managers are projected to grow by 8% by 2028.
If you are looking to bag account manager jobs, you must have a good understanding of the account manager job description to increase your chances of getting hired.
Read on to learn more about the same and also get an insight into the following questions related to the account manager job description:
- What does an account manager do?
- What skills do you need to be an account manager?
- What is the insurance account manager job description for resumes?
- How much do account managers make?
Account Manager Responsibilities
Besides liaising with clients on behalf of the company, account managers also work with cross-functional teams within the organization to enhance customer experience and satisfaction.
Although the account manager job description can vary depending on the department, industry, and employer, given below is a list of general duties of an account manager:
- Building and maintaining long-term relationships with clients and turning leads into customers
- Negotiating terms and closing contracts or agreements while ensuring both clients' and company’s profitability
- Identifying customer needs and resolving clients’ queries to ensure client satisfaction
- Tracking and reporting progress on monthly or quarterly initiatives to senior executives and stakeholders
- Staying abreast with the latest trends in the industry to follow best practices and stay ahead of competitors
- Forecasting and tracking key account metrics like annual forecasts and sales results
- Managing budgets, explaining costs, and preparing reports on account statistics
Also Read: How to write a stellar account manager resume in 2022?
Account Manager Job Description Requirements
The minimum educational qualification required for account manager jobs is a degree in business administration or any related field.
Apart from this, recruiters look for candidates with at least 2-3 years of experience in a related field or a similar position.
Listed below are some other account manager job description requirements:
- Proficiency with customer relationships management (CRM) software like Salesforce, Zoho CRM, or HubSpot
- Familiarity with using MS Office and Excel spreadsheets
- Exceptional verbal and written communication and rapport-building skills
- Ability to multitask and handle multiple account management projects simultaneously
- Detail orientated with great problem-solving skills
- Thorough with the company’s product features and service offerings
- Proven track record of meeting or exceeding sales quotas
Account Manager Job Description Skills
To land great account manager jobs, you must possess and showcase the right skillset in your resume.
Analyze the accounts manager job description provided in the listing, and identify the top skills that are necessary to meet the requirements of the position.
Some of the most in-demand account management skills that recruiters look for in candidates are listed below:
| Strategic Sales | Business Planning |
| Risk Mitigation | Budgeting |
| Customer Service | Training & Screening |
| Inventory Management | Cash Management |
| Audits | Team Management |
| Marketing Strategies | Rapport Building |
| Client Relationship Management | Financial Reporting |
| ROI Management | Data Analysis |
| Sales Negotiation | HubSpot |
| Requirements Gathering | Account Planning |
| Spreadsheets | Time Management |
| Creative Thinking | Ms. Office |
Also Read: What skills should you put on your resume in 2022?
Account Manager Job Description for Resumes
Before drafting your resume, review and analyze the account manager job description to increase your chances of getting shortlisted for the job.
As stated earlier, the job descriptions provided in the listing you’re targeting can provide valuable insights into the top requirements of the recruiters.
And if you can showcase your potential to meet these requirements through your resume, rest assured, you will get a callback for an interview.
For your reference, given below is a real-time insurance account manager job description sample that you’ll come across in listings:
Job Overview
Looking for a detail-orientated and dedicated insurance account manager to join our team of professionals to support business growth and nurture long-term client relationships. The aspiring candidate must possess exceptional communication skills to efficiently liaise between cross-functional teams, internal and external stakeholders, and clients. The potential candidate must also be able to achieve and maintain customer satisfaction and earning objectives.
Key Account Manager Job Description Responsibilities
- Fostering a mutually rewarding work relationship with customers and clients to ensure case renewal and retention
- Following through on queries, complaints, and unresolved issues to the point of resolution
- Providing innovative service and product solutions to address customers’ evolving needs
- Consistently monitoring customer’s product lines and services to make sure that their requirements are being met on time
- Strategizing and executing tactical components of the team’s business processes and customized plans for individual clients
- Ensuring that the accounts team regularly meets monthly and quarterly insurance sales quotas
- Collaborating with team members to resolve complex service or product issues to meet customer needs
- Updating policy changes in clients' accounts after informing clients about the same, with adherence to NAIC regulations
- Gathering necessary documentation for reporting claims and processing them against policy terms and conditions
Account Manager Job Description Requirements
- Minimum 2 years of work experience in the industry as an account manager or similar position
- Strong written and verbal communication
- Active insurance license, as required by state law
- Associate's or Bachelor’s degree in business administration or related field
- Solid proficiency in using CRM software like HubSpot or Zoho
- Should have good computer skills and be proficient with Microsoft Office Suite (Word, Excel PowerPoint, etc.)
Also Read: What is the job description of an insurance agent?
Account Manager Job Description and Salary
The average base salary of an account manager is $59,029 in the US, excluding average commission earnings of $18,000 per annum.
However, this figure can vary widely depending on your location, experience level, industry, employer, and skills.
For instance, account managers working in New York earn more than their counterparts working in Phoneix.
Take a look at the following list of average salaries of account managers in different US cities:
| US CITIES | AVERAGE SALARIES |
|---|---|
| New York, NY | $68,482 |
| Los Angeles, CA | $64,843 |
| Chicago, IL | $64,119 |
| Atlanta, GA | $62,124 |
| Dallas, TX | $61,610 |
| Austin, TX | $61,287 |
| Charlotte, NC | $60,386 |
| Houston, TX | $60,385 |
| Phoenix, AZ | $60,283 |
Additionally, the following is a list of the highest paying companies for account manager jobs in the US:
| COMPANIES | AVERAGE SALARIES |
|---|---|
| Cisco Systems | $106,248 |
| ADT Security Services | $98,970 |
| Wells Fargo | $94,432 |
| CDW | $86,265 |
| McKesson | $85,079 |
| Ecolab | $84,908 |
| Orkin | $82,877 |
| Lumen | $81,291 |
| Arrivia | $75,935 |
| Oracle | $74,562 |
Also Read: How much does a sales manager earn in 2022?
Key Points from the Blog
- Besides liaising with clients on behalf of the company, account managers also work with cross-functional teams within the organization to enhance customer experience and satisfaction.
- Building and maintaining long-term relationships with clients, turning leads into customers, and negotiating contracts while ensuring both clients and the company’s profitability are some of the account manager job description responsibilities.
- The minimum educational qualification required for account manager jobs is a degree in business administration or any related field.
- Proficiency with CRM software and familiarity with using MS Office and Excel spreadsheets are some of the account manager job requirements.
- Marketing strategies, rapport building, client relationship management, and financial reporting are some of the in-demand account management skills.
- The average base salary of an account manager is $59,029 in the US, excluding average commission earnings of $18,000 per annum.
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