What does a relationship account manager do?
Relationship Account Managers help financial service organizations oversee sales and nourish their relationship with the assigned clients. They are assigned to clients depending on the service needs, product needs, industry, and geography. These professionals ensure the products or services perform to expectations by engaging with the assigned clients. They launch other groups' complementary products or services and recommend new services or products. Also, they ensure new accounts generate more sales revenue by contacting new potential clients.
Relationship account manager responsibilities
Here are examples of responsibilities from real relationship account manager resumes:
- Negotiate all pricing and promotional offerings while managing to yield and ROI goals.
- Utilize CRM system to manage, facilitate and document projects and tasks in technology planning efforts.
- Manage a national merchant retail portfolio.
- Perform cost-benefit and ROI analyses and prepare lead retrieval systems to ensure proper collection and aid management in future implementation decisions.
- Grow existing customer base by upselling and cross-selling additional products and services, negotiating service agreement renewals, and controlling inventory.
Relationship account manager skills and personality traits
We calculated that 14% of Relationship Account Managers are proficient in Account Management, CRM, and Business Development. They’re also known for soft skills such as Analytical skills, Communication skills, and Customer-service skills.
We break down the percentage of Relationship Account Managers that have these skills listed on their resume here:
- Account Management, 14%
Collaborated closely with various business units to improve account management.
- CRM, 10%
Negotiated customer specific pricing through targeted research and analysis using a SAP CRM database.
- Business Development, 9%
Boosted business development by initiating quality improvements and cost reductions.
- Client Relationships, 7%
Conducted project management of strategic accounts, provided consulting services and fostered client relationships, client renewals and new business opportunities.
- Sales Goal, 4%
Developed business plans and sales strategy to ensure attainment of company sales goals and profitability for 3M products.
- Client Issues, 4%
Facilitated resolution on escalated client issues.
Most relationship account managers use their skills in "account management," "crm," and "business development" to do their jobs. You can find more detail on essential relationship account manager responsibilities here:
Analytical skills. The most essential soft skill for a relationship account manager to carry out their responsibilities is analytical skills. This skill is important for the role because "sales managers must collect and interpret complex data to target the most promising geographic areas and demographic groups, and determine the most effective sales strategies." Additionally, a relationship account manager resume shows how their duties depend on analytical skills: "expanded customer relationships; assessed, analyzed and addressed all customer business and purchasing needs; grew annual sales volume. "
Communication skills. Another essential skill to perform relationship account manager duties is communication skills. Relationship account managers responsibilities require that "sales managers need to work with colleagues and customers, so they must be able to communicate clearly." Relationship account managers also use communication skills in their role according to a real resume snippet: "account relationship manager built relationships with existing clientele via telephone communications and documented progress through an sap platform. "
Customer-service skills. relationship account managers are also known for customer-service skills, which are critical to their duties. You can see how this skill relates to relationship account manager responsibilities, because "when helping to make a sale, sales managers must listen and respond to the customer’s needs." A relationship account manager resume example shows how customer-service skills is used in the workplace: "excel in turning around troubled customer relationships through positive communication and exceptional customer service. "
Leadership skills. For certain relationship account manager responsibilities to be completed, the job requires competence in "leadership skills." The day-to-day duties of a relationship account manager rely on this skill, as "sales managers must be able to evaluate how their sales staff performs and must develop strategies for meeting sales goals." For example, this snippet was taken directly from a resume about how this skill applies to what relationship account managers do: "managed hr and legal technology planning and delivery with line of site and leadership in all technology purchases and implementations. "
The three companies that hire the most relationship account managers are:
- Alteryx9 relationship account managers jobs
- Thermo Fisher Scientific6 relationship account managers jobs
- Zeta Global6 relationship account managers jobs
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Compare different relationship account managers
Relationship account manager vs. Manager, account executive
An account executive manager is responsible for handling client accounts and leading the account management procedures to promote the client's brand image in the market and maintain the highest satisfaction. Account executive managers work with the marketing and sales team to identify sales and promotional strategies that would increase revenues and product profits. They also review the current market trends to develop business opportunities according to client needs and public demands. An account executive manager coordinates with the clients for regular updates and informs them of business plan adjustments as needed.
