Learn something new every day
More Info... by email
The role of a key account manager is vital to establish and maintain a positive rapport between clients and the company. Acting as a liaison, he or she duties typically focus on connecting client needs with the company’s strategic plans and solutions. A person in this position analyzes client-related information and develops strategies to preserve the client-company relationship. Within some companies, this manager may also generate new clients.
For most companies, key account managers handle top-tier client accounts. As top-tier clients, these accounts might have a huge impact on the company’s profitability and strategic objectives. With this in mind, a person in the account manager role usually sets objectives and strategies to ensure important clients receive consistent first-class service and attention.
Duties of a person in this position may entail different aspects of managing client accounts. Successful management typically depends on the skills and abilities of key account managers to cultivate strong client relationships. Administrative duties usually consist of updating a client database with information that may affect the business relationship. Additional account management duties may also involve negotiating contract agreements between the client and company.
In some cases, an account manager's duties may involve strategic planning and thinking to anticipate client needs. Generally, the key account manager applies the company’s overall business strategy to each client account. Most help the sales team with developing strategies to increase profits. Strategic planning duties might also include an analysis of new and existing products or services related to business strategies.
To improve the company’s efficiency and effectiveness with top-tier clients, collaborative efforts with other departments within the company is often required. The manager may prioritize project development to align with strategic business goals and client needs. The manager’s collaborative efforts may include overseeing the life cycle of a product or service for client solutions.
Working with other departments, suppliers, and distribution centers typically helps key account managers in providing optimal results for client satisfaction. Once a product or service is ready, these managers are generally responsible for supervising delivery to the client. Follow-up is often necessary to ensure the product or service meets expectations.
Besides the daily management of top tier clients, some key account managers might also lead sales efforts to generate more revenue. This may require actively participating in marketing initiatives and promotions to expand the company’s client portfolio. Increasing the sales volume to existing client accounts is also often part of the sales function.
@SimpleByte - a key account manager also needs to be familiar with the company's products, services, and brand. Business development plus business retention are key qualities for this position.
In my opinion, a key account manager's job is to keep clients happy so the company retains the client. If the business of top clients is ever lost, the account manager's job may be lost as well. The key account manager is a position for which you want the best and most capable employees with proven track records for customer satisfaction.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!