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Who is a Relationship Manager?
If a customer likes you—and continues to like —they will continue to do business with you. If they don’t, they won’t ~ Paul Greenberg
A professional who is responsible for building and sustaining strong, positive relationships with clients, customers, and partner organisations is called a relationship manager. The focal point of the role is to ensure clear and effective communication between all the stakeholders and resolve concerns that can lead to disputes. A relationship manager also recommends suitable products and services based on the client's needs. The role helps in nurturing long-term relationships, expanding customer base and driving sales growth.
Relationship Manager in a Nutshell
It is the duty of a relationship manager to nurture strong relationships with clients and help enhance customer satisfaction and business growth. Relationship managers often are the first point of contact; they understand clients’ requirements and help with customised solutions. For this role, an individual needs to have strong communication and problem-solving skills.
Quick Facts for Relationship Manager
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Suitable for
Male, Female
A career as a relationship manager is suitable for everyone regardless of gender. Whether a person is male, female or belongs to any other gender he or she can opt for a career as a relationship manager.
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Any special needs
Yes
A career as a relationship manager is suitable for candidates with several types of special needs. The career demands frequent response and communication with potential clients and superiors such as CEO and CFO. It also requires attending meetings regularly.
Table of Contents for Relationship Manager
What is the role of Relationship Manager?
A relationship manager is involved in a number of different responsibilities, such as managerial duties and involvement in business and financial functions. An individual generally reports to the CEO or the CFO and works closely with heads of sales and customer service departments. Apart from strengthening relationships, the individual also has to focus on analysing key data points to support networking. The job role requires the individual to focus on interaction with executives and clients, regular meetings and clear communication with senior management.
Planning
The Relationship Manager roles and responsibilities are to create effective plans and implement them. He or she plans and ensures the timely shipment of the product and maintains effective relationships with the clients and customers. A Relationship Manager coordinates with clients to perform financial planning and marketing teams to promote investment and portfolio management services.
Communication
A relationship manager is responsible for effectively communicating with clients and partnered companies. He or she resolves issues between employing companies and clients. The role of a Relationship Manager is to communicate with the sales team and promote high-quality sales, supply and customer service processes.
Business development
A relationship manager is an important personnel in the sales team. His or her work involves building long-term relationships with clients and customers. He or she notifies the sales team regarding new sales and cross-selling opportunities. A relationship manager is also responsible for increasing sales and ensuring good service practices.
Manage relations
A relationship manager is responsible for building the reputation of the organisation. He or she is responsible for quickly resolving customer issues to address their problems. A Relationship Manager uses various strategies including analysing customer and client data to attract new relationships and building them to help the business to increase profitability.
Types of a Relationship Manager
In this section, we have discussed some of the related career types of relationship managers.
Client Relationship Manager: A client relationship manager is someone who works directly with clients, potential clients, senior executives and sales managers. He or she works with people who are influencing the sales decisions of the business or organisation. A client relationship manager is responsible for cultivating trust and values between the client and the employing organisation.
Business Relationship Manager: A business relationship manager is responsible for effective communication between the employing business and corporations, suppliers and other beneficial business partners. He or she ensures timely shipment of products, handling track records, cost factors and other purchases that have an economic impact on the business.
Also Read: Business Development Manager
What is the workplace/work environment of Relationship Manager like?
Relationship Managers generally work in an office environment, although working hours might vary. Most of the work hours are spent in meetings and interaction with clients and all the other stakeholders, with a strong focus on building and sustaining long-term relationships that help generate and grow business opportunities.
Does Relationship Manager require travelling?
Likely
Relationship Managers are frequently required to travel at the local, regional, national, and sometimes international levels to manage their assigned territories. A significant portion of their role involves attending meetings and engaging with prospective clients. Depending on the organisation’s business requirements, they may also need to travel to other cities or countries to meet clients and strengthen professional relationships.
Work Place
Home Office, Office
Time Pressure
Likely
There is some amount of time pressure in a career as a relationship manager to regularly achieve sales targets. The role is such that it requires the individual to manage client relationships, meet revenue goals, and handle complex financial and business matters.
Weekly Hours of Work
Min 35 Hours
How to become a Relationship Manager?
Steps to become a Relationship Manager
A professional who builds and maintains a positive customer relationship to support business growth is called a relationship manager. Those who are interested in customer engagement and sales roles, this is a great career option. For those who are seeking detailed information on how to become a relationship manager in India, we have provided step-by-step guidance
What are the skills and qualities required to become a/an Relationship Manager?
