what is an account executive?
As an account executive, you support existing clients and build lasting customer relationships. While an account executive is a sales role, your duties go beyond the traditional responsibilities of selling products or services. You assist with acquiring new clients and maintaining relationships with existing customers.
The responsibilities of an account executive usually depend on the employer. In some companies, your role involves building relationships with new customers. However, in other organizations, account executives only handle existing client accounts. Your job is to manage, develop and grow customer accounts.
Account executives work in companies that rely on marketing and sales to generate revenue. Hence, most work in retail stores and advertising agencies. Aside from managing consumer goods sales, you can also work in telecommunications, information technology (IT), real estate, financial services or the hospitality industry.
As an account executive, you require good negotiation skills to handle client complaints and resolve issues. You also spend hours speaking with clients on the phone, which means writing and speaking skills are crucial for high performance. Good time management and organization skills are also useful since you work with numerous clients.
Would working as an account executive suit your negotiation and customer service skills? Then read on to find out what competencies and qualifications you need to thrive in an account executive role.
view jobsaverage account executive salary
According to Job Bank, the average salary of an account executive is $120,000 per year. That means you earn an hourly rate of $61.50. Your salary in a junior account executive position is $70,000 per year. You earn up to $183,500 per year when you progress to a senior-level position.
what factors affect your salary as an account executive?
Your earnings as an account executive vary based on various factors. In an entry-level role, you have minimal experience. Hence, you start with a lower salary. As you improve your experience, your earnings increase gradually.
The size of the company you work for also affects your earnings. When you work for a large organization, you earn a higher salary since you manage multiple client accounts and handle complex duties. Large companies also have vast resources and can afford to pay more. In a small company, you handle a small number of clients and have fewer responsibilities, so you earn a lower salary.
The location also influences your salary. Working in large cities boosts your earnings due to the high demand for account executives. Smaller cities have a lower demand for account executives, which attracts a lower salary.
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access our tooltypes of account executives
Account executive roles vary depending on the industry they work in and the products they sell. Some types include:
- advertising account executive: your job is coordinating advertising campaigns and encouraging customers to buy particular products. You manage clients by briefing them on campaign details and negotiating any modifications. You also assist clients with other marketing strategies.
- enterprise account executive: your job involves managing key accounts for your company. You meet with clients to discuss contractual terms and costs. You also identify upselling and cross-selling opportunities to increase sales.
working as an account executive
Working as an account executive prepares you for a lucrative career in sales and managerial roles. Let's explore the specific duties, responsibilities, work environments and career outlook of the role.
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what does an account executive do?
Some of the typical tasks of account executives include:
- educating and guiding prospective clients: you assist clients through the buying process to ensure you close deals. That means you answer questions and explain products' functions to speed up decision-making. You also follow up with prospective customers, enabling them to complete the buying process without hitches.
- growing client accounts: your job is to discover growth opportunities for client accounts. Instead of meeting customers' needs when they express interest, it is important to be proactive and identify upselling and cross-selling opportunities. You recognize gaps your company can fill and make suggestions to your clients.
- retaining client accounts: competitors are always looking for opportunities to poach clients, so it is important to be vigilant. You ensure the customer signs a contract before the competition strikes. If the competitor has an offer your company does not provide, ensure you have other incentives to entice the client.
- maintaining client satisfaction: as an account executive, seeking regular feedback on your performance as a vendor is essential. If your company is getting bad reviews, you find out why and provide solutions to improve customer satisfaction. You also conduct surveys on various aspects of customer accounts to find ways to strengthen client relationships.
- conducting market research: as an account executive, you keep up with market trends by monitoring competitor activities and market developments. The customer feedback you receive also helps you analyze market data and identify areas for growth.
- writing reports: as an account executive, you generate regular sales reports to track key performance indicators (KPIs). Some of the metrics you care about as an accounts executive include conversion rates, sales targets and pipeline velocity.
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work environment of an account executive
Account executives work in diverse business sectors, from corporate settings like finance and insurance to manufacturing and construction companies. You may work independently or from an office with the marketing or sales team. You spend most of the day making phone calls and answering emails. The role involves travelling to clients' offices to close deals or discuss contractual terms. Some account executives work from home or in a remote location.