There are some key differences in the responsibilities of each position. For example, relationship account manager responsibilities require skills like "crm," "client relationships," "sales goal," and "client issues." Meanwhile a typical manager, account executive has skills in areas such as "sales process," "product knowledge," "virtualization," and "post sales." This difference in skills reveals the differences in what each career does.
Managers, account executive really shine in the technology industry with an average salary of $87,422. Comparatively, relationship account managers tend to make the most money in the finance industry with an average salary of $63,843.The education levels that managers, account executive earn slightly differ from relationship account managers. In particular, managers, account executive are 2.0% less likely to graduate with a Master's Degree than a relationship account manager. Additionally, they're 0.4% more likely to earn a Doctoral Degree.Relationship account manager vs. Account development manager
An account development manager's responsibilities revolve around securing and reaching sales targets, creating business plans, developing strategies, and building positive relationships with clients. They must also reach out to clients through calls and correspondence, offer products and services, and address any issues and concerns, resolving them promptly and efficiently. There are also instances when they have to collect and process payments, perform follow-up calls, negotiate contracts, and even open and close accounts. Furthermore, as a manager, it is essential to lead and encourage the team to reach goals, all while implementing the company's policies and regulations.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that relationship account manager responsibilities requires skills like "business development," "sales goal," "client issues," and "customer service." But an account development manager might use other skills in their typical duties, such as, "product knowledge," "salesforce," "account development," and "sales territory."
On average, account development managers earn a higher salary than relationship account managers. Some industries support higher salaries in each profession. Interestingly enough, account development managers earn the most pay in the technology industry with an average salary of $93,723. Whereas relationship account managers have higher pay in the finance industry, with an average salary of $63,843.Average education levels between the two professions vary. Account development managers tend to reach similar levels of education than relationship account managers. In fact, they're 1.5% less likely to graduate with a Master's Degree and 0.4% more likely to earn a Doctoral Degree.Relationship account manager vs. Account services manager
An account services manager is in charge of overseeing account procedures and building positive relationships with clients. They typically reach out to clients by performing calls and correspondence to offer products and services, discuss product specifications, perform follow-up calls, and resolve issues promptly and professionally. They also supervise the performance of account service teams, ensuring to reach sales targets and customer satisfaction. Furthermore, as an account services manager, it is essential to lead and encourage the workforce to accomplish sales goals, all while implementing the company's policies and regulations.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from relationship account manager resumes include skills like "sales goal," "client issues," "customer relationships," and "technical support," whereas an account services manager is more likely to list skills in "digital marketing," "pre sales," "service delivery," and "project management. "
Account services managers earn the highest salary when working in the technology industry, where they receive an average salary of $80,874. Comparatively, relationship account managers have the highest earning potential in the finance industry, with an average salary of $63,843.Most account services managers achieve a similar degree level compared to relationship account managers. For example, they're 2.6% less likely to graduate with a Master's Degree, and 0.1% less likely to earn a Doctoral Degree.Relationship account manager vs. Commercial account manager
A commercial account manager's role is to offer products and services to businesses and firms, building positive relationships to establish a strong client base. Their responsibilities often revolve around performing research and market analysis to find sales opportunities, devising strategies to identify client needs, and maintaining records of all data and transactions. They may also reach out to potential clients through calls and correspondence, even arrange appointments to discuss products and negotiate sales. Furthermore, as a commercial account manager, it is essential to lead and encourage the workforce, all while adhering to the company's policies and regulations.
Even though a few skill sets overlap between relationship account managers and commercial account managers, there are some differences that are important to note. For one, a relationship account manager might have more use for skills like "sales goal," "client issues," "customer relationships," and "technical support." Meanwhile, some responsibilities of commercial account managers require skills like "product knowledge," "cam," "strong customer service," and "sales process. "
Commercial account managers enjoy the best pay in the manufacturing industry, with an average salary of $61,085. For comparison, relationship account managers earn the highest salary in the finance industry.commercial account managers reach similar levels of education compared to relationship account managers, in general. The difference is that they're 3.6% more likely to earn a Master's Degree, and 0.5% more likely to graduate with a Doctoral Degree.Types of relationship account manager
Updated January 8, 2025
