What is an Account Manager?
An account manager is ultimately accountable for managing a customer’s account within a business on a day-to-day basis. In collaboration with the sales team, account managers ensure that customers understand what products and services have been purchased and that they meet their needs.
Account managers may also serve as liaisons or go-betweens with other project teams and staff members who may have some connection with or impact on client accounts, depending on the nature of each client and the nature of the needs and concerns of each client.
Account Manager Role :
A person at an account manager jobs position is the intermediary between agencies and their clients. The client relationship manager oversees the relationship between the agency and the client. The person at an account manager job role determines the client’s needs – what they’re looking for in the short- and long-term – and ensures the agency delivers that.
Client account managers are responsible for developing client relationships; preparing presentations and sales pitches with sales and marketing teams; writing marketing strategies and media proposals; handling client communications, and communicating client agendas to other staff members. The role also involves monitoring budgets, expenses, and revenues and communicating with clients about cost factors. It is the responsibility of some account managers to identify potential clients and to upsell products and services.
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Account Manager Responsibilities :
As it relates to an account manager job role, you may be required to perform some of the following duties:
- A person at an account manager job position has to lead the management of customer accounts for all customers.
- Establish and maintain long-term relationships with clients.
- Maximize profits by negotiating contracts and closing agreements.
- Assist clients, customers, and executives by developing trusted advisor relationships.
- Adapt the solutions for the company’s customers’ needs and objectives in a timely and successful manner.
- Involve internal and external stakeholders by communicating progress on monthly/quarterly initiatives.
- Create new business relationships with existing customers or identify areas for improvement to meet sales targets.
- Analyze key account metrics (e.g., quarterly sales forecasts) and forecasts (annual growth).
- Prepare status reports on accounts.
- Identify and grow sales opportunities within the territory in collaboration with the sales team.
- In the event of challenging requests or escalations, assist with the process.
Account Manager Job Profile
An experienced, talented individual is required for an account manager job role. Most often, the client interacts with an account manager one-on-one. As a customer service representative, this employee handles the day-to-day, routine tasks associated with responding to the customer’s issues and concerns.
A person at an account manager job position has a variety of different responsibilities. Their focus often needs to be adjusted according to the client’s particular situation and their satisfaction with the current status of the account.
As an account manager, you would often serve in a variety of roles, including sales, customer service, tech support, and financial guidance. Providing customer support, upselling, and technical assistance, an account manager is a primary point of contact. It is possible for a manager to manage multiple smaller accounts or to focus on a few larger ones.
Account Manager Job Responsibilities :
In an account manager role you might have the following responsibilities:
- Customers can submit inquiries and requests and you can respond to them.
- Keep track of your clients’ accounts and ensure they are receiving services within their budget and that they are meeting their needs.
- Identify ways to improve business performance and discuss progress regularly with other team members.
- Providing clients and higher-ups in your organization with progress reports.
- Communication with the sales team is essential for identifying upsell, cross-sell, and renewal opportunities.
Account Manager Qualification :
You might need some of the following qualifications if you are applying for an account manager job position:
- Working experience as a Key Account Manager, Senior Account Manager, Junior Account Manager, or in an account manager job position.
- Capable of communicating, presenting, and persuading key stakeholders at all levels of an organization, including executive and C-level officers.
- Solid experience with CRM software (e.g. Salesforce, Zoho CRM, and HubSpot) and Microsoft Office (especially Microsoft Excel).
- Providing clients with client-centric solutions.
- Capable of juggling multiple accounts management projects at once while paying close attention to details.
- Ability to listen, negotiate, and present well.
- Communication skills both verbally and in writing.
- BA/BS degree in Business Administration, Sales, Marketing, or a related field.
Average Salary for Account Manager
The salary of account managers in the Philippines varies based on factors such as experience, industry, and location. Below is a detailed overview of average salaries, including city-based comparisons and factors influencing these salaries.