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who are your colleagues?
Depending on the company or employer you work for, you are likely to work with customer service representatives, sales representatives and marketing coordinators. You also work in close proximity to sales managers, account managers and marketing managers. Other professionals you are likely to interact with include product managers, operations managers and sales executives.
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account executive work schedule
As an account executive with a full-time schedule, your workday starts at 8 am and ends at 5 pm on weekdays. Since you meet with clients during normal business hours, overtime work is rare. However, you sometimes work late to meet strict deadlines or complete large projects. Part-time opportunities are also available for account executives.
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career opportunities as an account executive
Account executives assist companies in getting new clients, generating sales and keeping customers happy. Hence, there is a huge demand for account executives in various Canadian industries. Account executives are often promoted to sales managers, sales directors or marketing managers. If you want to focus on a career in customer service, you can progress to account manager or customer service manager roles.
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advantages of finding a job as an account executive through randstad
Working with Randstad offers you a range of benefits:
- always a contact person you can fall back on and ask for help from
- many training opportunities
- a range of jobs in your area
account executive skills and education
Some of the educational requirements for becoming an account executive include:
- university degree: to work as an account executive, you require a business, marketing, communications or public relations degree. You can also start with a college diploma in a relevant subject to gain the necessary knowledge for the role.
- work experience: you require entry-level experience in sales or customer service roles to excel as an account executive. Gain experience through internships and entry-level sales jobs. If your duties include public relations, pursue an Accredited in Public Relations (APR) designation from the Canadian Public Relations Society to handle media and public relations.
competencies and characteristics of account executives
Some of the fundamental skills and characteristics of account executives include:
- empathy: as an account executive, you should put yourself in the prospect's shoes to build good relationships. Empathy helps you understand your clients better and fosters strong relationships.
- negotiation skills: negotiating sales terms with clients requires exceptional negotiation skills to help you identify objections and find solutions for customers' concerns. You also ensure your client gets what they want while still landing the best deal for your company. These skills are also useful when renegotiating or adjusting contracts with long-term clients.
- communication skills: as an account executive, what you say and communicate seals the deal. Hence, talking and writing well is paramount since you communicate with prospective clients through phone calls and emails. Communication skills help you adapt your tone and pitch to each customer.
- problem-solving skills: you should be a top-notch problem solver, as you spend most days convincing clients, and sometimes they change their minds. Problem-solving skills help you solve issues that arise after signing a contract. Thinking on your feet is valuable for keeping clients happy and satisfied.
- organization skills: as an account executive, your average workday is intense and involves diverse activities. With organizational skills, you can plan your workload and prioritize important tasks.
- customer service skills: as an account executive, you work closely with clients. You require good customer service skills to handle clients’ issues and build lasting relationships with them.
FAQs
Here, you will find the answers to the most frequently asked questions about the profession of an account executive.
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what are the duties of an account executive?
As an account executive, you manage client accounts to ensure they are satisfied with the sales. You find leads and talk to potential customers over the phone or through phone calls. You also negotiate with clients and close sales deals. Since you attend to clients’ needs, you should develop a lasting relationship with them and handle any complaints.
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is account executive a stressful job?
As an account executive, you don't meet clients in person but organize deliveries and communicate with customers constantly. While it is an exciting career, the pressure to close deals may lead to stress. However, with good sales skills, you can build resilience and maintain the stamina required to thrive in the fast-paced sales environment.
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is it hard to be an account executive?
Working as an account executive is a challenging role that involves dealing with clients. Handling complaints and issues that arise when closing sales deals is challenging, but you will likely excel in your role with the right skill set.
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what are the requirements for an account executive?
Becoming an account executive requires a bachelor's degree in marketing, business administration or communication. If you are looking to pursue a senior role, you should consider a master's degree in business-related courses. The role also requires experience in sales and customer service.
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what is the salary of an account executive in Canada?
As an account executive, you earn a salary of $120,000 per year. The earnings fluctuate gradually, depending on experience and qualifications. In an entry-level role, you start with a salary of $70,000 per year. The most experienced workers make up to $183,500 per year.
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how do I find a job as an account executive?
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