What Does an Account Manager Do? Understanding Their Duties and Skills

Account management plays an important part in connecting businesses with their clients and ensuring strong and lasting relationships. By understanding what clients need and providing the right solutions, account management ensures clients are happy while helping the business grow. This process is crucial for industries like sales, marketing, finance, and advertising.

An account manager serves as the main point of contact for clients, managing the day-to-day interactions and ensuring a seamless experience. They make sure clients are satisfied, solve problems when they arise, and find ways to create value for both the client and the company.

In this article, we will explore the question, ‘What does an Account Manager do?’. We will look at their responsibilities, skills, qualifications, and the steps to become an account manager in South Africa.

What Is An Account Manager?

Before you find the answer to the question ‘What does an account manager do?’, you should know what an account manager is. An account manager is a professional responsible for managing and maintaining relationships between a company and its clients. Unlike salespeople, who focus on bringing in new clients, account managers support existing clients to strengthen relationships, improve satisfaction, and achieve business goals.

Their primary role is to build trust with clients, regularly communicate with them to understand their needs and work with internal teams to deliver solutions. In short, account managers aim to balance meeting the client’s expectations and helping the company achieve objectives like increasing revenue and client retention.

Roles and Responsibilities of an Account Manager

The account manager’s duties are crucial for the success of any organisation. They focus on client satisfaction and retention, which plays a vital role in building trust and fostering long-term partnerships. As a result, while you understand ‘What does an account manager do?’, you must know that their efforts improve customer loyalty and contribute to the company’s overall profitability. 

The following are some of the account manager functions:

• Building and Maintaining Relationships: Establish and nurture long-lasting relationships with clients to enhance loyalty and satisfaction.
• Managing Client Accounts: Oversee client accounts, ensuring they are managed effectively and all necessary updates or changes are addressed promptly.
• Negotiating Contracts: Negotiate contracts and agreements with clients to maximise company profits while maintaining client satisfaction.
• Identifying Growth Opportunities: Recognise opportunities to grow business with existing clients by upselling products or services that align with their needs.
• Collaborating with Internal Teams: Work with teams in customer service, product development, and sales to ensure smooth delivery of solutions and an excellent client experience.
• Tracking Performance Metrics: To inform future strategies, monitor and analyse account metrics, such as sales results and client retention rates.

Skills and Abilities for Account Managers

Account managers require diverse skills to manage client relationships and contribute to an organisation’s success. These professionals must be proficient at balancing customer satisfaction with business objectives, handling multiple accounts, and resolving issues promptly. Hence, as you find out what an account manager does, you must know that a combination of technical expertise and interpersonal skills is essential for excelling in this role.

Here are the essential account manager skills and abilities:

• Proven experience in account management or similar roles.
• Ability to communicate and influence stakeholders at various organisational levels.
• Strong verbal and written communication skills for engaging with clients and internal teams.
• Proficiency in using CRM tools and office software, including MS Excel.
• Exceptional time management and multitasking skills to manage multiple accounts simultaneously.
• Excellent negotiation skills to finalise agreements and maximise profits.
• Analytical skills to interpret client data and identify opportunities or challenges.
• Ability to handle client complaints calmly and provide effective resolutions.
• Up-to-date knowledge of industry trends and consumer behaviours.
• Teamwork and collaboration skills to liaise with internal teams and ensure seamless service delivery.

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Qualifications for Account Managers

To become a successful account manager, having the right education and qualifications is important. While a bachelor’s degree is the starting point, further studies and certifications can help improve your skills and boost your career. So, while you know what an account manager does, you must understand the qualifications that can help you succeed in this role:

1. Bachelor’s Degree

A bachelor’s degree in business, marketing, communications, or a related field is the starting point. This degree provides knowledge of business principles and customer relationship management, with courses in sales, customer behaviour, and negotiation being particularly helpful.

2. Master’s Degree

For more advanced roles, a Master’s in Business Administration (MBA) or a Postgraduate Diploma in Business Management (PDBM) from Regenesys Business School can provide deeper knowledge in management, leadership, and business strategy.

