Account Manager vs. Product Manager: What Are the Differences?

Both account managers and product managers are responsible for developing and maintaining relationships with clients. They also work to ensure that their company’s products or services meet the needs of the client. However, there are several key differences between these two job titles. In this article, we discuss the similarities and differences between an account manager and a product manager. We also provide information on the skills and education needed for each position.

What is an Account Manager?

An Account Manager is responsible for maintaining relationships with existing customers and developing new business opportunities with potential customers. They work closely with other departments within the company to ensure that the customer’s needs are being met and that they are satisfied with the products or services they are receiving. Account Managers typically create and deliver presentations to customers, as well as create proposals and contracts. They also conduct market research to identify new business opportunities and ways to improve the company’s products or services.

What is a Product Manager?

Product Managers are responsible for the strategy, roadmap and features of a product. They work with cross-functional teams to bring a product to market. They work with designers, engineers, marketing and sales teams to ensure that the product meets the needs of the customer. Product Managers are also responsible for the financial performance of the product. They work with the finance team to set pricing and track revenue and profitability.

Account Manager vs. Product Manager

Here are the main differences between an account manager and a product manager.

Job Duties

Product managers and account managers may have different daily job duties, although some of their tasks may overlap. An account manager may manage an entire client relationship for a particular company. This means they may perform tasks like researching the market for that company, determining what products or services the company needs and then providing solutions for those needs.

Product managers may focus more on the product itself. They may research the market to determine what features a product should have, work with engineers to decide how to implement those features and ensure that the product is marketed effectively to customers.

Job Requirements

The job requirements for account managers and product managers vary depending on the company they work for. However, most companies require account managers to have a bachelor’s degree in business administration, marketing or a related field. Additionally, many companies prefer candidates who have previous experience working in customer service or sales. Product managers typically need a bachelor’s degree as well, but their educational background might be in engineering, computer science or another technical field. Many product managers also have a master’s degree in business administration or a related field.

Work Environment

Account managers typically work in an office setting, but they may travel to meet with clients. They also spend time on the phone and emailing clients to discuss their needs. Product managers usually work in an office environment, but they may travel to attend meetings or visit manufacturing facilities. They often spend long hours working on projects and collaborating with teams to develop products.

Skills

The specific skills used on the job by account managers and product managers can differ depending on the company they work for and the products or services they are responsible for. However, there are some similarities between the two roles. Both account managers and product managers need to have excellent communication skills in order to interact with clients and customers, as well as other members of their team. They also both need to be able to effectively manage time and prioritize tasks in order to meet deadlines and achieve goals.

One key difference between account managers and product managers is that account managers typically need to have sales experience in order to be successful in their role. This experience can help them build relationships with clients and understand their needs. Product managers, on the other hand, often benefit from having a background in engineering or design. This knowledge can be helpful when developing new products or making improvements to existing ones.

Salary

Account managers can earn an average salary of $75,495 per year, while product managers can earn an average salary of $98,439 per year. Both of these average salaries may vary depending on the size of the company at which you work, location of your job and the level of experience you have prior to pursuing either position.