Who doesn't want to be a top AE salesperson? It's the best job out there because you make money and work your own hours. But, what does it take to be a top salesperson? Read this blog post and know the tricks & tips!
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Let's start with the basics when talking about AE Sales. An Account Executive, or AE, is a salesperson for your company. They're responsible for selling and closing new businesses. This means they work directly to bring in customers and help them get started using your product or service so that you can generate revenue from them.
Account Executives have changed a lot over the years. They've become more strategic and are now an integral part of your company's sales team. In many cases, they're responsible for building relationships with potential customers and helping to close deals. They also play a crucial role in customer retention by ensuring that customers are happy with their products and services.
They indeed have come a long way since their early days. Initially, they were focused purely on new business development and generating leads. However, as sales cycles have grown more complex and customers have become savvier, so too has the role of the Account Executive.
Today, in addition to lead gen, AEs are now responsible for customer success (making sure customers are getting what they need from your product or service and are happy with the experience), upselling, and cross-selling (selling additional products and services to current customers), and even closing deals.
In short, the AE role has evolved into essential for driving growth and success for any company.
Helping teams find success to drive results and grow efficiently is one of our specialities. Many companies have found tremendous value in creating their version of what we know as an “AE” internally within their organisation - either using other titles such as Business Development Manager (BDM), Key Accounts Manager (KAM), Sales Operations Associate (SOA), etc.
We are ex-employees, having held many of these roles ourselves in the past, and understand what it takes to be successful in this position and the needs that arise when scaling your team for bigger deals.
Now that you know a little bit more about what an Account Executive does, let's take a look at some tips for being successful in this role:
1. Hold Multiple One-On-Ones (1:1s) Each Week
This is one of the most important things an AE could do. Having 1:1s every week with your managers and Account Executive is what makes your 1:1s as productive as they can be. Don't schedule these 1:1s during the day, as you might just want to do them after work hours because it allows everyone to relax and go home without worrying about anything else.
This way, if there's a problem or just something that your manager wants to talk about, you can just plan for the next meeting and then discuss it then.
Your AE's hold a lot of responsibility on their shoulders - they need to know you care about their success and career development even if they aren't “in sales” anymore. This means scheduling regular 1:1 check-ins with each member of your team every week.
During these meetings, focus less on numbers and deals closed and instead talk about their growth since the last meeting, what they learned about your product or service, and what's coming down the pipeline.
2. Complete and Review Pre-Call Plans (Once The Initial Meeting is Booked)
Being an AE isn't easy by any means, but this task is critical for everyone to know how the call went and what to do next. But when an AE gets a lead interested in your company, it's their responsibility to set up meetings with them during “sales mode” (i.e., if they're not already using your services).
After that initial introduction, you should expect regular updates from them on how all calls are going (if not before), along with pre-call planning documents - either created offline or in Salesforce - for each call they hold. The key here is providing everything upfront, so there are no surprises!
3. Debrief (Immediately) After Each Initial Meeting
When an AE has a meeting, they should debrief with their manager immediately afterwards. This means discussing what happened during the meeting, what was concerned, the following steps, and more. Doing this helps keep everyone on the same page and makes sure everyone knows what to do next.
Focusing on the call and not on your manager's feedback will allow you to better process how it went and adjust for your next meeting. This is especially true when it comes to after-call debriefs, where everything necessary needs to be written down immediately after the meeting, so everyone knows what happened and what to do next.
4. Communicate With Each Other “In The Moment.”
Since sales is often a very dynamic process, your AE team must communicate with each other as things are happening. This can be done through various tools such as Slack, email, text message, or whatever else you're using.
As long as everyone is on the same page, it'll be much easier to stay organised and on track. Your manager should be aware of their whole pipeline at all times, which means you need a way to tell them what's going on as things are happening.
5. Consider CRM the “Single Version of the Truth.”
Sometimes, even if a meeting is going well, it never hurts to plan the next step ahead of time before moving forward with anything. This can be especially helpful when multiple meetings are lined up with different prospects.
Since your AE team is working with customers and leads, it's crucial to have a CRM that everyone uses and updates regularly. This way, you'll always have the most up-to-date information on prospects and customers, and it'll make things much easier when it comes time to follow up or close a deal.
Sales is a critical function for any company - no matter what industry you're in. And while having an internal AE team can be costly, the long-term benefits are worth it. By implementing these tips, you'll be able to create a sales team that drives more revenue to your company, keeps customers happy, and provides valuable mentorship to younger employees.
An AE is responsible for dealing with existing customers of an organization to increase revenue by upselling or cross-selling. This role typically covers a small number of large accounts where the sales process requires more effort than the average sale.
Many organizations find this method of creating sales efficiency resulting in increased revenue or market share. Account executives often work in a team to reach common goals and quotas.
BDR is an acronym for “business development representative.” They are the first point of contact for many companies, and their job is to identify potential customers and pass them along to an account executive.
An AE sales relationship is typically a more formal one where the AE is responsible for driving revenue from current customers. AE works with a smaller number of high-value accounts while BDRs work with many low-value accounts.
We have listed down a few differences between BDRs and AE sales reps:
1. Team sizes
Business development rep (BDR) account executives account managers.