Here, in this section, we will discuss the relationship manager skills that you must possess to work effectively in this career.
Interpersonal Skills: A relationship manager is responsible for effectively coordinating with the executives and communicating with the superiors on an everyday basis. The relationship manager job description includes building strong relationships with other businesses and clients.
Leadership: A relationship manager is responsible for leading the sales team. He or she must possess the ability to work well with others and manage the whole department.
Customer Service Skills: A relationship manager is responsible for Customer Relationship Management (CRM).
Mathematical Skills: A relationship manager’s work responsibilities require focusing on data for effective financial management and business growth.
Problem Solving Ability: A relationship manager must be a strategic thinker to analyse and solve problems.
Which certifications and internships can be helpful in becoming Relationship Manager?
We have mentioned below some of the related certification courses you can opt for apart from your formal education to become a Relationship Manager. However it is not mandatory but to gain additional knowledge and skills, you can opt for it.
Post Graduate Certificate Program in Advertising Management and Public Relations
Professional Certificate in Accounting and Financial Analysis
Internship Availability
To become a Relationship Manager, candidates are required to have relevant experience in retail, sales, and business. Opting for an internship program can provide you with knowledge and hands-on experience in sales, marketing, and management. Pursuing an internship is beneficial in acquiring an entry-level job in a related field, which can help you build your career as a Relationship Manager.
What is the job outlook for Relationship Manager?
There has been a significant growth in customer service and business development functions. There are several organizations that have dedicated teams to maintain strong relationships with clients and their needs. The role offers strong prospects, including progression into senior roles.
Candidates with prior experience in sales are preferred, although specific requirements might vary as per the industry. Those who have experience in as an assistant relationship manager, account executives, or in sales roles are promoted to this position.
Frequently Asked Questions for Relationship Manager
Que. Which are the required qualifications of a relationship manager?
Ans.To become a relationship manager. He or she must have a bachelor’s degree in finance, marketing and management. You can also have a master's degree in a similar field to find job opportunities easily.
Que. What is the working experience required to become a relationship manager?
Ans.Working experience as an accountant, customer service executive or sales personnel is usually considered beneficial to grab the job role of a relationship manager.
Que. What is the average salary of a relationship manager?
Ans.The salary offered to a relationship manager varies depending on his or her skills and experience. The size and location of the employing organisation also affect the salary. The average salary of a relationship manager is Rs. 389,000 per annum.
Que. What are the alternative career paths for relationship managers?
Ans.The alternative options for a career as a relationship manager are portfolio manager and account manager.
Que. Is a bachelor of commerce degree sufficient to become a relationship manager?
Ans.Yes, a bachelor of commerce degree in finance, marketing or related specialisation is sufficient to opt for a career as a relationship manager.
Que. Is relationship manager a good career?
Ans.A relationship manager position comes with its own set of unique challenges. This is a high-level managerial role that is highly compensated and can be a fulfilling career choice in the field of management.
Que. Can a fresher become relationship manager?
Ans.To qualify for a Relationship Manager position, you must have a minimum of a few years of experience in sales, marketing, or business. Therefore, as a fresher, you might not get the opportunity to work as a relationship manager but few companies hire fresher MBA graduates for this role.
Que. What does relationship manager do?
Ans.A relationship manager's roles and responsibilities include building and managing client relationships, identifying their issues, providing quick responses, and reviewing company practices to ensure customer satisfaction.
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Questions related to Relationship Manager
i have completed my graduation in B.tech frm computer science and engineering and also have one year experience in banking sector as a digital relationship manager but thrd part payroll ..so i want job in banking payroll in Private bank ...have any way
Hello Student
Being a computer engineer you will get any reputed software company for your placement. If you try for banking sector apply as per ad published in 'Employment NEWS' then you will also take after some steps of screening test and viva voice. Apply from the advertisement of banking
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Did you know?
Fact 1
The Relationship Manager role gained prominence in global banking in the 1980s.
Fact 2
HDFC and ICICI popularised this role in India in the early 2000s.
Fact 3
Demand for RMs in India grew 25% yearly post-2020 (Naukri.com).
Fact 4
LinkedIn (2023) ranked RMs among the top 15 fastest-growing global roles.
Fact 5
Over 70% of RM jobs in India are based in metro cities.
