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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 is expected to be good with his or her communication skills and also has to be a people person. It is the duty of an account manager to give the best advice for business development. For pursuing a career as an account manager, one is required to don the hat of a salesperson as well as a customer service executive. He or she not only gives ideas that generate sales but is also responsible for handling any grievances a customer might have.
An individual who is pursuing a career as an account manager needs to act as the representative of the company to his or her respective clients. In this article, we will discuss is account manager is a good option, account manager eligibility, how to become an account manager in India and account manager qualification.
Account Manager in a Nutshell
A person who is pursuing a career as an account manager directly deals with clients. He or she makes beneficial relationships with their clients and keeps a record of other beneficial contacts. Key account manager responsibilities include collecting all the necessary information about their clients such as identification documents. They assist 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 manage 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?
Are you wondering how to become an account manager in India? then we discussed everything related to how to become an account manager in India read the complete article. 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.
Account manager designs strategies and media proposals for effective marketing. 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 makes reports focused on client's agendas. A career as an account manager is required to monitor the budgets, investments, and revenue generated from investments. He or she explains cost factors to clients.
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Communication
A career as an account manager has communication which is also important in many other careers from different industries such as data analysis, and food inspector. The job requires the person to interact with multiple teams throughout the day. Explaining the multitude of teams the goals wants, and the expectation of the company requires the person to have exceptional communication skills. Be it written or oral, a person who is an account manager should successfully communicate what the client desires.
Establishing relationship
The role of an account manager is to create and maintain professional relationships. A career as an account manager is required to interact with several teams in order to make sure that the client's goals and expectations are met. This can only happen when there is a good understanding between the teams. The building of trust and relationships with various client teams is a major responsibility.
Collaboration
Getting two teams to work together can be a nightmare, imagine trying to collaborate between multiple teams, but this is exactly what is expected from an account manager. He or she should know how to make different teams work together in order to achieve business goals. Bringing the sales, marketing, finance, manufacturing and the general management team on the same wavelength is one of the primary responsibilities of an account manager.
Collection
In order to get the best possible results collection of data is extremely important. Key account manager responsibilities are to collect the data from various teams and analyse it in order to make a growth proposal. In a majority of cases, this data is related to consumer behaviour patterns, which forms the basis for all the other research. Hence, it is important for an account manager to collect accurate data from all the resources in order to make a business decision.
Maintain records
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. These records are quite essential when it comes to finding solutions. In case there is a hurdle, an account manager can always check these records to find a solution or the root cause of the problem. Depending on the industry type, some records are maintained accordingly. An account manager is required to maintain accurate records related to client's information.
Update information
There is a lot of information that keeps on adding on a daily basis. Some of it is irrelevant while sometimes it is quite essential. Hence it is important that an account manager updates information on a regular basis so that business strategies or company goals are aligned or set according to the latest information. Using old information to create strategies and define goals can spell a disaster. Hence, it is important for the account manager to update information.
Counter complaints
It often occurs that the client is not happy with the finished product or a particular service. It is important for an account manager to resolve these issues for the client. Acting on these complaints, it is the responsibility of the account manager to coordinate with all the teams involved to try and come up with a solution in order to resolve the issue in the fastest time possible.
Identify trends
The role of an account manager is to work towards achieving the client's business goals and expectations. One way to do this is by keeping oneself informed and identifying the current trends that are taking place in the industry. Identifying these trends helps the person to develop or change the business strategy for the desired outcome, that will benefit the client.
Types of a Account Manager
In this section, we have mentioned the account manager career options or types of an account manger.
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, sets 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. They look 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: An operations manager is a crucial role. The duties of the Operations manager are similar to high-level HR duties. They are 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 pr account manager's job description is to grow brands and helps 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.