- More significant number of direct reports - typically 6-10 reps
- Fewer number of direct reports (<2)
- Bigger team size, e.g., the sales manager may have four account managers working under them, each account manager will have 6 to 10 account executives working under them
- Individual account executives are expected to manage one account at a time, and hence they directly report to account managers
2. Deals closed per month BDRs usually close more deals each month than account executives do because they handle a large volume of low-value prospects that don't convert into customers, while account executives handle fewer leads but focus on high-value accounts, which can result in more deals closed
3. Training and experience
BDRs usually have less training and experience than account executives because they are usually promoted from within the company or have a sales related degree, while account executives usually have an MBA or equivalent experience.
4. Pipeline focus
BDRs focus on building the pipeline by identifying potential customers and passing them along to account executives whereas account executives focus on driving revenue from current customers.
5. Responsibilities
BDRs are responsible for identifying potential customers, qualifying them, and passing them along to account executives whereas account executives are responsible for dealing with existing customers of an organization to increase revenue
BDRs are responsible for generating leads, setting up meetings with account executives, qualifying prospects, and closing deals while account executives are responsible for building relationships with customers, presenting and proposing solutions, negotiating contracts, and managing customer's accounts
Although there are some key differences between BDRs and account executives, account executives are also expected to handle some of the responsibilities that BDRs take care of, such as setting up meetings with account managers. However, account executives are held accountable for driving revenue from current customers whereas BDRs are not.
CRM is a valuable tool for account executives because it allows them to keep track of their entire pipeline at all times. This is especially important when you have multiple meetings lined up with different prospects. With a CRM, you'll always have the most up-to-date information on prospects and customers, and it'll make things much easier when it comes time to follow up or close a deal.
When it comes to sales, account executives are the key players. They are responsible for building relationships with customers, presenting and proposing solutions, negotiating contracts, and managing customers' accounts.
As an account executive, it's important to have a CRM that you're using and updating regularly. As an AE, understanding tools like CRM is crucial for building relationships with customers. Another equally important tool is a rate shopper, which helps in evaluating competitive pricing and ensuring you’re offering the best rates to clients. Learn about the top 15 features to look for when selecting a [rate shopper] to enhance your sales strategy. This way, you'll always have the most up-to-date information on prospects and customers, and you'll be able to close more deals.
6. Compensation Account Executives Account Managers
- Account executive account managers.
- Account manager is usually a more experienced account executive with a proven track record of generating revenue for the company.
- Account manager's salary is more than an account executive's salary and this is because they are held accountable for driving revenue from current customers whereas account executives aren't as closely linked to account performance as account managers are.
7. Time spent on particular accounts BDRs work with a smaller number of higher-value accounts while account executives spend most of their time working on fewer but bigger deals, one at a time.
8. Client interaction experience BDRs have less client interaction experience than account executives do because they focus on building the pipeline through prospecting whereas account executives focus on account management.
9. Number of deals closed Account Executives
- Account managers and account executives close the majority of deals that happen within a company while business development representatives tend to generate less revenue than other sales roles do.
- BDRs tend to handle fewer leads but focus on higher-value accounts whereas account executives handle more leads and work with a smaller number of bigger deals one at a time.
In a full cycle sales model, the account executive is focused on driving revenue from current customers, whereas in the SDR/AE model, the account executive is focused on building relationships with customers and generating new leads.
The responsibilities of account managers and account executives are quite different. Account managers are typically more experienced account executives who have a proven track record of generating revenue for the company. Their salary is also usually higher than an account executive's salary. This is because they are held accountable for driving revenue from current customers, whereas account executives aren't as closely linked to account performance.
BDRs work with a smaller number of higher-value accounts, while account executives spend most of their time working on fewer but bigger deals, one at a time. This difference in account focus leads to different levels of client interaction experience. BDRs have less client interaction experience than account executives do because they focus on building the pipeline through prospecting, whereas account executives focus on account management.
Account managers and account executives close the majority of deals that happen within a company. BDRs, on the other hand, tend to generate less revenue than other sales roles do. This is because they handle fewer leads but focus on higher-value accounts.
So, which sales model is better? The full cycle sales model or the SDR/AE model?
There is no one-size-fits-all answer to this question. It depends on your company's needs and what type of account executive you want to hire. If your account executives are already managing large deals one at a time, they will probably grow frustrated if they also have to dedicate time to prospecting for new deals every day.
On the other hand, account managers who are held accountable for driving revenue from current customers may feel that account executives don't work as closely together on deals, which negatively impacts their sales results.
When hiring salespeople, it's important to understand their perspective on account management and lead generation. Knowing where account executives stand on these issues is essential when making hiring decisions so you can find people willing to buy into your company's goals and culture.
This is why many companies choose the SDR/AE model because it allows account managers to focus on account management and account executives to focus on generating new leads. This division of labor results in a more efficient sales process and allows account managers to serve their customers better.
The complete cycle sales model is better for companies that want account managers who are focused on driving revenue from current customers. The SDR/AE model is better for companies that want account executives who are focused on generating new leads. Whichever sales model you choose, it's important to make sure that your account executives are held accountable for meeting specific goals so they can contribute to your company's bottom line.
In conclusion, AE sales reps are a vital part of any sales team. They work with a smaller number of high-value accounts while BDRs work with a large number of low-value accounts. Although there are some critical differences between the two positions, account executives are also responsible for some of the same activities as BDRs. Having a CRM that you're using and updating regularly is essential for anyone in an account executive role.
