A key account manager plays a very vital role in the functioning of the company. A key account manager is responsible for receiving, managing, and delivering work to the clients. He makes sure that the work is delivered with high quality. A key account manager also ensures that the demands and the expectations of the client are fulfilled by the organization. The relationship with the client has to be maintained to receive regular orders from them. A key account manager job also includes seeking business from the existing clients and capturing new clients.
What is a Key Account manager?
A key account manager job involves being the sole point of contact when it comes to contacting the company to give orders and communicate the expectations. Their work is not just limited to this. They have to ensure that the work is performed with diligence and delivered on time. In addition, they also need to solve the client’s grievances and follow-up with them regularly.
What does a Key account manager do?
- The key account manager job is pretty similar to a sales agent, with the only difference being that they have many more additional tasks to perform other than bringing clients.
- They also have the pressure to deliver the requirements of the clients on time.
- Besides this, a key account manager job is also to work in harmony with the other departments and coordinate with the logistics, marketing, sales, and advertising teams.
- They also act as a bridge between the company and the clients.
- Being an excellent key account manager will help gain trust with the clients and gain and improve the goodwill of the company in the market.
- They have to creatively work with the sales team and up-sell the products to maximize the profits to their highest levels.
Key account manager job duties include:
- The primary duty of a key account manager is to build strong client relationships and seek sales from them to maximize the company’s profits by strategically up-selling the products and services.
- Anticipating the clients’ actual needs and working accordingly with the production team to get the work done within the stipulated time.
- The primary skill of good communication is very important to maintain relations with the clients and to build new ones.
- The key account manager job also requires the supervision of the teams working on a specific project. It includes getting the work done on time and accurately.
Job brief for a key account manager:
A key account manager job requires him to engage in business development activities for value-added services. In addition, there needs achieving of targeted primary and secondary sales with a focus on some premium products.
Maintaining the right product plan per the mix of different departments and coordinating with them is very important. The key account manager job comes with a specific target that needs to be achieved during specific periods. These targets may be monthly, quarterly or half-yearly, or even yearly.
Responsibilities of a key account manager:
There are several key account responsibilities that a key account manager needs to fulfill:
- For the benefit of the stakeholders, the key account manager needs to prepare the reports and statistics to publish them for the stakeholders.
- They are a significant part of the new sales that come in, and these new relations need to be maintained, which is also taken care of by the key account manager.
- For the client to last long, proper communication and solving their issues is a must done by the key account manager.
- The clients trust the key account manager to get their work done in the way that is demanded and on time. So, the key account manager needs to ensure that it is all fulfilled timely and accurately.
Requirements of a key account manager:
As we saw in the duties and responsibilities required for this post, there are specific skills that go along with the requirements of the key account manager job role, such as:
- They should organize their schedule well as they have multiple tasks to be done.
- They should adhere to the instructions and time limit given to them.
- Should be able to work well in a team.
- Enthusiastic and motivated to work and take up new challenges every day.
- They must understand the importance of its prominent clients and manage them well, fulfill their requirements, and maintain strong relationships.
- Must work like a boss, for the betterment of the company they are working in, keeping in mind the new sales, clients, and territories.
- Should be able to read the statistics and develop plans to get better results in the future.
- Should have a minimum of 4 years of experience in sales, management, key account management, or a similar field to understand the job role better.
- Should be a good listener and must have a fast-grabbing power.
- Should be excellent in written and verbal communication skills.
- Must have a pleasing personality.
- Basic knowledge and understanding of Customer relationship management software, Microsoft office, and hands-on experience dealing with Excel.
- Should be able to get time out for taking follow-ups from the clients and have strong negotiation skills.
- Fast thinking and should come out with solutions for delivering good results to prove their existence in the company.
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The average salary for a key account manager:
The average salary for a key account manager in Malaysia varies based on experience, city, and industry.
General Salary Overview
- Entry-Level (0-2 years of experience): Approximately RM 40,000 - RM 60,000 per annum.
- Mid-Level (3-5 years of experience): Approximately RM 60,000 - RM 90,000 per annum.
- Senior-Level (5+ years of experience): Approximately RM 90,000 - RM 150,000 per annum.
Salary by City
| City | Average Annual Salary (RM) |
|---|---|
| Kuala Lumpur | 90,000 |
| Penang | 80,000 |
| Johor Bahru | 75,000 |
| Kota Kinabalu | 70,000 |
| Kuching | 65,000 |
Salary by Industry
| Industry | Average Annual Salary (RM) |
|---|---|
| FMCG | 100,000 |
| Pharmaceuticals | 110,000 |
| Technology | 95,000 |
| Retail | 80,000 |
| Corporate Sector | 85,000 |
Salary by Top Companies
| Company | Average Annual Salary (RM) |
|---|---|
| Maybank | 120,000 |
| CIMB Group | 110,000 |
| RHB Bank | 100,000 |
| Hong Leong Bank | 95,000 |
| Standard Chartered | 90,000 |
This overview indicates that key account managers in Malaysia can expect varying salaries based on their location and industry. Major urban areas like Kuala Lumpur generally offer higher salaries due to the concentration of companies and business activities.
Key Skills
The person applying for a key account manager job must have the following skills necessarily:
- A knack for sales and marketing
- A good communicator
- Good in written and verbal English
- Able to read and understand statistics
- Results-oriented
- Ability to multi-task
- Dedicated and self-motivated person
- Should be with a pleasing attitude
- People’s person
Why pursue a career as a key account manager?
Choosing a key account manager as a career is beneficial as every company runs on profit maximization. If you are someone who has relevant skills which are mentioned above, then this is the job for you. It is a rapidly growing field, and there are multiple job openings in various sectors and industries.
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How to become a key account manager?
To get a key account manager job, firstly, you must complete a BSc or BA in Business Administration, sales, marketing, or any other related field, after 12th grade.
Prior experience in the sales and management field will help you become a key account manager faster. However, being a key account manager for the long term is required for you to have a clear understanding of the working of the company and other departments in the company.
To become successful in this field, dedication is a must, and you must be able to face rejections and self-motivate yourself.
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