3. Certifications

Pursuing certifications can help strengthen your profile and demonstrate your expertise. Some of the relevant certifications include Certified Business Accountant (CBA) and Certified Strategic Account Manager (CSAM).

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Titles and Career Progression in Account Management

A career in account management offers numerous opportunities for growth and advancement. As you gain experience and skills, you can move through various levels of responsibility, from entry-level roles to senior management positions. So, as you now know what an account manager does, let us take a look at the typical career progression for an account manager, highlighting top roles at each stage:

• Account Coordinator: Entry-level role focusing on administrative tasks like client communication, tracking budgets, and preparing reports.
• Account Executive: Supports account managers by developing action plans, setting goals, and assisting in client acquisition.
• Junior Account Manager: Takes on more responsibility, managing client relationships, creating action plans, and evaluating sales leads.
• Account Manager: Oversees client accounts, develops project briefs, and ensures execution while managing teams and conducting market research.
• Senior Account Manager: Handles more complex client accounts, including new client acquisition and strategic development.
• Account Director: Leads account management teams, mentors junior staff, and develops strategies to improve client relationships.
• Client Director: Manages multiple client relationships at a senior level, ensuring goals are met and strategies are implemented in an effective way.

Characteristics of a Successful Account Manager

An account manager excels in balancing various responsibilities and managing relationships with multiple stakeholders. They are important to driving client satisfaction, ensuring smooth internal operations, and achieving business objectives. So, when you understand what an account manager does, you must also know the attributes that make an accountant manager successful. Here are the core characteristics that define a highly effective account manager:

• Possesses strong leadership skills and earns respect from both clients and internal teams.
• Communicates clearly and consistently with all stakeholders, ensuring everyone is informed and aligned.
• Approaches each client and project with a customised solution, avoiding one-size-fits-all strategies.
• Builds and maintains genuine relationships with clients and colleagues, fostering trust and collaboration.
• Demonstrates a results-driven mindset, focusing on delivering measurable outcomes for clients.
• Continuously seeks opportunities for learning and development to stay ahead in the field.

Also, Read about Exploring Leadership Development in Postgraduate Diploma in Business Management (PDBM) Here

How to Become an Account Manager in South Africa?

Becoming an account manager in South Africa involves a combination of formal education, practical experience, and the development of essential skills. This role requires managing client relationships, ensuring business objectives are met, and enhancing customer satisfaction. So, while you know what an account manager does, let us help you build a successful career as an account manager. 

Here are the essential steps to follow:

1. Obtain a Relevant Degree

Start by earning a bachelor’s degree in business administration, marketing, communications, or a related field. This foundation will equip you with essential business and customer relationship management knowledge.

2. Develop Essential Skills

Focus on building core skills such as communication, negotiation, problem-solving, and organisational abilities, which are essential for managing client accounts.

3. Gain Practical Experience

Begin with roles that offer direct customer interaction, like sales representative or customer service associate. These positions will help you understand the client lifecycle and improve your ability to manage accounts and address client challenges.

4. Consider a Master’s Degree

A master’s degree can be a valuable investment in your career. A Postgraduate Diploma in Business Management (PDBM) from Regenesys Business School is an excellent option. It provides advanced business management knowledge and leadership skills that can increase your ability to manage accounts and take on higher responsibilities.

5. Build a Professional Network

Attend industry events, connect with professionals on LinkedIn, and join relevant business associations. A strong network can provide career opportunities, mentorship, and insights into industry trends.

6. Stay Up-to-Date with Industry Trends

Continuously improve your skills and knowledge to stay relevant in the ever-evolving field of account management. Follow industry trends and advancements to maintain your edge in the job market.

Find Out The Account Manager Salary In South Africa 

Conclusion

Account management is an important part of any business, helping to build strong and lasting relationships with clients. However, to become an account manager in South Africa, knowing what an account manager does is important. Account managers ensure clients are satisfied, address their needs, and help the business grow. So, if you are interested in becoming an account manager, start by getting a relevant degree in business management, marketing, or communications. Gaining practical experience in customer service or sales will help you develop the skills needed for managing accounts. As a result, with the right education, skills, and experience, you can succeed as an account manager and influence your clients and your company. 

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