September 27, 2024

Episode 4: Why Account Management Matters More Than Ever

25 minutes

“What if I told you that you’re responsible for over 70% of your company’s revenue, but probably aren’t getting the recognition, resources, or support you deserve,” says Alex Raymond as he draws attention to how often account managers are overlooked. In this episode, he talks about how account management is becoming more critical in today’s business landscape. Account managers are emerging as the key to long-term growth as sales teams struggle with decreased win rates, longer sales cycles, and rising costs to acquire new customers. Would it be wiser for businesses to keep chasing new leads or should they focus on sustaining existing relationships?

Alex argues that account managers should prioritize deepening relationships with current clients, who are not only easier to retain but also more profitable. He points out that focusing on client retention could be the game changer that many businesses need right now.

This episode also introduces AMplify, a platform built to support account managers with a vibrant community where they can share ideas, learn from each other, and access resources tailored to their unique challenges. With live courses, templates, and peer support, AMplify helps account managers hone their skills and show their true value within their companies. Alex encourages account managers to check out AMplify and take their careers to the next level by shaping the future of client relationships and business growth.

Quotes

“Account managers take huge responsibility within their companies. They generate so much revenue. So much of the company’s revenue goes past their desks, and yet they don’t get the recognition they deserve. They don’t get the credit they deserve. All their credit always goes to the new sales team, who gets to ring a gong, and account managers typically don’t. It’s sort of assumed that account managers are operating in the background, in sort of like a status quo. And it’s really amazing because account managers are driving growth, they’re driving profitability, they’re securing renewals, they’re finding upsells, and the spotlight doesn’t shine on them.” (01:51 | Alex Raymond)

“This podcast is for the account managers who want more: more recognition, more skills, and of course, more success. It’s for the account managers who want to be seen as strategic leaders within their companies, not just relationship managers, not just paper pushers, not just the people who do the renewals.” (03:21 | Alex Raymond)

“Even though this podcast is for account managers who are looking after existing customers, we still want to understand what it looks like from a new business point of view. So, what is marketing concerned with? What is sales concerned with? Because the better we understand them, the better we can do our jobs and deliver for our companies.” (06:16 | Alex Raymond)

“The account manager’s role is more important than ever to ensure that customers stick around with us and grow. We know that the sales landscape is more challenging than ever, and traditional approaches are really cutting it. This really leads to account managers coming to the floor and becoming a very important force for sustainable growth inside of a company. This is why I think of account management as being the solution in 2024 and beyond.” (08:33 | Alex Raymond)

Links

Connect with Alex Raymond:

LinkedIn: https://www.linkedin.com/in/afraymond/

Website: https://amplifyam.com/

Podcast production and show notes provided by HiveCast.fm

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By Alex Raymond

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