Purchase orders and PO numbers
What is a purchase order (PO) and why is it super-important to an Account Manager?
Is an Account Manager a sales person?
Did you get into account management thinking you'd be an organiser or relationship-builder, but never in "sales"? You may have to think again!
Should your client be paying a retainer?
What is a "retainer"? What is included in the fee? Is a retainer a good idea for both agency and client?
What if your client won't pay?
We've all been there before: 30 days pass, then 60 days, then 90 days...or - worse still - your client flat out refuses to pay an invoice. When you, as Account Manager, are the jam-in-the-sandwich between your client and your Finance Department, what do you do?
"It's too expensive!"
How often have you had a client reject your quote claiming "it's too expensive"? Chances are the comment may not relate to your quote being outside their budget, it may be your client is really saying "it's not worth it" or "I don't perceive the value in that price". How can you alter your client's perception, win your client over and close the sale?
Margin and mark up, what's the difference?
As Account Managers we will often be faced with accountant's jargon that we will have to both understand and action. Two of the jargonese that can be profusely confusing are "margin" (a.k.a. "profit margin" or "gross profit") and "mark up". Let's learn what they mean, how the terms differ and when to use them.
How to calculate GST (New Zealand)
GST (Goods and Services Tax) is a New Zealand value-added tax with a current rate of 15%. GST need to be included on most goods and services that we offer within the print and advertising industry in New Zealand. Here's how to calculate GST for your quotes and invoices.
When a client complains
As an Account Manager, it's part of your unwritten job description that you will have to handle a truckload of complaints over the course of your career. Knowing that you are guaranteed to experience snarky emails, heated phone calls, and tense meetings, it makes sense to learn how to handle the complaints when they land.
Divorcing a loyal client
How do you say goodbye to a client that you may have worked with for many years, who has been loyal to you, and has given you no reason to earn your disfavour other than they no longer fit in with your plans for the agency? If you think this could be a little like breaking up with your girlfriend or boyfriend (or, worse, getting a divorce), then you are not far from the heart of the situation.
How important is face-time with clients?
In the modern agency age we heavily rely on email, video chats and phone calls to communicate with our clients. Technology will speed you up and increase your productivity, but can it replace good, old-fashioned face-time to keep the fires of your client relationships burning? It depends on how you'd like to be perceived as an Account Manager.
Client-First Health Check
Did you realise that (usually) 100% of our revenue comes from our clients, and - therefore - our clients pay our wages? Once we realise this, we should begin to take all our client interactions far more seriously. One way to determine how much your are either delighting or disappointing your clients is to conduct a Client-First Health Check on your agency.
What to do if you are sick
When you plan to go on holiday you have ample time to ensure your clients and projects are well-looked after by others. When you are sick everything in your world stops, but all things in your client's world - including deadlines and requirements - keep going. If you are sick, what can you do to help mitigate the damage?
AM-Insider is all about helping YOU to be the best Account Manager you can possibly be!