A key account manager’s job is critical in establishing and maintaining a positive relationship between clients and the company. As a liaison, he or she is responsible for bridging the gap between client needs and the company’s strategic plans and solutions. This person analyzes client-related data and devises strategies to keep the client-company relationship intact. In some companies, this manager may also be in charge of bringing in new customers.
Key account managers are in charge of top-tier client accounts in most businesses. These accounts, as top-tier clients, could have a significant impact on the company’s profitability and strategic goals. With this in mind, an account manager sets goals and strategies to ensure that important clients receive consistent, first-class service and attention.
A person in this position may be responsible for various aspects of client account management. To cultivate strong client relationships, successful management typically relies on the skills and abilities of key account managers. Typical administrative responsibilities include updating a client database with information that may have an impact on the business relationship. Negotiating contract agreements between the client and the company may be one of the additional account management responsibilities.
An account manager’s responsibilities may include strategic planning and thinking to anticipate client needs in some cases. The key account manager, in general, implements the company’s overall business strategy on each client account. Most assist the sales team in developing profit-boosting strategies. Analysis of new and existing products or services related to business strategies may also be part of strategic planning responsibilities.
Collaboration with other departments within the company is frequently required to improve the company’s efficiency and effectiveness with top-tier clients. Project development may be prioritized by the manager to align with strategic business goals and client needs. Overseeing the life cycle of a product or service for client solutions may be part of the manager’s collaborative efforts.
Working with other departments, suppliers, and distribution centers can help key account managers deliver the best results for their clients. Once a product or service is complete, these managers are in charge of overseeing delivery to the customer. Follow-up is frequently required to ensure that the product or service meets the customer’s expectations.
Aside from managing top-tier clients on a daily basis, some key account managers may also lead sales efforts to increase revenue. This may necessitate actively participating in marketing initiatives and promotions in order to increase the company’s client base. The sales function frequently includes increasing the sales volume to existing client accounts.