Increasing company sales is the primary objective of acquiring outsourced account executive services through a reputable and experienced sales and marketing firm. It will not only aid in reducing the workload of overseeing and managing your sales management team; but also assist in eliminating the internal marketing costs of an account executive’s salary, benefits, incentives, and hourly wages.
Outsourcing the account executive services of your business will allow you to devote your time to focus on the other functions of your business, including future company growth and monitoring the success of your organization. If you recently launched a small startup company, your marketing plan should entail sales strategies and accomplishing your revenue goals.
We’ll review the following topics to give you an in-depth understanding, of the below:
- What is Account Executive (AE)?
- Salary of an AE
- AEs Job Description, Role, Responsibilities, Skills, and Educational Requirements
- Do’s and Don’ts When Hiring an Account Executive
- Questions to Ask a Prospective AE Firm
What is an Account Executive?
If you’re speculating what an account executive is, the professional title is a salesperson responsible for fulfilling the needs of existing customers or clients. An AE sets revenue goals and is paid a yearly salary along with commission after selling your company’s products and services. When working in sales, the account executive job description usually involves performing duties with the sales development representative (SDR). SDRs develop the initial interest of your organization and set up the first sales meeting comprising the sales team and other staff members.
Salary of an Account Executive
Most account executive jobs pay including commissions and salaries, range from $90,000 to over $300,000, depending on the industry and size of the business. Based on a 2020 Bureau of Labor Statistics report, the medium pay for sales/marketing managers or executives was about $141,500 annually or $68 per hour. Considering the salaries and hourly wages for AEs, the annual cost for hire can exceed the medium pay when accounting for tax liabilities and benefits. You can outsource services through a third party to handle parts or all your sales/marketing management, reducing costs and expenses.
AEs Job Description, Role, Responsibilities, Skills, and Educational Requirements
Understanding the account executive description is significant before hiring an outsourced marketing management firm, to ensure the services you need align with your marketing plan. Become knowledgeable on what an account executive does, thereby enabling you to make a better decision-making selection process. Learn the account executive role before interviewing AE prospects and prepare yourself to ask questions, ensuring you are choosing the perfect fit as a partner.
Account Executive Responsibilities
- Holding weekly team meetings.
- Providing product or service demos to prospective customers.
- Bringing on new clients or customers to your organization.
- Servicing your existing customers.
- Finalizing and closing deals.
During the consultation with an outsourcing business firm, ask questions pertaining to the account executive responsibilities that will support your internal account manager.
Look for specific account executive skills, including:
- Proficient Communication
- Problem Solving
Differences Between an Account Executive Manager and an Account Executive
An account executive manager is mainly responsible for increasing and maintaining existing relationships with your customers, which differs from an AE. One responsibility of an account executive is to find new clients for the AE manager and maintain individual relationships. When reviewing the credentials of a prospect, check the account executive education requirements, which are certifications or an undergraduate degree.
Do’s and Don’ts When Hiring an Account Executive
- Do research on the outsourced AE firm you are seeking services for hire.
- Do ensure outsourced sales and marketing align with your company goals.
- Do take on an active role in the partnership between you and the outsourcing sales
- Do set an account executive salary budget with a commission rate you can afford if you are a startup.
- Don’t expect immediate results after hiring an outsourced AE.
- Don’t engage with a basic call center but hire a trustworthy outsourced sales company with professional account executive skills.
- Don’t become vulnerable in the selection process but hire a professional based on reputation, qualifications, experience, and credentials.
Questions to Ask a Prospective AE
- What are the core sales competencies and the account executive job description of AEs?
- Can account executive jobs outline and demonstrate your company’s sales expertise and knowledge?
- How will the account executive’s description of an outsourced sales/marketing firm illustrate your firm’s proven track record of selling in the company and midmarket?
- What does an account executive do to support and enable expansion into a new geographical location?
- Does the sales team possess the experience and expertise to fulfill the account executive role and make decisions?
- Can the outsourced AE services provider prove the account executive education requirements?
As Fusion CPA, we help our clients with outsourced digital marketing solutions, that include referral marketing services, and various sales team solutions designed to increase brand awareness across your specific business industry.
This blog article is not intended to be the rendering of legal, accounting, tax advice, or other professional services. Articles are based on current or proposed tax rules at the time they are written, and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.