Overview
Keen to work internationally and collaborate with prestigious clients in the world of travel and hospitality? Become a key account manager.
What is a key account manager?
The café, hotel, restaurant and nightclub sector is the fourth largest private-sector employer in the French economy, with more than 60,000 new hires every year. It represents a genuine wellspring of career opportunities.
Hospitality careers, which account for 29.4% of tourism-related employment, offer a wealth of openings thanks to the 39,000 hotel and tourist accommodation businesses that are recruiting continuously. Within this broad hospitality family sits the role of key account manager, also known as sales manager or account manager. This key accounts function has grown considerably in recent years, in large organisations and small and medium-sized enterprises alike.
What does a key account manager do?
A pivotal figure in a company's B2B (business-to-business) development, and therefore in dealings between professionals, the key account manager looks after clients who generate substantial revenue. They might, for example, work for a bedding manufacturer and deal with luxury hotels around the world. These are strategic clients for the company's commercial and, by extension, financial growth.
As well as ensuring the satisfaction of the existing client portfolio, they must canvass for new business. This sales professional does not, however, work alone. Under the guidance of a sales director, they are in constant dialogue with the various departments of the organisation they work for (accounts, human resources, technical services and so on), which are essential partners in delivering the second part of their remit.
Alongside prospecting, building client loyalty lies at the heart of their work. To that end, they are involved at every stage of a contract: pre-sales, negotiation, the project itself, whose smooth running they monitor, and finally after-sales support. Their working life is therefore divided between meetings and frequent visits in the field as part of managing client relationships.
Once a sale has been identified, their aim is to negotiate or renegotiate contracts while presenting their company's new product or service ranges, so as to sustain the relationship already established and secure the long-term loyalty of these key account prospects. They are given a communications budget to promote these new offerings.
What qualities does a key account manager need?
Working as a key account manager calls for a many-sided profile. Given the nature of their clients and the primary purpose of the role (selling), they must be an accomplished technical sales professional. To this must be added:
- A talent for negotiation and for listening, in order to secure the greatest possible benefit while taking the client's constraints into account
- An open mind, in order to anticipate client needs and analyse the market
- Considerable resilience under pressure, in order to keep a cool head in high-stakes negotiations
In addition to their individual work, they may be given responsibility for supervising a sales team. This calls for management skills in order to guide colleagues as effectively as possible. Strong interpersonal skills are therefore also essential, both to keep clients happy and to maintain cohesion within the sales team.
What are the career prospects and salary for a key account manager?
A rapidly expanding function, the post of key account manager is generally reached through promotion, after at least three years' experience. Newly qualified graduates most often start out in a sales role. Following a solid track record, they can expect promotion to area manager and finally to key account executive.
Many roles are conditional on substantial experience. Once they can demonstrate a successful record in key account work, this seasoned sales professional can be entrusted with greater responsibilities, including management duties. The key account manager can then progress to key account director and subsequently to national sales director.
The latter still handles strategic accounts, but these clients make up a portfolio of national accounts. They will then head a team of several people, to whom they pass on their commercial experience. The final step is that of sales director. Depending on the organisation, this senior sales role may have an international dimension.
Key account managers earn an average of €5,000 gross per month. Salaries range from €2,500 to €6,600 gross per month depending on experience and employer. This remuneration is usually split between a fixed salary and commission, an arrangement most often negotiated when the contract is signed.
How to become a key account manager
As a position of responsibility, a qualification at Master's level is an absolute prerequisite. A two- or three-year higher education qualification can also lead to this kind of sales management role, provided it is backed by substantial professional experience and a command of the various sales techniques. To that end, the aspiring key account manager should follow a course at a business school or train as a sales engineer (also known as a business engineer), in order to acquire the sales fundamentals that are indispensable to this line of work.
That said, the management skills the post demands may also call for further training. CMH accordingly offers an MBA that provides a comprehensive understanding of the hospitality sector and of the management aspects of this profession.
It rests on three pillars: an in-depth knowledge of the international hospitality sector, the acquisition of theoretical and practical fundamentals in hotel management, and international immersion, with classes and placements abroad.
This qualification corresponds to the final two years of our Grande École programme and is open to students who have completed three years of higher education. Classes are delivered in English 90% of the time. International in outlook, it is recognised as a Level 7 RNCP qualification, equivalent to a Master's degree.
After choosing a specialism at the end of the first year of the MBA, students validate their theoretical and professional management learning by defending a final dissertation.
