Good business is built on good relationships. But nurturing and maintaining relationships is easier said than done, especially in business, where competition for clients is fierce and loyalty is hard-won.
So how can you compete? Enter account management.
Account managers are essential to maintaining strong client relationships and a healthy bottom line. Below we cover the roles and responsibilities of account managers and explain how they contribute to the success of their clients and business.
What is account management?
Account management is a post-sales role that focuses on nurturing client relationships. Account managers have two primary objectives: retain clients’ business and grow those opportunities. They accomplish these objectives by learning what their clients’ goals are and helping their clients achieve them.
Unlike a traditional sales role, which is short-term and focuses on landing the client, the account manager acts as a long-term liaison and, hopefully, a trusted consultant for the client.
In other words, sales is transactional and account management is relational.
By understanding their clients’ needs, the account manager can help answer their questions, solve their problems (ideally with customized product or service solutions), and develop a long-term strategic partnership with the client that extends beyond the original sale.
Among other tasks, the account manager is responsible for:
- Growing the original business partnership through upsells and cross-sells
- Managing relationships between the client and sales and customer support, and
- Retaining their long-term business through contract renewals by ensuring client satisfaction
In short, account management’s job is to delight the customer.MoreOver by Bunnah: