Introduction
There are times when job roles or career paths seem to cross each other’s paths. It brings some level of curiosity as people want to discover the thin line of difference. One outstanding example is the role of an Account Manager compared to an Account Executive. Let us know ‘Account Manager Vs Account Executive’.
In the modern business globe, there is much space for both professionals- the Account Manager and Account Executive. We are aware of your curiosity, so we’ll be explaining the professions, showing you how they are similar and different at the same time.
Account Manager Vs Account Executive
An Account Executive is different from an Account Manager. An Account Executive searches for and wins new clients while the Account Manager maintains a relationship with the client to retain them. So the Account Executive works and passes the client over to the Account Manager for a long-term relationship.
Who Do I Call An Account Manager?
For every business, there is a need to maintain customer relationships. It’s a master stroke to win customers, but more accolades come in when these customers are retained. So a working relationship helps businesses keep these customers, and there is a person in charge of these customers- the Account Manager.
The Account Manager is the intermediary between the organization or business and existing customers. The catch here is that the Account Manager doesn’t win the customer, but he steps in to preserve an already won customer.
A Deeper Dive Into An Account Manager’s Role
The Account Manager works with existing customers. So he aims to keep the relationship alive and continue to meet the changing needs of the customer.
Communicate to Retain Customers
It’s fantastic that the customer is already in the bag, but the ultimate is keeping the customer around. This is only possible with established communication. So the Account Manager is the communication loop, answering questions, and getting feedback from the customer.
Introducing New Products and Services
When a customer upgrades to other products or services of a brand, then an Account Manager is behind the scenes. He introduces these products or services to existing customers.
Who Do I Call An Account Executive?
Account Executives open up the door of service for Account Managers. That is, they are involved from the beginning of sales operations. Account Executive work to generate leads and put in the effort to turn those leads into customers. So they work with prospective customers.
A Deeper Dive Into An Account Executive’s Role
An Account Executive is a forerunner to an Account Manager. They step out to win customers, so their role starts with prospecting and ends with getting the deals in the bag.
Explore for Customers
They identify the locations of their ideal customers, get hands-on contacts and present the company’s products or services to prospective customers. They make pitches, send offers, and make presentations to win customers’ hearts.
One-on-One Meeting
Although some sales calls can be done from the office, sometimes physical meetings are obligatory. So the Account Executive schedules meetings and are present for one-on-one conversation. In these meetings, there can be presentations.
Contract Negotiation
The Account Executive stands in and negotiates every term of the contract.
Update the Sales Team
The Account Manager is the man on the field. So he continually feeds the sales team with helpful information until they bag the client.
Wins Clients and Close Deals
This is the peak of the Account Executive’s duties. They ensure that they nurture prospective clients and turn them into paying clients. Once that is done, they move on to a fresh client and hand over the already-won client to the Account Manager.
How Is An Account Executive Different From An Account Manager?
Looking at their names, they sound so similar. However, we can spot their differences by looking into their roles.
First off, the phrase ‘new client’ is associated with the Account Executive, while ‘existing client’ falls to the Account Manager. So the Account Executive is focused on prospecting and winning new clients, while the Account Manager focuses on retaining and managing the existing clients.
The Account Executive makes the first sale, while the Account Manager can upsell at the appropriate time to the customers. The Account Managers do not move a lot, but the Account Executive can be termed’ the travelers.’
You can see the Account Executive as the first man, handing over clients to the second man- the Account Manager.
We have seen the difference, but we cannot deny their similarity. How are they similar? They are both parts of the sales team and the sales process. They both build customer relationships in different capacities.
What Is Needed To Become An Account Executive?
The Account Executive is a sensitive role. Without winning clients, there is no revenue, and the more clients, the more significant the revenue. So you see that these people are crucial. As a result, there is no messing around, as companies require top qualities and skills.
- To be given the job of an Account Executive, one must have at least a bachelor’s degree in marketing or related fields.
- Exquisite communication skills
- Exquisite negotiation prowess
- Sales skills and experience in sales and marketing
What Is Needed To Become An Account Manager?
The Account Manager is as important as an Account Executive. We can see them as complementary positions. The skills and requirements of an Account Manager are not too different from that of an Account Executive.
- A degree in marketing, business management, or related fields.
- Exquisite communication skills
- Problem-solving skills
- Marketing and sales experience
- Good management skills
Conclusion
Some minutes ago, this subject matter must have been tricky for you. However, at this time, it’s all clear and understandable. We have discussed the roles and differences between an Account Executive Vs Account Manager. They are both crucial parts of the marketing or sales team, and when a business utilizes this structure appropriately, there will be sales and revenue.
Frequently Asked Questions
- Who Earn A Bigger Salary Between An Account Executive And An Account Manager?
From records, an Account Executive earns a slightly higher salary than an Account Manager. The Account Executive earns a mean salary of $57,000 yearly, while the Account Manager earns $56000 per year.
- Who is Above the Account Manager?
The Account Director heads the Account Manager. So the Account Director supervises the projects and works of the Account Manager.
- Is the Account Manager A Post-Sale Position?
Yes, the Account Manager comes into the picture after deals have been closed. So he works to keep the client around and in the system with the view of future sales or deals.
- Who Closes Deals Between An Account Executive and An Account Manager?
The Account Executive closes deals while the Account Manager comes in after the deal.
