When the parties agree to work together, the account executive signs the business as a new client and develops a contract. Then the client is introduced to the account manager, who will maintain the business relationship over the long term, upgrading, modifying, and managing the provided services as the business grows and evolves. With excellent communication skills and interpersonal abilities, account executives and account managers establish and maintain the relationships at the heart of all businesses.
Want to learn more about these two positions? Keep reading to explore the similarities and differences in account executives vs. Account executives are a critical link between companies and their customers. They work in all sorts of industries, from advertising agencies and pharmaceutical manufacturers to public relations firms and radio stations. Their primary responsibility is to build relationships with new clients while helping to cultivate relationships with existing ones.
They are the primary point of contact for prospective clients, offering them guidance while simultaneously assessing their needs and making sure they can be met. They might create media pitches, reach out to social media influencers, provide product samples for editorial promos, organize promotional events, and more. In addition to earning an undergraduate degree, most professionals work in related fields to gain real-world experience in communication and negotiation before stepping into an account executive role.
Account executives and account managers have many similarities in terms of skill sets, educational backgrounds, and, at times, even daily responsibilities. However, these two positions remain distinct. Account managers are the liaison between a business and its existing clients. They may monitor budgets, explain cost factors to clients, and negotiate new terms as necessary.
Since account managers juggle many clients, they must be detail-oriented and able to multitask and manage priorities according to company and client needs. They also must have good communication skills to delegate tasks as necessary.
In the financial world, account executives are expected to follow ethical guidelines from regulatory authorities.
In the financial world, these include Financial Industry Regulatory Authority FINRA Rule , applicable to broker-dealers and investment advisors , which limits the payment of gifts and gratuities. Account executives are usually expected to bring in new business and often are given annual quotas.
They also may be assigned clients by the company. In some cases, an account executive could be assigned just one very important client, who would be given the red carpet treatment.
Other account executives have multiple clients to prioritize in terms of their importance to the firm. A single account executive might handle the advertising campaign of a food and beverage company and a fast-food chain. In various industries, account executives might handle the cybersecurity hardware and software needs of a bank, the pharmaceutical needs of a hospital group, the wealth management needs of a private client, or the prime brokerage service requirements of a hedge fund.
Compensation for the account executive is typically a base salary with a sales commission and bonuses for reaching or exceeding sales targets.
Account executives have a broad range of skills and a deep knowledge of the industry. These skills include the following:. Federal Industry Regulatory Authority. Influencing or Rewarding Employees of Others. Career Advice. Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. While sales is certainly a challenge at times, I find the challenge fulfilling and really love what I do.
Here at Bandwidth, NAE's help the company by growing revenue with net new business. In our role, it's vital that we are always analyzing customer and market needs, while also closing new business. We normally kick off the morning with a quick team sync with my awesome director, Joe. Next, I will sync up with my BDR team to ensure we touch base on the day's agenda, go over their to-do list, and cover goals for the day, etc.
After our sync, I will tackle my to-do list and ensure I am prepared for any meetings I have throughout the day creating quotes, paperwork, covering technical questions. Once the day gets going I always thank myself later for being organized as some days I bounce from meeting to meeting. Throughout the day it's a mixture of discovery calls, prospecting and outreach, and continuing to drive deals in my pipeline forward.
The hardest part of my job is the uncontrollables, but that comes along with sales in general! At Bandwidth, I am lucky to have an awesome team that helps me think outside the box and overcome obstacles. Best part of my job is getting the opportunity to work in an industry that is rapidly growing and being a part of something like that is really special.
Stay upbeat, create a connection, and be resilient! Build product awareness among potential customers and hopefully convert them to paying accounts. I moved into ad sales from there, then software sales at Intuit and have been in that space ever since. Most days are a lot of calls, either introducing Frame.
Being organized, finding enthusiasm every day, and staying calm despite pressure. I think the hardest part of sales is managing your headspace—for me, that takes constant effort.
There is always a lot to be gained and a lot to be lost, which makes everything feel energetic—allowing that to be a motivating force when you wake up keeps things exciting.
Meanwhile, I was scared of even being on the phone, and trying to maintain a cool facade zapped all of my energy. It took me a long time to realize that the more I allowed myself to be authentic, the more powerful I felt and the better I performed. Half the battle was just being willing to put my hat in the ring. National Account Executive at Bandwidth with two years of experience. An account executive on the emerging team mine follows up with all inbound leads and works to close all of the ones that are a good fit for us and qualifies then passes up leads that are over our monthly spend to the appropriate team.
We're often the first point of contact at the company so making sure to give them a good first impression and helping the prospect to understand why our company would be a good fit for them. The AE is then responsible for holding a discovery call, giving the prospect a product demo, and closing the deal.
In other industries, like media or marketing agencies, an Account Executive is responsible for bringing on new clients and servicing existing clients. Every company has different definitions of each role. Usually, an Account Manager is only responsible for growing and maintaining existing relationships with customers, while an Account Executive is also responsible for finding new customers.
Sometimes, companies use the Account Executive title to refer to a more senior level of Account Manager. Sales can be a very lucrative career, but average salaries for AEs varies depending on the industry and location. Image credit: Glassdoor. The Sales profession has changed rapidly in recent years. New sales tools and changing buyer preferences have made every industry more competitive. Now, more than ever, an AE must cultivate a wide variety of skills to be successful.
Some of the most important fundamental skills and characteristics of a good salesperson are:. Account Executives also need to be very hard working. Sales can be a competitive profession, and hard work is one sure way to stay a step ahead of the rest. Account Executives are most effective when they can work in a rhythm.
In the example above, the AE emails only early in the morning or late in the afternoon, so they can use the middle part of their day for sales meetings, preparation, and phone calls.
The day-to-day life of an Account Executive is fast-paced, competitive, and filled with interactions with other people including colleagues, customers, and prospective clients. While in line for your favorite morning fix, you send some quick responses to emails from customers and prospects, because fast communication is important to close deals.
You and your team use this time to problem-solve and agree on priorities for the day. Open your LinkedIn, respond to comments on your posts, check views on your profile, do some quick research, and send out personalized thank you notes and connection requests.
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