What is the Account Executive's role in a SaaS company?
If you're a SaaS company, an Account Executive is your number one cheerleader. They're the person who sells. They have to be able to close deals by demonstrating how your product solves your prospects' problems. They're your public face and go-to salesperson (plus they're usually in charge of handling customer support). They're the ones who just signed a $500K deal, you can trust them to close the next one.
The Account Executive is often a part of your sales team that gets charged with ensuring that your product makes it into the right hands. The ‘right hands’ in this case usually belong to an executive. In some cases, your Account Executive must be willing to have a conversation with an executive about how this executive can help your company grow.
What is the Account Executive's role in a SaaS company?
1. New Customer Acquisition
When a client comes to you, they are likely unaware of the different products to solve their needs. It is your job is to demonstrate how your product has helped current customers with their problems.
As an Account Executive in a typical SaaS company, you are in charge of winning new clients and getting them to proceed through the sales funnel.
However, it is also your responsibility to ensure that sales solutions help you and your fellow sales reps to close deals efficiently. As an AE, you will advise team members about the best sales solutions for their overall needs.
2. Support Fulfillment
As an Account Executive, you must be able to identify when a prospect is ready for the next step in the sales process, and then guide them through it. If a prospect is not quite ready for your product, then you must know how to educate them on it.
3. Understanding The Client's Needs
As an Account Executive, you must be able to listen, understand and adapt to the client's needs, regardless if they are enterprise or smaller clients. AI opens up new ways for SaaS companies to target a larger audience than just big businesses.
4. Account Management
As an Account Executive, you must be able to maintain a relationship with your clients and prospects to identify their needs and provide solutions.
5. Revenue Growth
It takes time to develop a relationship with your client and sell them your product at the right time. You must be able to listen, guide, and communicate with your clients to identify the best times to gain traction.
6. Prospecting
Sales reps must build a relationship with the client to identify their specific needs. This means probing for information about their industry, business, and competition. As an Account Executive, you must be able to use this information as well as the expertise of team members to determine what clients need most and push for it.
7. Close Sales
When a client comes in, you can determine if they are ready for your product. Then, you will help get the client to not only accept your product but also understand the benefits and how it will help them. This way, you are able to close deals.
8. Follow-Up
After gaining a sale from your prospect or client, you must be able to keep in contact with them. This is an important part of building your relationship with them and maintaining their needs for your product or services.
9. Referrals
It is important to make sure you are building relationships, not only with your current clients but with all of your previous clients as well. As an Account Executive, you must be able to build relationships with your customers and use the referral system to gain new ones for your company.
How Much Do SaaS Account Executives Make?
SaaS Account Executives make an average of $138,602 per year. This is about 6%-12% of the total revenue of the company they work for and can be either hourly or salaried with a commission on top.
However, there are significant variations depending on location and experience level. To become a SaaS Account Executive, you'll need strong negotiation skills, good communication skills, and a high-level understanding of business fundamentals. It's also important to know how to close deals because this will determine your success in this industry.
Related article: SaaS Sales Jobs
Want To Start Working in SaaS Sales?
All of these aspects are important for Account Executives, and each one plays an important part in the sales cycle. Are you excited about a career in SaaS Sales?