It’s hard to imagine anyone not wanting to be a top AE seller. This is the most rewarding job because you can make your hours and earn money. What does it take to become a top-selling salesperson? This blog post will give you secrets and tips.
Let’s get down to the basics of AE sales. Your company’s Account Executive (or AE) is a salesperson. They are responsible for closing new business deals. They work directly with customers to get them started with your product or service, and then generate revenue.
The Evolution of the AE sales
Account executives have seen a lot of changes over the years. They are an integral part of the sales team and have become more strategic. They are often responsible for building relationships and closing deals. They are also responsible for customer retention and ensuring customers are satisfied with their products.
They have indeed come a long distance since their infancy. They were initially focused on new business development and generating leads. The role of the Account Executive has changed over time as customers have become more sophisticated and sales cycles have become more complicated.
Today, AEs are responsible for customer success. They are responsible for upselling and cross-selling (selling additional products or services to existing customers) and closing deals.
The AE role is essential to driving growth and success in any company.
Our specialty is helping teams achieve success and drive growth. Many companies find it extremely valuable to create their version of the “AE” within their organization – using other titles like Business Development Manager (BDM), Key Accounts Managers (KAM), or Sales Operations Associate (SOA).
Ex-employees who have held similar roles in the past. We know what it takes to succeed in this role and the challenges that can arise when scaling up your team for larger deals.
5 Tips for Successful Account Executives
Let’s now learn a bit more about the role of an Account Executive.
1. Every week, hold multiple one-on-ones (1:1)
This is the most important thing an AE can do. Your 1:1s will be more productive if you have 1:1s with your managers and account executives every week. These 1:1s should not be scheduled during the work day. Instead, schedule them after hours so everyone can relax and go home.
If there is a problem, or you just want to talk with your manager, you can plan for the next meeting, and then discuss it at that time.
Your AEs have a lot on their shoulders. They need to feel that you care about them and their career. You should schedule regular, one-on-one check-ins every week with all members of your team.
These meetings should not be about closing deals or numbers. Instead, talk about the growth of your customers since the last meeting, the lessons they’ve learned about your product, and the future.
2. Complete and review the Pre-Call Plan (Once the Initial Meeting has been Booked).
Although it is not easy to be an AE, this is crucial for everyone to understand how the call went and what they should do next. If an AE can get a lead interested, they must arrange meetings with them in “sales mode”.
You can expect them to update you on all calls (if not earlier) and provide pre-call planning documents, either in Salesforce or offline, for every call. It is important to provide all information upfront so there are no surprises.
3. Debrief (Immediately) After Each Initial Meeting
After a meeting, an AE should immediately debrief with their manager. It involves discussing the events of the meeting, what was discussed, the next steps, and other details. This helps everyone stay on the same page and ensures everyone knows what’s next.
By focusing on the call, and not your manager’s feedback, you can better understand how it went and make adjustments for the next meeting. This is especially important for after-call debriefs. Everyone needs to know what happened and what is next.
4. Communicate with each other “In the Moment strong>
Sales is often a dynamic process so your AE team needs to communicate as the events unfold. You can do this using various tools, such as email, SMS, and Slack.
It’s easier to keep everything on track if everyone is on the same page. Your manager must be aware of the entire pipeline. This means that you will need to have a way to inform them as events unfold.
5. CRM is the “Single Version .”
Even if the meeting is going well it’s a good idea to plan the next steps ahead of time. This is especially useful when you have multiple meetings with different prospects.
It’s important to have a common CRM that all members of your AE team use and update regularly. You’ll have the most current information about prospects and customers and will be able to make it easier when you need to follow up on a lead or close a deal.
Creating an internal AE Team
No matter your industry, the sale is an essential function of any company. While having an internal AE team is costly, it can have long-term positive effects. These tips will help you create a sales team that generates more revenue for your company, makes customers happy, and mentors younger employees.
An AE deals with customers to increase revenue through upselling and cross-selling. This role usually covers large accounts that require more work than the average sale.
This method is often used by many organizations to increase revenue and market share. Account executives often work together in teams to achieve common goals and quotas.
BDR and AE: What’s The Difference?
BDR stands for “business development rep.” Their job is to find potential customers and forward them to an account executive.
An AE sales relationship is usually more formal and the AE is responsible to drive revenue from existing customers. AEs are responsible for a small number of high-value customers, while BDRs deal with many high-value clients.
Below are some differences between AE sales reps and BDRs.
1. Team sizes
Business development rep (BDR) account executives and account managers.
– A greater number of direct reports, typically 6-10 reps
– Less direct reports (2)
– Larger team size. For example, sales managers may have four account managers. Each account manager will have six to 10 account executives under their supervision.
