What is an Account Manager? The Role And Skills Needed

What is an Account Manager (AM) and why is this role necessary? For starters, successful account management is key to long-term client retention. Especially in tech which relies heavily on the SaaS model.

An Account Manager in tech is responsible for maintaining and expanding relationships with existing clients. They work closely with Customer Success and Sales to identify new business opportunities and develop strategies for additional in-account growth.

In addition, account managers are responsible for coordinating account team activities, preparing proposals and presentations, and participating in client meetings. They also work closely with other departments within the company such as Design, Product, and Engineering to ensure that client needs are being met.

Account managers must have a strong understanding of the company's products and services, as well as the industry in which they operate. They must be able to effectively communicate with clients and build relationships of trust. This requires a high degree of organization and attention to detail when managing multiple accounts.

Many types of tech companies have account managers. Especially those that offer software-as-a-service (SaaS) solutions. The account manager keeps a real-time database of each client. They understand the products they’ve deployed and the issues they’ve encountered. They also understand the benefits a client expects. They stay up-to-date on upgrade and renewal timelines. They ensure that SaaS customers can scale and grow with confidence.

The average salary for a sales account manager is USD$52,658 to USD$61,503 and CAD$56,097 to CAD$62,514. To reach the top end of these salary goals, you should definitely start by answering the question: What is an Account Manager?

What Does an Account Manager Do?

To answer What is an Account Manager?” we need to ask what an Account Manager does. An AM ensures that each client receives the support and attention they need to make sure at an organizational level, they are getting the most out of their product or service. This includes individually-tailored products, data, and more. They work with the client to determine how they can help meet their needs. To be successful, they must understand a client's business, and manage their expectations.

Their primary goal is to strengthen and maintain each client relationship. They act as one of the primary contacts for each client post-sale. And although they are more on the sales side than the support side, there is a tendency that Account Managers are a line of communication when support needs arise.

Account Manager Key Tasks And Responsibilities

There are several key tasks that any sales Account Manager should be ready to fulfill. Let’s take a look at a few of the most common ones.

Oversee Client Communication Within Accounts

Most clients don’t want to deal with the headache of toggling back and forth between several reps after they complete a sale. Doing so requires them to repeat themselves and update new sales reps on business needs. This can disrupt workflows and lead to uncoordinated and possibly harmful growth within accounts.

Knowing this, tech companies will hire sales account managers to assume that sole communication role. They become the face of the company for that particular client. They deliver customized and personal support that builds trust, loyalty, and long-term commitments.

This simplifies and streamlines client communication. It also creates a smoother and more accurate flow of information. When one person retains the full extent of one client’s record, there is a single point of truth. And other team members can access that information as required.

Manage Client Projects

There can be a simple answer to What is an Account Manager?” if someone outside of sales asks you in passing. As the title implies, Account Managers are responsible for managing accounts. These are either fixed and short-term in nature, or they can be continuous without a set end date. At first, they’re tasked with establishing a strong relationship with each new client. They’ll be on hand to answer their questions, and explain how the software or solution works. They'll also offer ideas on how to disseminate it.

As the client begins to adopt the product into their workflow, the Account Manager’s support won’t wane. They'll continue to assess the client’s needs and goals to optimize their experience. With the help of Customer Success, they’ll assist in the development of initiatives for adoption and increased usage. This way they can increase customer satisfaction and improve retention.

Cross-Department Collaboration

In today's business world, cross-department collaboration is essential for success. As an account manager in the tech industry, you will need to be able to work closely with colleagues from a variety of departments in order to get the job done.

From the Sales and Marketing teams to Designers and Engineering, you will need to be able to communicate and collaborate effectively with each department. In order to be successful in this role, it is essential that you have strong cross-department collaboration skills. If a customer has a custom need for your solution which will require involvement from your Engineering team, you'll need to know how to track the request and make the appropriate asks to ensure the client is satisfied with the outcomes.

Support Client Solution Needs

When clients are ready to put software in place at their company, the account manager is ready to help. They'll hear what a client needs the system to do, and shape the software to meet those needs.

