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The primary goal for those working in account management is to maintain or improve relationships with existing customers or vendors who help service accounts.

This can sound subjective, but it often boils down to being able to meet customers’ expectations, listen to their needs, solve their problems and communicate issues with others within the company.

Those working in these roles are usually entry or mid-level employees. Because of the importance of customer relationships in every business, employers may look for job candidates with key academic qualifications, such as a bachelor’s degree in business, finance or communication.

To maintain and enhance an existing customer relationship, the question arises: Where do those relationships originate? That’s where an account executive enters the picture.

An account executive is typically in charge of finding new contacts and customers. Once an account executive nurtures a new contact to become a new customer, the customer is introduced to an account manager. An account manager’s job is to balance customer service, sales, process management and relationship building to create a seamless customer experience.

Account executives also take a big-picture look at how each relationship — whether it’s their own or another team member’s — to ensure their teams are meeting quotas, staying within budget and meeting goals. Essentially, the executive’s role typically holds more responsibility.

This role's responsibilities can vary by industry, but there are certain duties that transcend organizations and sectors. These are:

• Client communication: Perhaps the most important aspect of customer relationship management (CRM), client communication involves acting as a liaison between the company and the customer. It also requires understanding each client’s unique needs and using that knowledge to provide personalized services or offers.
• Sales: New products or services can be marketed to clients based on their needs and purchase history. In some instances, other departments collaborate to make offers tailored specifically to a client’s individual account.
• Maintaining sales quotas: In some industries, the primary goal of account management is to ensure clients continue to order products or services at a defined level.
• Problem-solving: Whether working with customers or suppliers, account managers are ultimately responsible for addressing issues when they arise and ensuring they do not alter or derail the relationship with an account holder.
• Data collection and analysis: After collecting information on a client’s purchases, activities and interests, the data must be analyzed to find insights that can inform decisions, communication, marketing plans or customized offers.

The job duties of an account manager also include keeping up with industry trends, regulations and changes so that they can effectively understand and communicate with clients. 

Various business sectors need account management. This is good news for aspiring account managers: It means they can explore other interests in a role that combines business skills with those of other industries. Consider the following sectors, for example.

Healthcare account representatives often focus on administrative aspects. For example, professionals in this role may work with insurance providers to ensure that patients’ procedures are covered and to make corrections to billing or coding documents if needed.

Although healthcare account managers do not provide medical treatment, they must understand healthcare processes and terminology. A healthcare-related degree can help acquire knowledge to launch a career in this profession.

In manufacturing, those in account management roles might work in supplier- or client-facing positions. Working with suppliers relies heavily on communication skills to negotiate prices, manage supply chain functions and ensure the company gets the quality materials it needs from suppliers.

This type of client-facing work with customers helps ensure that manufactured products meet their needs and expectations, introduces new products, and alerts manufacturing managers to upcoming orders from clients. 

IT and software development companies employ those who act as liaisons between developers and IT service providers and their clients. In addition to the sales and relationship-building aspects of the job, tech account managers often provide project updates to clients. They then work with development teams to ensure that problems are addressed.

Working with clients in this industry plays an important role in troubleshooting customer and account issues. Account representatives may be responsible for addressing billing issues, changing account details and more.

Retail account managers work for product producers or wholesalers and help retailers sell their products online or in stores. In addition to helping retailers select products and manage inventory, they may arrange training for sales staff or provide information about the products.

They might also engage in strategic planning and analysis of a retailer's market and clientele to help with sales efforts.

Account management reps in government agencies are often more focused on budgets and negotiations. In this position, they work with contractors to ensure that contracting companies understand project requirements and deliver work or products that meet quality standards and comply with regulations.

Account managers typically benefit from a bachelor’s degree and technical skills relevant to their industry. However, some requirements are the same across all industries. These are:

• Communication skills
• Problem-solving abilities
• The ability to nurture and maintain relationships
• Analytical skills
• Industry-specific account management proficiencies

These abilities come from both experience and an academic career.