How To become a relationship manager?
relationship manager work only with clients, working to solve any business or technical challenges that they face. They will help them with sales opportunities and drawing in customers. They also observe the competition to see what strategies they are using and to stay ahead of the game. Relationship management has two areas of focus: clients and business partners.
Relationship managers use data to look for trends and problems and analyze communications, contracts, and negotiations. The insights are used to refine company practices.Relationshipp Managers also have a key role in the development and execution of sales plans. They may also provide indirect feedback, based on customer experience, on the development of new products or improvement of existing services. The role of a Relationship Manager in an organization is very interesting as it involves fieldwork as well as desk duty.
Steps to become a relationship manager
Pass class 12th
Earn bachelor degree
Do an internship
Earn master degree
Take up entry level job position
Work closely with sales and customer department team
Gain 5 to 7 years of experience
You may find that experience in other jobs will help you become a relationship manager. In fact, many relationship manager jobs require experience in a role such as customer service representative. Meanwhile, many relationship managers also have previous career experience in roles such as account executive or personal banker.Since you will be working closely with customers and a sales team, any experience in customer service or sales is an advantage.
MBA or BBA
Companies generally hire management degree holders for the role of Relationship Managers.
For entry level job position bachelor degree is necessary but for manager job position MBA or master degree is preferred.
Graduation, preferably in a management course such as Bachelor of Business Administration (BBA).
A postgraduate degree course in management such as Master of Business Administration or MBA.
Since Customer Relationship Management (CRM) is part of an MBA in General Management course, it would be sufficient for this role.
Some colleges also offer an MBA in Customer Relationship Management course, which is specifically designed for this field.
Understand customer needs and develop plans to address them
Identify key staff in client companies to cultivate profitable relationships
Resolve customer complaints quickly and effectively
Forward upselling and cross-selling opportunities to the sales team
Promote high-quality sales, supply and customer service processes
Aim to preserve customers and renew contracts
Some of the top recruiting areas of Relationship Managers include:
Wealth Management Firms
Brand Retailing etc
Relationship Managers in America make an average salary of $102,207 per year or $49 per hour.
In India The average salary for a Relationship Manager in India is ₹390511.