Along the way, they’ll also offer advice on how to build and grow their enterprise. These are opportunities for cross-selling and up-selling. This sets the foundation for a long-lasting relationship built on shared respect.

Build In Account Relationships

In a recent survey, 88% of software buyers ranked security as important when making a decision to buy. They also cited trust as top consideration as well.

While much of the security relies on the software itself, the prospect won't believe the numbers or tech if they don't have trust with the team. Clients see a knowledgeable and helpful AM as trustworthy because they are in their corner helping them succeed. A distant and over-accommodating one can have the opposite effect.

As an AM interacts with each new client, they’ll build a rapport with them and foster this trust with the organization. They know how to foster strong relationships that increase loyalty and foster trust. This can improve customer confidence and lead to long-term revenue growth in accounts.

Support the Customer Success And Support Team

Tech products tend to follow a long and complex sales cycle. At each stage, there are different stakeholders and decision-makers involved.

Account Managers can help identify what each party needs to help smooth the process. Then, they’ll provide the requisite information as requested. This might include proposals, customer evaluations, supplier selections, or competitive analyses.

Their goal is to make sure that their company is uniquely positioned as the BEST supplier or service. They can use their industry knowledge and client experience to assist the sales team. This can either aid in obtaining new clients and/or retaining existing ones.

5 Key Skills For Account Managers

AMs should have certain skills to ensure they can meet job-specific requirements. Let’s review the talents and attributes that will help them succeed.

Excellent Written and Verbal Communication

Clients may choose to communicate with account managers in many different ways. This includes email, phone, or chat support. Managers should be fluent in all forms of communication! This is especially relevant to any company-specific support tools.

The ability to clearly communicate a product’s features and benefits is critical. This role requires often requires presentations, and conducting conference calls with a variety of stakeholders present. Connecting with these important stakeholders and sharing clear and concise information is vital.

Self-Motivation and Task Management

This person will likely balance many accounts at the same time. There may not be a process in place that determines how much time they should spend on each account. Or which actions need to be accomplished.

As such, an AM will need to be self-motivated. They must ensure all clients feel seen, respected, and supported. If their company requires the use of a specific scheduling tool or platform, they should know how to use it. They should also know how to extract and analyze data from the platform. AMs like all sales reps need to make predictions of their pipeline and report on their progress.

Conflict Resolution

If a client experiences an issue with a product or service, chances are they'll reach out to their AM first. They might be exhibiting a range of emotions. Frustration and anger are common. Deep breaths: Managers should listen and stay calm. There is often a simple way to identify the most appropriate method to resolve the issue.

If they can't solve the problem on their own, an AM should know the protocols and workflows to follow. If it’s necessary to engage other departments then they know who to contact first. A good Account Manager knows that Sales and Technical Support are often only a slack away.

Strategic Thinking and Problem-Solving

An account manager in the tech industry needs to have strategic thinking and problem-solving skills in order to be successful. With the ever-changing landscape of technology, account managers need to be able to think strategically in order to keep their clients happy and their accounts active.

They also need to be able to solve problems that arise, whether it is with the technology itself or with the client's account. By having these skills, an account manager can help to keep the client's business running smoothly and efficiently. Additionally, these skills will allow the account manager to build strong relationships with clients, which is essential for any business.

Become An Account Manager

Are you interested in joining the rewarding field of Account Management? Uvaro can help!

There is so much nuance when it comes to answering What is an Account Manager?” We tried to cover the basics in this article, but there's so much more to learn! Our 4-week Account Management Course teaches everything you need to know about it. Build the foundation you need to get started.

We'll work with you to help identify your specific Account Management style. Learn how to market your talents and secure a role that helps you shine. Take part in weekly, guided independent study with a team of like-minded aspiring AMs. We've even got a study guide for you to follow with more than 6 hours of tips, resources, and cutting-edge tools.

Learn more about the course today. Download our complete Career Success Catalog. Discover our full suite of courses and workshops and start your journey with Uvaro today!