Behind every prospering business lies an account manager dedicated to nurturing relationships and boosting revenue streams. They bridge the gap between client goals and company offerings, while keeping an eye on growing revenue. If you’re a small or medium-sized business considering hiring an account manager, keep reading. We will simplify the process into six straightforward steps:
- Select priorities from these common Account Manager job duties
- Define the Job Level of Account Manager
- Decide the Pay Range for your Account Manager Position
- Publish your role where your ideal candidate will see it
- Conduct an Interview
- Create and finalize the offer
- FAQs on How to Hire an Account Manager
- The Account Manager Hiring Blueprint: Ready to Activate
Select priorities from these common Account Manager job duties
Before jumping into the specifics of hiring an Account Manager, let’s first outline what an Account Manager does. This role typically involves managing client tasks, collaborating with other teams, and ensuring the clients receive a great experience..
Job Duties of an Account Manager
The Account Manager’s key responsibilities include maintaining and nurturing client relationships.
- Customer Service: This involves providing top-notch service to current customers and implementing necessary changes to enhance satisfaction. Regular contact and visits with key customers are essential.
- Sales: Account Managers oversee daily external requirements, maintain customer relationship management systems, and maximize product/service offerings to existing customers. They also engage in cold calling to increase revenue and create networks and partnerships to identify new opportunities.
- Administration: This includes assisting in compiling sales reports, organizing daily tasks to ensure proper logging of calls, and formulating a weekly sales plan aligned with the company’s goals and targets.
Job Requirements of an Account Manager
An ideal Account Manager should possess the following qualifications and skills:
- Bachelor’s degree in sales and communications. Or over 3 years of experience in a customer facing role.
- Clear and effective communication skills
- Ability to analyze and manage data sets
- Problem-solving prowess with a knack for adaptability
- Keen active listening skills
- Talent for building and nurturing relationships, both within and outside the company
- Awareness of customer trends and industry shifts.
Define the Job Level of Account Manager
The role of an Account Manager varies based on their experience level – from Entry Level to Senior Account Manager. Each level comes with its own set of responsibilities, decision-making power, and salary range. Let’s delve into the specifics of each level.
|Entry Level Account Manager||Junior Account Manager||Senior Account Manager|
|Experience (as cited in Zippia)||0-2 years||3-5 years||6+ years|
|Low End Salary||$45,000 as cited in Zippia||$52,572 according to Indeed||$92,974 per data from Indeed|
|Long-term vision||Learning and growth||Expanding skills, possible leadership roles||Leadership, strategic planning, and significant client management|
Decide the Pay Range for your Account Manager Position
Setting the right salary for your Account Manager position is a balancing act. You aim for a number that entices top-notch professionals while ensuring it aligns with yours budget and mirrors the industry’s norms.
Zippia benchmarks Account Manager’s just starting out on a salary bracket ranging from $44,000 to $110,000, with the midpoint pegged at approximately $68,535.
Shifting focus to Junior Account Managers, Indeed places their average earnings at $52,572. They might see offers as low as $32,051 or as lucrative as $79,796.
When it comes to the seasoned veterans – the Senior Account Managers – their expertise tends to fetch an average compensation of $92,974. On the broader spectrum, they could be looking at offers from $51,192 or even climbing up to $168,858, as highlighted by Indeed.
Rarely do Account Managers work for salary alone. They are mostly incentivized by a commission structure that drives their behavior towards the company goals, such as revenue growth and retention.
Publish your role where your ideal candidate will see it
Once you have defined the job description and decided on the pay range, the next step is to get your job listing in front of potential candidates. You can always use popular platforms like LinkedIn and Indeed. However, depending on the brand recognition of your company, your ad will get lost among the multitude of postings from larger, more established companies. Established companies get on average twice the applicants as non-recognized brands on these platforms.
A unique and effective option to consider is Boulo.
Our offering is customized to meet your budget and optimizes your job posting to stand out, especially beneficial for small and medium-sized businesses. With affordable pricing plans, Boulo provides access to a community of over 14,000 skilled and vetted professionals, including professional women, mothers, and caregivers who bring with them a wealth of knowledge, with many having over a decade of experience in their respective fields.
