Who is an Account Executive?
Account Executive is a person who manages and oversees the business's account with a particular client.
In other words, an Account Executive is responsible for making sure that there are no problems or discrepancies in billing and payments to the company.
An Account Executive reviews any contracts or agreements with other companies related to payments, refunds, etc.
They work closely with Sales Representatives who help secure those deals.
They also make sure that all invoices are paid on time, which can be challenging given how many deadlines happen throughout the year!
Typical Qualifications of an AE
These are the qualifications required to become an Account Executive:
1) There are so many different avenues to take for the career of an account executive. The best way is through a bachelor’s or a higher degree in subjects such as business administration, communications or marketing but there are other options too.
2) It can help if you have experience at a similar level within your own firm before taking up this position!
3) An Account Executive can also be an experienced member of staff who has been working for the company for several years.
Skills Needed for an Account Executive
1) Communication skills
An Account Executive needs a great combination of analytical and communication skills.
2) Management Skills
They also need the ability to work well with people from all levels in the company, as they will be working closely with Sales Representatives on potential contracts or agreements that their organisation may have with other firms.
3) Excel Programs
An excellent knowledge of Excel formulae & knowhow on Excel should also go without saying!
4) Problem-solving skills
Most important of all, it's vital that Account Executives are able to identify and solve problems in a professional manner.
5) Decision-making skills
This is because they will often be responsible for making decisions about which company should get certain deals or agreements from their organisation. They need the necessary experience and abilities to make these tough decisions with confidence!
6) Negotiation skills
It is important to be able to negotiate with the client on price, contract terms and other aspects of working together
7) Knack for Numbers
This is because account executives may also have input into budgets as well as managing marketing campaigns. They need experience in forecasting costs and revenues too so they can come up with a strategy that maximises profit margins!
Responsibilities of an Account Executive
1) Developing new leads and business prospects
- Help in account growth.
- Account executives should be the key navigators and captains of your accounts.
- They are responsible for ensuring that all opportunities, no matter how small or large they may seem at first glance, get explored so you can achieve new heights in terms of revenue generation.
- Coordinating with other departments in order to develop solutions for prospective clients, including those outside of their department's remit.
- It also includes communicating information internally.
For example: "We have very few staff on hand today because we're expecting a rush of customers later this afternoon."
3) Maintaining Company's Sales Pipeline & Forecast
- Keeping track of everything happening around the budget and bills.
- Collecting and analyzing data.
4) Maintaining High Customer Satisfaction
- It is very important for an Account Executive to know how to keep customer satisfaction high by being friendly and approachable!
5) Keeping an Eye on Competition
-They should know what the competition is doing, and how they are competing in order to maintain their lead position with customers.
6) Feedback Management
-Gathering information about customer experience levels & feedback via surveys which then sent back into a marketing campaign designed specifically for this group of people.
Account Executive Salaries
- It is typical for an Account Executive to make around $55,000 - $65,000.
- Can also depend on the company you are working with!
Growth and Career Trajectory
Growth potential: The opportunity to work in a variety of departments and opportunities for advancement. This role typically moves up within an organization by excelling at his or her assigned tasks
More importantly, Account executives can then move up the career ladder to sales managers, sales directors, or sales vice presidents.
Hope this post was helpful!