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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.
Reading (/ˈrɛdɪŋ/ (audio speaker iconlisten) RED-ing)[2] is a historic large market town in Berkshire, England, in the Thames Valley at the confluence of the rivers Thames and Kennet. It is on the Great Western Main Line railway and the M4 motorway, 40 miles (64 km) east of Swindon, 25 miles (40 km) south of Oxford, 40 miles (64 km) west of London, 15 miles (24 km) north of Basingstoke, 13 miles (21 km) southwest of Maidenhead and 15 miles (24 km) east of Newbury. Reading is a major commercial centre, especially for information technology and insurance.[3] It is also a regional retail centre, serving a large area of the Thames Valley, and home to the University of Reading. Every year it hosts the Reading Festival, one of England's biggest music festivals. Among its sports teams are Reading Football Club and Reading Hockey Club, and over 15,000 runners annually compete in the Reading Half Marathon.
Reading dates from the 8th century. It was an important trading and ecclesiastical centre in the Middle Ages, the site of Reading Abbey, one of the largest and richest monasteries of medieval England with strong royal connections, of which the 12th-century abbey gateway and significant ancient ruins remain. By 1525, Reading was the largest town in Berkshire, and tenth in England for taxable wealth. The town was seriously affected by the English Civil War, with a major siege and loss of trade, but played a pivotal role in the Glorious Revolution, whose only significant military action was fought on its streets. The 18th century saw the beginning of a major ironworks in the town and the growth of the brewing trade for which Reading was to become famous. The 19th century saw the coming of the Great Western Railway and the development of the town's brewing, baking and seed growing businesses, and the town grew rapidly as a manufacturing centre.
