March 29, 2019
In 80% of companies an account manager grows and manages existing accounts that have been won by business development managers or sales/account executives.
This is because account managers are farmers NOT hunters.
AMs grow wallet share of existing accounts by renewing, cross selling, and up-selling customers.
AMs DO carry a sales quota just like BDMs and AEs… but aren’t responsible for bringing in NEW clients.
Start up companies recruit hunters (sales/account executives, and business development managers/executives).
Established companies like the Ciscos, IBMs, and Coca Cola’s of the world will recruit account managers and sales/account execs and business development managers.
This is because larger companies need AMs to manage and grow their existing clients.
If you like customer service, can farm an account, and want to make more money than a customer service rep, yet don’t mind a sales quota… an account manager role may be right for you.
Keep in mind the comp plan will be lower for an AM compared with a sales/account executive.
More risk = More reward.
If you’re looking for your first sales job, or want your next one, there are FAR MORE BDM and AE roles advertised than AM ones.
One important thing to remember…
Recruiters will often pass on an AM resume since they’re want to hire someone who can bring in NEW business like an AE or BDM.
Having said that 20% of companies expect their account managers to bring in some net new business.
But it’s not the norm.
P.S: Whenever you’re ready… here’s how I can help you hire sales reps so your business grows.