Account managers are more vital than ever – don’t let anyone tell you differently

In fact, trends from the ONS indicate that roles in account management faced higher redundancy rates compared to pre-pandemic levels due to budget cuts and restructuring efforts within companies​.

However, as someone who has been on both sides of marketing account management over the last nine years of my career, I believe that these contemporary shifts in the world of marketing actually increase the need for account managers, rather than forcing them to down tools. I strongly advocate that in order for agencies to retain, nurture and have deeper, more meaningful, relationships with clients, they must invest in good account management.

The glue

Approximately 16% of UK workers are now working from home full-time, while an additional 28% are engaging in hybrid working, splitting their time between home and the office. This represents a substantial shift from pre-pandemic figures, where homeworking was much less common​.

With teams working remotely, this leads to more challenging communication and collaboration. Three-quarters of marketers say that the pandemic has permanently changed how they collaborate and communicate, and 69% of marketers also think it’s harder to collaborate now than it was before the pandemic.

In an ever-digital world of communication between teams, account managers help centralise chatter by acting as a conduit for information between clients and internal teams. They coordinate efforts across departments, maintain comprehensive documentation, resolve conflicts, align strategies, and enhance cross-functional collaboration. Their role is crucial in ensuring that client needs are met efficiently and that internal teams are well-coordinated and informed.

This doesn’t just mean internally, either. Communication is everything when it comes to client-agency partnerships. Oftentimes, teams without a centralised account manager tend to have disjointed communication with clients, leading to fuller inboxes and increased client frustration.

It’s simple, better centralised communication internally and externally makes for stronger relationships with clients.

Pressing palms

We’ve all spoken to a bot and not received the answer we were hoping for. The same principle applies here. AI and project management software cannot replace the human connection an account manager builds with clients.

Account managers build and maintain personal relationships with clients, understanding their unique needs, preferences, and business contexts. While tools can manage tasks and schedules, they cannot replicate the nuanced understanding and emotional intelligence required for effective client relationships and their business needs.

The benefit isn’t just felt by clients, either. Agencies reap the rewards of good account management. Studies show that businesses with effective account management strategies have higher client retention rates. For instance, a report by Bain & Company highlighted that increasing customer retention rates by 5% can increase profits by 25%-95%. It’s a win-win.

Sam Nobes, brand director at Queensmith, also believes that account management is integral to client-agency partnerships. He says: “Having a solid Account Manager and Client Success team, like we do with our partners at Impression, is a game changer. They are the glue that keeps everything together – from making sure tasks are on track to keeping our reporting sharp and up-to-date. They set expectations, provide you with the necessary nudges and ensure everything stays on track.”

However, Sam believes that account managers shouldn’t be the only point of contact agency-side, “I do think some agencies can get it wrong by having account managers as the only contact for businesses to liaise with, whereas with Impression, what really makes them stand out is not just our stellar account manager, but also the direct line we have to channel leads and how they facilitate this. It’s like having the best of both worlds. Our account managers are on top of everything, always tweaking and optimising our processes to make sure they really fit what we need.”

The benefits of effective account management – enhanced satisfaction, improved communication, tailored solutions, increased value, and the fostering of long-term strategic partnerships – collectively contribute to better client outcomes and stronger business relationships.

So, long may account management continue.