Account managers are the point of contact and liaison between a business and its clients. An account manager is assigned to specific accounts to maintain the customer relationship, provide service, and to ensure that the customer remains client.
It is easier and more cost-effective to preserve a long-term relationship with a client and to get their repeat business than to find new clients. This is especially true when the client is a business entity and their business constitutes a significant portion of overall Revenue.
The account manager in charge of a business account must remain in constant contact through the use of various communication media and in-person visits. Saying up to speed with developments in the client’s industry and keeping the client aware of products, services, and deals that may be available to them will be essential to keeping a good rapport with a client and locking out the competition.
There may be a new competitor trying to earn a client's business on a daily or weekly basis, so it is essential that they feel taken-care-of. Account managers in the financial services industry may help a bank or advisory firm keep up with life-changes and ensure satisfaction for a vast clientèle.
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