– Account executives will manage one account at the same time. They report directly to account managers
2. Deals Closed per Month BDRs often close more deals per month than account executives because they deal with a lot of low-value prospects who don’t convert to customers. Account executives, on the other hand, handle fewer leads and focus more on high-value accounts. This can lead to more deals being closed
3. Training and experience
BDRs typically have less experience and training than account executives, as they are often promoted within the company or have sales-related degrees. Account executives have usually an MBA or similar experience.
4. Pipeline focus
BDRs are responsible for building the pipeline by identifying new customers and passing them on to account executives, while account executives concentrate on driving revenue from existing customers.
5. Responsibilities
BDRs are responsible to identify potential customers and qualify them before passing them on to account executives. Account executives deal with existing customers to increase revenue.
BDRs are responsible for generating leads, setting up meetings and qualifying prospects, and closing deals. Account executives are responsible for building relationships with customers and presenting and proposing solutions. They also negotiate contracts and manage customer accounts.
While there are key differences between BDRs, account executives can still handle some of the same responsibilities as BDRs, such as setting up meetings with an account manager. Account executives, however, are accountable for driving revenue from existing customers. BDRs are not.
Account executives will find CRM a useful tool because it allows them to track their entire pipeline. This is particularly important if you have multiple meetings with different prospects. A CRM will ensure that you have all the latest information about prospects and customers. It’ll also make it much easier to follow up on a lead or close a deal.
Account executives are key players in sales. Account executives are responsible for building customer relationships, proposing solutions, negotiating agreements, managing accounts, and managing customers.
It’s essential to maintain a current CRM for account executives. You’ll have more opportunities to close deals and will always have the most recent information about prospects and customers.
6. Compensation Account Executives Account Management
– Account executive account managers.
– An account manager is typically a senior executive who has a track record of generating income for the company.
– An account manager’s salary is higher than that of an account executive. This is because they are accountable for driving revenue from customers, whereas account executives don’t have as close a relationship to account performance.
7. Time spent on specific accounts BDRs work with a lower number of high-value accounts, while account executives spend their time on smaller but more important deals one at a.
8. Client interaction experience. Account executives have more client interaction experience than BDRs, as they are focused on building the pipeline through prospecting, while account executives concentrate on account management.
9. Number of closed deals Account Executives
Account executives and account managers close most deals within a company, while business development reps tend to generate less revenue than other sales positions.
BDRs handle fewer leads but are more focused on high-value accounts. Account executives deal with more leads and can work with smaller deals.
Full-cycle Sales vs. the SDR/AE model
The account executive in a full-cycle sales model is focused on increasing revenue from existing customers. In the SDR/AE model, the account executive focuses on developing relationships with customers and generating leads.
Account managers and account executives have different responsibilities. Account managers are usually more experienced account executives with a track record of generating revenues for the company. They are often paid a higher salary than account executives. They are accountable for driving revenue from customers. Account executives are not as closely tied to account performance.
BDRs only work with a small number of high-value accounts. Account executives, on the other hand, spend their time on smaller but more important deals once in a while. The difference in client focus results in different levels of client interaction. BDRs are less likely to interact with clients than account executives because they concentrate on prospecting and building the pipeline, while account executives work on managing accounts.
Account executives and managers close most of the deals within a company. BDRs generate less revenue than other sales positions. BDRs handle fewer leads, but they focus on high-value accounts.
Which sales model is best? Which sales model is better, the full-cycle model or SDR/AE?
This question is not easy to answer. It all depends on what your company’s needs are and the type of account executive that you wish to hire. Your account executives who are managing large deals will likely become frustrated if they have to spend their time prospecting for new business.
Account managers who are accountable for driving revenue from customers might feel that account executives work less closely together when working on deals. This could negatively impact their sales results.
It is important to get to know the perspective of account managers and salespeople when hiring. It is important to understand the perspectives of account executives to make hiring decisions that will allow you to find people who are willing and able to support your company’s goals.
Many companies opt for the SDR/AE model as it allows account managers and account executives to concentrate on account management, while account executives can focus on generating leads. This division of labor allows for more efficient sales and allows account managers to better serve their customers.
Companies that need account managers who can drive revenue from existing customers will prefer the complete cycle model. Companies that need account executives who can generate new leads will prefer the SDR/AE model. No matter what sales model you choose account executives must be accountable for achieving specific goals to contribute to the company’s bottom line.
AE sales representatives are a crucial part of any sales team. BDRs are responsible for a larger number of high-value clients, while AE sales reps deal with a smaller amount of high-value customers. While there are important differences between the positions, account executives can also be responsible for certain activities similar to BDRs. Account executives need a CRM they can use and update regularly.