Key account management is a long-term strategic process that helps retain and develop important key accounts and achieve sales quota. A key account manager is tasked with increasing the company's revenue. They do this by satisfying key customers with services provided and identifying new opportunities. Their job is to foster and maintain solid relationships with the company's key clients. They meet client needs by interacting and working with the marketing, sales, logistics, and other related departments.
The key account manager must have a bachelor's degree in business administration or any related field with years of experience in key account management. They must possess leadership, communication, negotiation, and customer service skills. Tools used by the key account manager include CRM software and LinkedIn. $72,685 is the yearly average pay for a key account manager. However, it often ranges from $77,899 to $106,269.
There is more than meets the eye when it comes to being a key account manager/sales manager. For example, did you know that they make an average of $36.4 an hour? That's $75,712 a year!
Between 2018 and 2028, the career is expected to grow 5% and produce 20,600 job opportunities across the U.S.
There are certain skills that many key account manager/sales managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and customer-service skills.
When it comes to the most important skills required to be a key account manager/sales manager, we found that a lot of resumes listed 13.2% of key account manager/sales managers included sales goals, while 12.5% of resumes included key decision makers, and 8.6% of resumes included revenue growth. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the key account manager/sales manager job title. But what industry to start with? Most key account manager/sales managers actually find jobs in the manufacturing and retail industries.
If you're interested in becoming a key account manager/sales manager, one of the first things to consider is how much education you need. We've determined that 63.9% of key account manager/sales managers have a bachelor's degree. In terms of higher education levels, we found that 16.8% of key account manager/sales managers have master's degrees. Even though most key account manager/sales managers have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a key account manager/sales manager. When we researched the most common majors for a key account manager/sales manager, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on key account manager/sales manager resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a key account manager/sales manager. In fact, many key account manager/sales manager jobs require experience in a role such as sales representative. Meanwhile, many key account manager/sales managers also have previous career experience in roles such as account manager or district sales manager.