Key account manager: The key account manager's job description is to manage a company's most important client accounts. Key account manager responsibilities include representing a significant percentage of company profits and the key account manager needs to develop and maintain a good customer relationship. They should be the main point of connection with all main customer concerns, predict consumer needs, work inside the business to ensure client expectations are met, and help the consumer succeed. Often the main account manager can introduce new business from current customers or partners and establish new partnerships with potential customers.
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.
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What is the workplace/work environment of Account Manager like?
The account manager's job includes full-time work in the office. The account manager's work responsibilities include developing strong working relationships with customers and business executives. They monitor sales and write sales reports. Account managers have to be confident about the services and products of the company. Their responsibility includes answering the queries of the clients and generating business.
In some organisations, they are also responsible for finding new clients. The account manager 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. Account managers resolve the issues of their clients to get positive customer feedback. They listen carefully to their clients to understand the requirements of their clients.
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.
Employment Shifts
Full Time
A Career as an account manager needs to work 8-9 hours a day or 35 hours a week. Their working hours may stretch sometimes to meet the deadlines.
Employment Nature
Permanent
A person who is pursuing a career as an account manager needs to work on permanent terms with companies. Few companies may hire account managers on contractual terms with the required duration.
Work Place
Office
Account Managers work in an office environment. They work 8-9 hours a day and 45 hours a week. Their work hours sometimes may stretch to meet the deadlines.
Presence in Geographical Area
Semi-urban, Urban
Bengaluru is considered as a corporate hub. The city is also popular for providing employment opportunities to techies. The account manager may find here various jobs with lucrative salary packages. Delhi and Mumbai also bring many opportunities for this profession. Most of the metro cities are a hotbed for those who are interested in working as account managers.
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.
Overtime Details
Typically, a career as account managers need to work for nine hours per day. But depending on the deadlines and current situation, they might be required to work overtime. During busy periods and urgency, they are required to put up some extra hours to the work.
Weekly Hours of Work
Min 45 Hours
Career account managers need to work 8-9 hours a day or 45 hours a week. In case of an event, they are required to work long hours during the weekend.
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?
The account manager job comes with a lot of responsibilities and in order to discharge or carry out those duties an account manager has to have the right sets of skills and qualities some of which we have mentioned below.
Listening: Career 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.
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 (trust) building: A career as an account manager is the face of the organisation. He 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. They have 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, so they could better understand their financial needs. Scroll down to read how to become an account manager in India.
Popular Online Finance Courses and Certifications
Which certifications and internships can be helpful in becoming Account Manager?
We have mentioned below the certifications that individuals may opt for who want to establish a career as an account manager:
| Top Certifications (Advertising and PR industry) | Top Certifications (Finance Sector) |
| Post Graduate Certificate Program in Advertising Management and Public Relations | |
| Certified Advertising Manager | Post Graduate Certificate Programme in Finance |
| Certified Public Relations Officer | Professional Certificate in Accounting and Financial Analysis |
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.
Account Managers 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.
Career Path Progression for Account Manager
Junior Account Manager: A Junior Account Manager is a professional who works under the supervision of a Senior Account Manager. A Junior Account Manager collects the information required from the customers and analyses the data and builds client relationships.
Senior Account Manager: A Senior Account Manager is an experienced professional who leads the team and trains the junior professionals in the team. A Senior Account Manager is responsible for negotiating the contract and closing the agreements to increase profits.
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 tech 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. As new products will enter the market, they will have tough competition. Each company will try to differentiate its product from the other product in the market.
People will have a variety of options in the crowd. 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.
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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 secured 48 per cent of marks in 10+2. Am I eligible for pursuing BBA?
Ans.The minimum requirement to opt for any bachelor-level course is passing 10+2 with an aggregate of 50 per cent of marks or equivalent to it. Relaxation for five per cent is provided to students of the reserved category. It depends on the institute to institute if they provide admissions on a reservation basis or give admissions on left out seats on mop-up round counselling to students scoring less than the equivalent or aggregate of 50 per cent marks in 10+2.
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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It is expected that 82% of consumer traffic will be in the form of video by 2021.
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