Account Management Skills
Account Management is a key element of marketing function in any business organization. Account Management involves the management of sales and maintaining proper relationship with customers. Another term commonly used in marketing is key account management. Key account management includes not only sales, but also planning and managing the complete relationship between a business and its most important customers. The account management is concerned with building customer relationship by acting as the interface between the customer service teams and sales teams within a company. The customer relationship with existing customers is necessary so that they continue to patronize the company for business. It also involves identification of potential new customers and new business opportunities and persuade new customers to provide business to the company.
The account management function is performed by an account manager. The account manager is an executive in a business responsible for the management of the sales and relationship with specific customers. Depending upon the size of the company, account managers might manage a single account or they may have a whole range of accounts of customers. Based upon the nature of business of the company, an accounts manager might be made responsible for an account at the national level or global level. Key account management also involves project management, strategic planning, relationship management, negotiation and innovative development of opportunities. Certain skills are necessary if an executive has to excel in the account management function. While many skills or traits are in-born, many others can be acquired during academic education. There are certain skills that can be developed only through on the job training or job oriented workshops.
The first important skill is communication. These include written as well as oral communication skills. For a top- rate account manager, the ability to communicate clearly and in a concise manner is highly essential. The ability to speak effectively and get the ideas and thoughts across is vital in an accounts manager career. Writing skills are as important as oral communication. Another important skill needed for an effective account manager is good leadership quality. A leader is one who has the ability to persuade people to do what requires to be done and leads by example. The third important skill required for a good account manager is that he should be a goal-oriented. He should have the skill to set attainable goals and knowledge of the steps that are required to be taken to accomplish the goal within the targeted time-frame. The fourth significant skill required for an account manager is persuasive skill. The ability to influence and convince others on a particular aspect of the job is an essential feature of a successful account manager. The fifth skill is the ability to build a successful team to achieve the division or organizational objectives.
An effective Account management is one of the primary factor of success. The company may possess great man power, huge capital, land and machinery. But everything has a risk of going into bankruptcy if account management skills be lacking.
Accounts Management skills are a great gift. One May be a born leader with sharp intellect great leadership and a magnetic personality can make the business rise up from rags to great heights. Some say that for the success of a business one needs great luck. But in effect it is the great capacity to manage that causes to rise up successfully. One needs great skills and able leadership in management.
To embrace the account management, today it is not enough just to be great intelligent. One needs study and know the whole business transaction and the risk management with foresight and consist prudence. One needs to be Graduate in accounting and business management. One should undergo the Management course to be self confident. If the Accounts Manager is a master of trade then he can confidently organize and execute guide and correct. So a person handling the accounts management should have the thorough knowledge in his working field. One should have the proper plan and setting up of the time table for the execution of the accounts procedure. He should be corporate and democratic in his dealings so as to get the collaboration.
He must possess the sound physical and mental health. Accounting is an intellectual activity. So he should be a balanced person and avoid being arrogant with his partners and personnel. The person handling the accounts management must have the skill to keep before him all the branches and the list of the collaborators with the proper task. He must know the psychology of the personnel and the clients. Today the success of the business lies in possessing polite manners. He must be a cultured man. The man handling the accounts management must have a commitment towards his task. He must be honest. But he must not be workaholic. He must have the sound knowledge of accounts software and computer skill. Today a person without knowing computer will be a failure. The person handling accounts management must be willing to know more and more. He must update his skill and knowledge.