Account management can be considered an aspect of both sales and marketing. The goal of any business is to maximize the value of its shareholders, by increasing revenues and, eventually, profits. For businesses to grow, it is important that they can regularly identify potential new opportunities and, successfully, convert them to new customers. It is also important, however, that relationships with previous clients can be managed and strengthened, so that they continue to place future orders with the business.
This is where the concept of account management is introduced. The core element of account management is managing the business relationships with its existing clients, by understanding their needs and fulfilling those needs with products, or services, that the business offers. Continue reading