While it may seem challenging to have all of these traits packaged into one, it is really quite simple.
For the past twelve years and more, I have worked as an account manager. I can state knowledgeably that there is a lot of work involved. I cannot tell how many times the misconception of having the ''easy, laid back job'' has been assumed. This common belief is far from realistic.
Account management takes a specific skill set to achieve profitability for the company. The individual plays as the face of the company – a gateway, if you will.
Relationship Building
Being able to form relationships quickly plays a large role in account management. Imagine for one moment that you are out cold calling on new prospective clients. When I say cold call, I mean walking into a business you have never been in and attempting to sell a product he or she may or may not have heard of. From the time you walk into this facility, you are given seconds to win the individual over to your side. This could make or break you.
Let's say you were successful in gaining this individual's attention. Now it is time to LISTEN. And I say that with extreme importance. People love to talk; they especially love to talk about themselves. When you listen and reference what is being said, you win. That individual will tell you what is needed and/or issues that are being faced. Consider yourself the problem solver.
As you have now sold this account, the continued cycle occurs. People do not buy products; they buy from people they like. Building that rapport ensures loyalty. Price is no longer an issue. I stay in contact with several of my accounts that I sold for different companies. The smallest of things like asking ''How is your newborn?'' ''Is she teething now?'' The idea is to form that friendship. This friendship will ensure increased business. This individual can help you in penetrating the business in other areas of the firm.
Account Penetration
This aspect rolls into the game once you have built that relationship with the account. Account penetration is selling multiple products that your company offers to one or more branches of the office.
This step is where profitability is increased. The client trusts you now and is allowing you to solve other issues. He or she may be introducing you to buyers of other branches in the firm. There may be multiple firms.
Do not make the mistake of assuming the size and potential of the buyer. A couple of years ago I worked for a company. I was given an account as a reassignment. When I went to visit the buyer, I was a little disappointed that only one case of product was purchased a year. At the point of arrival, I was taking her order. She trusted me enough to walk me through her facility. I noticed right away that a lot of time was being wasted on a situation and offered to help her solve it. This was my attempt in penetrating the account.
After a few months of red tape (government), she took me to a regional meeting. Once this was achieved, we went national. I can tell you from personal experience that the opportunity is there. This particular company was one account that spent $80.00 per year when I first took it over. When all was said and done, I had grown it to several thousands.
Product Trends
Some clients may be more or less advanced than others, this where the account manager needs to assess the situation. What is currently meeting their needs? How effective is it? What can be offered to better the process?
Looking back at the superstar account that was achieved above. When she walked me through her facility, I noticed right away that the way it was operating was a little outdated. With each of their clients' completion, product was being added manually. They saw hundreds of clients per day. As you can imagine this process took up time…….time is money. By offering a solution that would work automatically, I was able to open the door further.
account management is not taking orders. You are the gateway between the client and the company with all of the products and services. If you do not offer or inform the account of changes then the door opens for the competitor. Our society stems around the improvement of products and/or services. Someone is going to offer the upgrade. If the rapport is built, and I will always fall back on this, the client will let you know and give you the opportunity to improve the situation.
Organization
This could not be stressed more. The relationship between you and a client is important, but remember that you have several of these working relationships. And your goal is to build a relationship with every single one of them.
In my younger years of account management, I learned this aspect the hard way. I utilized ACT as my database management. This system was good for me. My company also offered a CRM (Customer Relationship Management) system, which I also used. I would upload it to my ACT daily. Above and beyond, I believed in the five-door rule. Meaning after visiting an existing account I would go to the neighbors, across the street, and kiddy corner. This one particular day……not really sure what I was thinking…..I followed the rule. I did not have many accounts in the area. My goal was to raise the sales there. I walked into a building and proceeded to introduce myself. Much to my embarrassment the woman that I was speaking to knew my name. Apparently, I had been in there before. I scrambled to find a way through.
Account management requires organization. There are several tools available to assist. I encourage you to use what is comfortable. Typically, a company will offer a CRM, if not Microsoft Outlook and ACT are both compatible with a Black Berry.
If it arises that you are changing companies and/or industries, those relationships still exist. To this day, I speak with my buyers. You never know when you will have the opportunity to sell to them again..….there is always a need.
