Any organization which wishes to build and maintain a strong base of clients can demand an Account Executive Job. The primary role of an key account executive is to maintain and build a good relationship with the clients so that it turns out to be beneficial for the company in terms of both: revenue and reputation. Account executives work in many different fields and are also known as account handlers. Account executives are a direct link between a company and its clients.
An account executive performs the following tasks that contribute to the growth of the company :
1. Find New Leads
2. Close Sales
3. Nurture existing key accounts
4. Formulate sales strategies
5. Communicate product value to clients
Duties of an Account Executive:
An Account Executive job demands the fulfillment of the following duties from an key account executive:
1. Identify prospective clients and expand the current client network
2. Develop a good sales pitch after conducting thorough market research and analysis of market trends
3. Handle all processes within a sales cycle which includes starting from pitching to when it is time to close the deal.
4. Present products or services to clients
5. Attend regular meetings with clients and keep close contact with them
6. Providing in-depth after-sales support to all the clients that includes handling complaints,preparing reports, invoicing and resolving any issue which may arise
7. Track and Coordinate all activities under a particular account
Account Executive Job Description
An key account executive performs several tasks and acts as a point of contact between the clients and the company’s internal teams. Account executives work to retain existing clients or key accounts and are in search of new prospective clients to expand the client network. They work with different teams of the company like sales, marketing, advertising team as well as the clients to ensure client satisfaction. Strong analytical skills, Good communication skills are some of the important account executive skills which are required. A successful key account executive strives to ensure company sales targets and goals are met or exceeded.
An key account executive can be employed by any of the following:
1. Advertising Agencies
2. Financial Services
3. IT Organizations
Related: Consultant Job Description, Key skills & Salary
Responsibilities of an account executive
An account executive job demands the fulfillment of the following responsibilities :
1. Ensure client satisfaction by keeping in touch with them and learning about their requirements
2. Find and reach new leads via different means like cold calling, telephone, networking.
3. Follow up with prospects several times throughout the sales cycle to make sure their needs are fulfilled
4. Present and demonstrate the values of products and services offered by the company to prospective buyers in a convincing manner
5. Find key trends through data analysis.
6. Formulate new sales strategies that can benefit the company
7. Stay updated with the company’s products/services and industry trends.
8. Maintain a database consisting of contact information
9. Find out ways to upsell and cross-sell to key accounts and build and nurture relationships with clients
10. Attend all sales meetings and any training sessions that are required by the management
11. Handle negotiations and any potential issues or concerns
Requirements for an account executive job
The following are the requirements for an account executive job :
1. A Bachelor’s degree in marketing, business, or any other related field
2. Additional education or relevant experience adds more value to the resume
3. Some fields may demand additional certifications or licenses
4. Excellent knowledge about company’s products/services and industry trends
5. Passionate about managing multiple accounts while looking for new opportunities
6. Good knowledge of market research, sales, and negotiating principles
7. Good verbal and communication skills required
8. Ability to understand client needs and handle the negotiation process very well
9. Excellent time management skills
10. Computer skills are required. Good knowledge about MS Office and CRM Software
11. Ability to build good relationships with clients and provide constant support to them
12. May require to travel as needed to meet clients and prospects
Average Salary of an Account Executive
The average salary for an account executive in Singapore is approximately SGD 40,000 to SGD 70,000 per annum, depending on factors such as experience, industry, and the company.
Industry-wise Comparison
|
Industry |
Average Annual Salary |
|
IT Services |
SGD 65,000 |
|
E-commerce |
SGD 60,000 |
|
Finance |
SGD 55,000 |
|
Healthcare |
SGD 50,000 |
|
Telecommunications |
SGD 45,000 |
Experience-wise Comparison
|
Experience Level |
Average Annual Salary |
|
Entry-level (0-2 years) |
SGD 35,000 |
|
Mid-level (3-5 years) |
SGD 50,000 |
|
Senior-level (5+ years) |
SGD 70,000 |
Top Companies Comparison
|
Company Name |
Average Annual Salary |
|
DBS Bank |
SGD 60,000 |
|
Singtel |
SGD 55,000 |
|
Grab Holdings |
SGD 65,000 |
|
Accenture Singapore |
SGD 70,000 |
|
Standard Chartered Bank |
SGD 50,000 |
The data indicates that salaries for account executives in Singapore are competitive and can vary based on the industry and experience level. The IT services and e-commerce sectors typically offer higher salaries compared to other industries.
Key Skills that are to be possessed by an account executive
An account executive job demands the following account executive skills:
Communication
It is an important skill. An account executive is constantly in touch with different leads, prospects, and accounts, and all of them have different communication preferences. An account executive has to adapt accordingly.
Empathy
To be a successful account executive, one needs to understand the prospect’s pain points and their desire to resolve them. Only then will you be able to build stronger relations with them.
Problem-Solving
One needs to have good problem-solving skills at this job as you might have to face several problems on any day. The issues might require quick responses and you cannot afford to take a lot of time in solving these issues. Hence this skill comes in handy in such situations.
Organization
An account executive job demands you to be a multi-tasker by handling so many things simultaneously like new leads, existing accounts, etc. So you have to be organized and have good time management skills to succeed at the job.
Negotiation
Good negotiation skills are a must. The best possible deal for the organization has to be closed without giving the client everything they want. Any possible objections have to be identified before they arise and also be resolved.
Determination
An account executive needs to have strong determination to get results. You should be focused to reach your goal.
Active Listener
To be able to identify client’s requirements clearly and also must have strong analytical skills
Why choose an account executive job?
Four reasons to opt for an account executive job:
1. You are passionate about connecting with others and building relationships
This job gives you great opportunities to connect to new people and build relations for the benefit of the company
2. You want to challenge your problem-solving skills
Account executive job comes with a variety of problems as you are dealing with a variety of people. If you are a good problem solver then you will enjoy being at this job
3. You want to play an important role in the growth of the company
An account executive can benefit the company by identifying potential prospects and cracking sales deals with them
4. You want to gain exceptional communication skills that will boost your confidence
This job gives you an excellent opportunity to improve your communication skills as you are constantly communicating with different people about different things
Also Read: Sales Executive Job Description
How to become a successful account executive?
An account executive job is earned by following the steps below:
1. Earn a bachelor’s degree
A bachelor’s degree in business administration or any related field will provide solid background knowledge in sales, interpersonal skills, and business acumen. A degree also adds value to the resume and helps in job recruitment.
2. Get some work experience
You can apply for an internship or entry-level job as it will add more weight to your resume. Having relevant experience in sales and management will higher the chances of your selection while applying for jobs
3.Get certified
Only a degree and work experience cannot land you a high-paying account executive job. To advance in your career, you should consider getting certification from reputed organizations like the Institute of Management Accountants etc.
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