The ability
to manage accounts is valuable. It is important to be able to keep existing
clients happy and to ensure that you do not lose them to your competitors.
However, while account management is a valuable skill, the ability to generate
new business is much more beneficial to a company, if you have the required
qualities to succeed.
Generating
new business is a much tougher skill and requires more dedication. To be
successful, you have to be willing to put in long hours and make a lot of cold
calls. You need to ensure you constantly have new contacts in the pipeline. You
have to be resilient enough to cope with rejection and confident enough to continue
picking up the phone.
However, if
you are able to succeed in business development, the rewards are greater too. The
basic salary for an account manager and business development manager of a
similar experience and seniority level will be about the same. However, the
average on target earnings for business development managers is around 15%
higher, and in some sectors it is up to 20% higher.
While both
account management and business development are valuable parts of the company,
it is the latter that will contribute most to ensuring the continued growth and
success within the company. For this reason, business development skills are
highly sought after and generally receive a greater reward for their efforts.
Does a
career in business development appeal to you?
Hays Sales
UK have excellent opportunities for account managers and business development
managers. To find out more about how our expert consultants can help you
attract and retain top talent, please visit our website.
