Career Opportunities for AE’s in Chicago
Chicago Is Made For Account Executives
Chicago is a perfect city to nurture an ambitious career in SaaS, fintech, and innovative technology sales, thanks to a combined expansion of tech enterprises and a rich sales environment.
When tech businesses arrive in Chicago —especially after spending time in expensive coastal areas—they find Chicago to be incredibly supportive. Many information technology professionals benefit from Illinois’ flat-rate income tax. For businesses, Chicago office space costs about half as much as it would in places like San Francisco or New York City.
Chicago’s IT sector has grown by almost 20% over the past several years, which is not surprising given that the city has a cheaper cost of living than other tech hubs.
Why Live in Chicago?
Chicago is the most populated city in Illinois and the third-most populous city in the United States. One of the most influential cities in the world, the Chicago metropolitan region is a terrific place to live and is regarded as one of the top locations to live in the state.
Chicago has a long history and a unique, welcoming culture. It is a city with some of the best cuisine in the country, storied sports franchises, and an indispensable center for American music, art, dance, and comedy.
Situated in the Midwest and Great Lakes areas of the United States, Chicago offers its citizens first-rate amenities and dependable public transit to assist them in city living. Tech sales professionals that end up in Chicago immediately learn what a welcoming, friendly city it is.
Tech Growth and Careers in Chicago
Experienced Account Executives looking at Chicago can find employment with a wide range of tech-related companies, including fintech, IT, communications, and tech development. The wealth of opportunities will allow AEs to achieve considerable personal and professional growth, which could lead to more advanced tech sales careers.
The Chicago Tech Effect report from the Chicagoland Chamber of Congress indicates that over the last ten years, Chicago’s technological environment has increased by 18%. In addition, around 8% of Chicago’s workforce is employed in the city’s tech industry, which also accounts for 87% of all new jobs produced in the area over the past ten years.
Chicago is fostering upward mobility and greater economic equality than many other US regions because the median wage in the tech ecosystem is one and a half times higher than the median wage for the whole economy. In addition, the city attracts many people because almost half of Chicago’s tech sector jobs are in non-technical positions like sales and support.
What Are an Account Executive’s Duties and Responsibilities?
Many firms depend on AEs as they generate a sizeable portion of the company’s revenue and act as its public face to clients.
Their primary responsibilities may include:
- Having a thorough understanding of the product or service being sold
- Following up on leads that SDRs have provided
- Quarterbacking deals through education, demonstration, and contract signing
- Maintaining communication by phone, e-mail, and voicemail
- Preparing for sales meetings by doing research and producing sales decks
- After closing deals, nurturing and developing clients while looking for opportunities to upsell or cross-sell
- Attracting new clients and maintaining old ones
- Submitting fresh pitches to boost sales
- Assist with the training of new SDRs and new Account Executives
- Creating sales reports
- Attending team and department meetings
A Typical Day as an Account Executive
What does a day-to-day rundown of an Account Executive’s tasks look like? Here’s a summary of what an AE’s primary daily responsibilities tend to be at most tech businesses.
Closing sales - After receiving leads from SDRs, AEs meet with the prospects, demonstrate their company’s products or services, and fine-tune the pitch to meet their needs. This is all working toward closing the deal and registering sales.
Nurturing accounts - Account Executives also seek out and create opportunities to increase business with current clients. Successful AEs don’t wait for a customer to ask. Instead, they actively look for ways to meet a client’s developing needs.
Maintaining customer satisfaction - AEs regularly ask clients for feedback on the company’s performance as their vendor. This way AEs can learn more about the customer’s feelings toward the vendor—both positive and negative—and allow the AE to improve relations and guarantee customer retention.
Countering the competition - AEs must also ensure rival companies don’t poach clients. This can mean researching ways a rival might succeed and then working with your teams to counter that, whether it’s more engagement with the client, prompt service, or an improved product.
What Are the Key Metrics for Success in This Role?
Account Executives are usually evaluated on their ability to close sales, hit quotas, and retain clients. Typically, quotas are set by the month or the quarter. They include targets for the number of deals closed or achieving a predetermined revenue amount.
A part of an Account Executive’s performance bonus or commission may be based on customer retention and the ability to close deals with desirable clients. Other factors for bonuses include customer satisfaction with the quality of service, retention length, and how many upselling and cross-selling opportunities are taken advantage of.
To learn more about Account Executive roles in Chicago, sign up with Rainmakers today to get started on your path to success.