Glossary
Account Manager (AM)
"Farms" new business from existing accounts.
Account Managers (AMs) ensure the success of accounts once they become customers. On the sales side of things, AMs are responsible for "farming" new business from existing accounts and upselling, as well as:
-Handling customer needs
-Increasing customer lifetime value (CLV)
-Increasing monthly recurring revenue (MRR) and annual recurring revenue (ARR)
-Ensuring customer's success with your product or service
-Maintaining or lowering churn rate
In some cases, they’re responsible for onboarding as well.
The number of AMs needed by your company depends primarily on how much untapped revenue potential exists once customers onboard. If accounts need to be constantly worked to unlock their true potential, then you’ll need many Account Managers. Other deciding factors include the total number of customers and the amount of non-sales maintenance each customer requires once onboarded.
Some organizations have Customer Success Reps/Managers (CSR/CSM) do the role of Account Management, whereas others have unique roles for both.
Account Mangers are necessary when customers can generate a lot of revenue after the first, initial sale.
-Handling customer needs
-Increasing customer lifetime value (CLV)
-Increasing monthly recurring revenue (MRR) and annual recurring revenue (ARR)
-Ensuring customer's success with your product or service
-Maintaining or lowering churn rate
In some cases, they’re responsible for onboarding as well.
The number of AMs needed by your company depends primarily on how much untapped revenue potential exists once customers onboard. If accounts need to be constantly worked to unlock their true potential, then you’ll need many Account Managers. Other deciding factors include the total number of customers and the amount of non-sales maintenance each customer requires once onboarded.
Some organizations have Customer Success Reps/Managers (CSR/CSM) do the role of Account Management, whereas others have unique roles for both.
Account Mangers are necessary when customers can generate a lot of revenue after the first, initial sale.