Average Salary Overview
| Salary Range | Average Annual Salary (PHP) | Average Monthly Salary (PHP) |
|---|---|---|
| Entry-Level (0-2 years) | 300,000 - 450,000 | 25,000 - 37,500 |
| Mid-Level (3-5 years) | 450,000 - 750,000 | 37,500 - 62,500 |
| Experienced (6-10 years) | 750,000 - 1,200,000 | 62,500 - 100,000 |
| Senior-Level (>10 years) | 1,200,000 - 1,800,000 | 100,000 - 150,000 |
City-Based Salary Comparison
Salaries can also differ significantly based on the city in which an account manager works. Below is a comparison of average salaries in major cities:
| City | Average Annual Salary (PHP) | Average Monthly Salary (PHP) |
|---|---|---|
| Metro Manila | 600,000 - 1,200,000 | 50,000 - 100,000 |
| Cebu City | 450,000 - 800,000 | 37,500 - 66,667 |
| Davao City | 400,000 - 700,000 | 33,333 - 58,333 |
| Iloilo City | 350,000 - 600,000 | 29,167 - 50,000 |
| Bacolod City | 300,000 - 550,000 | 25,000 - 45,833 |
Factors Affecting Salary of account managers
Several key factors influence the salaries of account managers in the Philippines:
- Experience: More experienced professionals typically command higher salaries due to their skills and proven track record.
- Industry: account managers in high-demand sectors such as IT and finance tend to earn more compared to those in other industries.
- Company Size: Larger companies often have bigger budgets and can offer higher salaries and better benefits.
- Location: Salaries are generally higher in urban areas like Metro Manila due to the cost of living and demand for skilled professionals.
- Educational Qualifications: Higher qualifications such as a degree in business or management can lead to better compensation.
Salary Based on Experience
The following table summarizes average salaries based on experience levels:
| Experience Level | Salary Range (PHP) |
|---|---|
| Less than 1 year | 300,000 - 400,000 |
| 1-3 years | 400,000 - 600,000 |
| 4-6 years | 600,000 - 900,000 |
| Over 6 years | Above 900,000 |
The average salary for an account manager in the Philippines ranges from approximately 300,000 PHP for entry-level positions to over 1.8 million PHP for senior roles. The average monthly salary is around 50,000 PHP in major urban areas. The role offers competitive compensation along with opportunities for growth in various industries across the country.
Key Skills for Account Manager :
When applying for an account manager job position, you may need some of the following skills:
- Multitasking and the ability to juggle multiple responsibilities simultaneously
- Communication skills, both verbal and written
- Having met or exceeded quotas and receiving positive feedback from customers
- Think strategically
- Exhibit empathy as well as emotional intelligence
- Good organizational skills and attention to detail
Why pursue a career as an account manager?
In India and abroad, account managers have plenty of job opportunities as businesses expand. There are many technology companies with account managers located all over the world who handle queries from clients and resolve problems.
It is expected that jobs in marketing, advertising, and promotions will grow by eight percent over the next few years. As an Account Manager, you will have direct contact with your company’s most important asset: Customers, which can be a great asset in a highly competitive business environment.
New products will face tough competition when they enter the market. There is a constant effort among companies to differentiate their products from those of their competitors.
To generate sales from marketing, advertising, and public relations companies, the brands will reach out to them.
In this way, marketing, advertising, and public relations firms will succeed, providing good opportunities to account managers. Most large corporations have an account manager handling daily business operations.
Account managers will continue to earn higher salaries as companies grow in the future. Pay for the account manager role will depend on your years of experience, the company’s size, and the industry in which the company operates. An account manager with effective management skills may advance to the account director level, which involves overseeing multiple account managers.
Thereafter, they become directors of account services – a high-level position overseeing the entire account management department of an organization.
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How to Become an Account Manager?
Almost all account managers have a bachelor’s degree in a related field, such as communication, business, public relations, marketing, or similar fields. The fields of business administration, sales, marketing, communications, and business management are among those that qualify.
Nonetheless, majors and minors are generally only relevant for entry-level positions coming out of college. Experience is what matters more. Even the best programs cannot teach great client management because it is an art and a skill.
Aspiring account managers begin their careers as sales representatives or customer service representatives after graduation. Their roles in these types of organizations allow them to hone the interpersonal skills necessary for successful account management.
Account managers may obtain certification through the Strategic Account Management Association once they are working as account managers.
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