Boulo is committed to connecting you with top-tier talent who are enthusiastic about joining your team.
Conduct an Interview
The interview stage is your window to uncover the potential of an individual as an Account Manager. It’s more than finding a fit for the job; it’s about spotting someone who can redefine the role, and enriching your company’s bond with its clients.
Consider asking these questions:
- How do you navigate and nurture relationships with clients?
- This question seeks to understand their dedication to establishing and nurturing client relationships.
- Could you tell me about a time when you managed a challenging client situation?
- This will shed light on their problem-solving and client management skills.
- How do you go about meeting sales targets while ensuring customer satisfaction?
- This question will showcase the candidate’s ability to balance key responsibilities.
- What strategies do you employ to retain existing clients and acquire new ones?
- The answer will highlight the candidate’s strategic thinking and proactive approach.
- How do you handle feedback from clients, and can you provide an example of how you’ve used feedback to improve service or processes?
- An essential question, as it shows the candidate’s willingness to learn and adapt and their ability to influence change in the organization.
- How do you stay updated on industry trends and adapt your approach accordingly?
- A good Account Manager needs to stay ahead of the curve and continuously evolve with the industry.
The right Account Manager will significantly impact your client relationships and, in turn, your bottom line.
Create and finalize the offer
You’ve found your ideal candidate. Now, it’s time to present an offer that’s too good to refuse.
- Step 1: Present a Competitive Salary
Reflecting on the salary ranges discussed earlier, make sure your offer is competitive and aligns with the candidate’s experience and industry standards. Clearly explain your thoughts behind the salary and how it fits with industry ranges and the candidates skills. Provide the commision structure and the total income they could receive when they hit their goals (OTE).
- Step 2: Highlight Benefits and Perks:
Clearly outline benefits and perks that come with the job. This could include health insurance, retirement plans, bonuses, vacation, and any other incentives your company offers.
- Step 3: Emphasize Career Growth:
Show the candidate that your company is not just offering a job, but a long-term career path with opportunities for professional growth and development.
- Step 4: Discuss Work Culture:
Share insights into your company’s work culture and how it supports work-life balance, innovation, and employee well-being.
After extending the offer, it’s important to allow the candidate sufficient time to thoroughly review and consider the proposition. Maintaining transparent and open lines of communication throughout this phase to ensure a smooth and successful hiring journey.
FAQs on How to Hire an Account Manager
Let’s address the frequent questions SMBs have when recruiting an account manager.
- How can SMBs handle the time-consuming hiring process without affecting other business activities?
SMBs often find their essential tasks sidelined when deep in the hiring process. The time spent on sourcing, interviewing, and assessing candidates can divert attention from growth strategies or client relations. This is where Boulo steps in. By partnering with Boulo, SMBs can streamline their hiring, keeping their focus on their primary objectives. To discover how Boulo can save you significant time and effort, explore our Pricing page and choose the perfect package to suit your needs.
- What if SMBs lack the knowledge to effectively assess account manager candidates?
A lack of expertise in account management can lead SMBs to face difficulty in identifying the right candidates, potentially leading to poor hiring choices. Many Account Managers rely more on their soft skills than any prior training to be successful. Recognizing the challenge in identifying the right skills, Boulo offers a variety of solutions. At the highest level, our Custom package (SCALE package), you can lean on Boulo’s skilled recruiters to guide you through the process.
- How can SMBs ensure a new account manager fits their company culture and values?
Ensuring the account manager aligns with your company’s culture and values begins by clearly communicating those values during the interview process. Using behavioral interview questions can also help gauge a candidate’s cultural fit. Including team interactions as part of the selection process provides additional insights. With Boulo’s assistance, you benefit from a diverse candidate pipeline that emphasizes inclusivity and individual value, optimizing your search for the perfect fit.
The Account Manager Hiring Blueprint: Ready to Activate
Every aspect of hiring an account manager carries its own weight, from understanding hiring compliance complexity to ensuring a cultural fit.
We hope that with the the information we’ve provided and with and Boulo at your side, this task becomes significantly more manageable. Boulo streamlines the hiring process, connecting you with top talent that fits seamlessly into your vision. Now, it’s time to take the next step. Post a Job on Boulo to find the perfect fit for your team.