According to the U.S. Bureau of Labor Statistics, Account Management is expected to grow by 7% between 2022-2032. This means that the Account Manager will continue to be an essential role within any organization.
There are many questions surrounding the account management role in Digital Marketing, such as: What is an Account Manager? Why am I paying an Account Management Fee? What are some of the responsibilities of an Account Manager?
Any successful business or project is predicated on a variety of factors. However, sitting high on the list is the ability to form good relationships with clients. With new competition emerging in every industry yearly, there are plenty of options for businesses and consumers to choose from. In order to remain competitive, organizations have to find a way to gain their customers’ loyalty. This, however, is easier said than done. In most businesses, competition is fierce, and loyalty in many cases is almost non-existent.
This is why the marketing industry is seeing such great growth in the Account Management model. Account Management is the process of organizing and directing the activities that maintain relationships with clients or customers. It is a long-term responsibility with a long-term reward. The role of an Account Manager can be very challenging. A good Account Manager needs to possess a variety of skill sets such as: project and time management, communication, leadership, adaptability, relationship building, active listening, problem solving, organizational skills, and many more.
As an Account Manager, you often act as a liaison, representing both sides: the customer’s interest as well as the employer’s interest. Account Managers have to possess articulate skills that allow them to communicate effectively with different backgrounds and personalities. A good account manager is able to adapt to any situation and environment.
So, what are some of the daily responsibilities of an Account Manager?
- Manage Client Relationships
- An Account Manager serves as the main point of contact within an organization. They are critical in resolving client issues, easing interactions between the client and the organization, and understanding the client’s goals and pain points in order to better satisfy their wants.
- Provide Customer Service
- To achieve long-term business success, you must be an expert at providing a good customer service experience and boosting customer retention.
- An Account Manager can help achieve this by empathizing with clients, promptly responding to their needs, and maintaining an open/honest line of communication.
- Coordinate and Lead Meetings
- An Account Manager is responsible for scheduling and leading client meetings and internal team meetings to discuss, strategize, and identify roadblocks in the project. The Account Manager is responsible for developing the meeting agenda and ensuring the meetings are efficient and effective.
- Track and Report Progress of Projects
- Account Managers must possess the skill set to track and manage account or project status and report to the client. Most Account Managers must be comfortable with project management CRMs and have expertise in drafting and analyzing progress reports.
Although many industries are utilizing the Account Management model, a good Account Manager can adapt to any industry, giving the role much versatility. As a main entry point into your organization, you want new clients to interact with a confident, personable, and professional leader who not only listens and empathizes well but also provides your clients with comfort and peace of mind that they are heard, respected, and appreciated. This is what creates loyalty and increases client retention, all thanks to the growing evolution of the Account Manager.
