Question

What is account management ? Why is it essential in an industrial enterprise ? Describe

Answer 1

Explanation:

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Account management is a post-sales role that focuses on nurturing client relationships. Account managers have two primary objectives: retain clients' business and grow those opportunities. They accomplish these objectives by learning what their clients' goals are and helping their clients achieve them.

Key account management focuses sales resources on retaining the clients most likely to generate high levels of revenue and profitability. To do so, key account managers build a detailed understanding of their clients' specific requirements – in turn improving the performance of their business.

Answer 2

Explanation:

Why account management is key to business success

Posted By: Lucidchart Content Team

Good business is built on good relationships. But nurturing and maintaining relationships is easier said than done, especially in business, where competition for clients is fierce and loyalty is hard-won.

So how can you compete? Enter account management.

Account managers are essential to maintaining strong client relationships and a healthy bottom line. Below we cover the roles and responsibilities of account managers and explain how they contribute to the success of their clients and business.

What is account management?

Account management is a post-sales role that focuses on nurturing client relationships. Account managers have two primary objectives: retain clients’ business and grow those opportunities. They accomplish these objectives by learning what their clients’ goals are and helping their clients achieve them.

Unlike a traditional sales role, which is short-term and focuses on landing the client, the account manager acts as a long-term liaison and, hopefully, a trusted consultant for the client.

In other words, sales is transactional and account management is relational.