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​What does an account executive do? (with skills and salary)

Account executives are intermediaries who handle the relationship between a vendor and a client. They work in different industries and perform various roles while maintaining positive relationships with clients. Understanding the answer to, 'What does an account executive do?' can help you decide if it's a suitable career path for you. In this article, we discuss what an account executive does, outline the skills they need for success, review how to become an account executive, identify how much professionals in this role make and highlight their typical work environment.

What does an account executive do?

You may be wondering, 'What does an account executive do?' The duties of an account executive intersect many roles. Here's an overview of an account executive's main duties:

Establishing new relationships

One of the main responsibilities of account executives is gaining new customers for an organisation and facilitating their onboarding. This includes creating their accounts, collecting payment information, negotiating long-term contracts and informing company executives about high-value clients. Depending on the organisation, account executives may be responsible for researching potential customers and contacting them. These professionals also provide potential customers with relevant information regarding the company and its products.

Account executives also play a marketing role, as they're responsible for pitching products to customers. They may propose new products to potential customers or recommend better offers to existing ones. As a result, account executives require extensive knowledge of the goods and services they're selling. Beyond encouraging customers to buy products, account executives also educate them on their usage. The account executive can also receive feedback from customers about their experience and communicate it to the relevant departments, making them a vital part of product development.

Maintaining customer relationships

Besides establishing new relationships, account executives are also responsible for maintaining existing ones. Usually, they have a specific number of accounts as their responsibility. They aim to provide excellent customer service and help ensure client satisfaction by being available to respond to client requests or complaints. Account executives also help clients facilitate their purchases and help create a better user experience. These professionals also communicate with clients frequently and may send them updates about special deals.

Related: 7 strategies for relationship building with customers

Providing reports

Account executives provide updates on the condition of each account they manage. This includes transaction history and growth rate. As a result, account executives often work closely with company executives and provide detailed presentations. They may also participate in business strategy meetings to suggest how companies can gain more clients. Account executives also provide account reports to clients upon their request regarding their transaction history or a particular shipment.

Related: A guide to performance reports: definition, uses and types

Collaborating with other departments

The duties of account executives often intersect with other departments due to their proximity to clients. As a result, they often collaborate with other professionals to reach company goals. For example, when they receive direct feedback from clients regarding products and other aspects of the user experience, they can direct their enquiries to trained customer service representatives. Account executives also may collaborate with the product development department to incorporate customer feedback into product modifications or version releases. Account executives can also provide great marketing insights due to their knowledge of client needs.

Managing customer accounts

Account executives are primarily responsible for managing their clients' accounts. This includes setting the account up, updating payment information and processing transactions. As a result, these professionals contact clients frequently to update their information. They're also responsible for resolving any transaction errors on behalf of their clients and may recommend account upgrades depending on their client's needs and their employer's policies.