In modern-day economies, organizations draw up adequate sales and marketing strategies, both short and long-term, to attract customers and stay ahead of the competition. These strategies also ensure that corporate profit indicators improve in domestic and international markets. Enterprise account executives help organizations increase sales and engineer sound marketing procedures.
An enterprise account executive coordinates sales and marketing activities for a corporate segment, department or business line, ensuring that sales personnel meet quotas that senior management puts into place. The account executive also plans and directs staffing, training and performance evaluations in collaboration with segment chiefs. Improving a company's market share in domestic or international sectors is also an important responsibility that an enterprise account executive must assume in addition to maintaining good relationships with major customers. Other items on account executives' to-do-lists are preparing budgets and approving budget expenditures, monitoring customer preferences and determining price schedules and discount rates.
Salary levels for enterprise account executives depend on the size of the company, the industry and compensation arrangements in the short and long terms. These arrangements may include performance bonuses, stock options and other nonfinancial incentives, such as the use of corporate cars. BLS data show that an enterprise account executive earned a median annual salary of $97,260 as of 2008, excluding bonuses and other nonfinancial incentives. This compensation increased to $115,000 as of 2010, according to Indeed, the career data portal.
Education and Training
An enterprise account executive typically possesses a bachelor's degree in business management, marketing, economics or sales management, according to the U.S. Bureau of Labor Statistics (BLS). Applicants with other educational backgrounds are not uncommon in the occupation. Some account executives have less academic training but possess extensive industry experience and product knowledge. Depending on products or services that they market, some account executives may attend training sessions to polish their technical skills and product knowledge.
To perform the required tasks adeptly, enterprise account executives generally rely on customer relationship management software and enterprise resource planning software, according to the U.S. Department of Labor's Occupational Information Network (O*NET OnLine). Account executives also use personal digital organizers, calendar and scheduling software, database user interface and query programs, human resources administration software and contact management applications.
O*NET OnLine indicates that an enterprise account executive must display effective communication skills when performing tasks. The account executive also must possess judgment and decision-making aptitude to provide subordinates with the marketing acumen necessary to complete tasks. Other important character traits for account executives include active listening, social perceptiveness and the ability to work on multiple projects simultaneously.