What is marketing analytics? To put it simply, it is the study and analysis of marketing effectiveness. Essentially, someone with a career in marketing analytics studies the market and helps companies decide how to most effectively price, market and ultimately sell products. As competition and digital have changed the marketplace, it is crucial for businesses to have a keen understanding of what they are up against.
As marketing data analytics becomes more important for business success, companies are looking for marketing analysts to help them navigate the market. As such, marketing specialists are in demand. According to PwC, “The 2020 estimate calls for 2.7 million job postings for data science and analytics roles." Additionally, the national average for a marketing analytics salary is $62,829 according to Glassdoor.
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If you are data-driven, detail-oriented, and passionate about marketing, then you may find success with marketing analytics jobs.
Marketing analysts tend to be data-driven and detail-oriented. As there is a heavy emphasis on math, these individuals also possess a strong skill set in the science of statistics. Also, marketing analysts must possess skills in other areas:
Marketing analysts tend to work for market-research firms. However, they may also be employed by consumer project groups and advertising agencies. The job requirements will vary depending on where they are employed. While the job description will vary from place to place depending on the job title and requirements, here is a list of general marketing analysts’ responsibilities:
In order to have a career in marketing analytics, one must have a bachelor’s degree. While it is best to earn a degree in marketing analytics, there are multiple educational pathways for entering this career field.
As there are few schools that offer a BS in marketing analytics and the job is in high demand, it is possible to obtain a job as a marketing analyst with a degree in a different field. However, employers will be looking for degrees that demonstrate a strong knowledge of statistics, data, and marketing.
You could also pursue your certification in marketing analytics.
Those pursuing a career in marketing analytics should also consider taking a marketing analytic course or applying for marketing analytics internships. The more direct marketing analytical knowledge you possess, the more likely you will be hired.
As the field is continuously evolving, it is also imperative for marketing analytical professionals to stay up to date on the latest trends. For instance, there are several online marketing analytics courses, such as LinkedIn Learning, you can take on your own time to increase your knowledge. While you will not earn a degree from these courses, they can often be added to a resume or used to obtain certification. To help you find marketing analytics courses and those offering certification, start with Robert Stanley’s list of The Top 50 Marketing Analytics & Data Analysis Certifications & Courses. You can also expand your knowledge base by reading marketing analytics books, such as R for Marketing Research and Analytics by Chapman and Feit. You can also read popular blogs about the latest trends in marketing analytics, such as predictive analytics marketing.
Additionally, you can attend the yearly Marketing Analytics Conference (MAC) hosted by the Data and Marketing Association (DMA) that includes keynote speakers, networking events, workshops, and breakout sessions all designed to help you develop professionally in the field of marketing analytics.
While obtaining marketing analytics certification is not required, it is strongly recommended. Fortunately, there are certification courses individuals can take. Additionally, there are professional certification options for those interested in becoming marketing analytics professionals.
For instance, the International Institute of Market Research and Analytics (IIMRA) is the largest market research organization, and it offers a Certified Market Research Analyst (CMRA) certification. This certificate is for those beginning their careers in marketing analytics and is a giving to candidates who pass a knowledge-based exam. Holding this certificate shows the individual is proficient in the field.
Marketing analytics is a lucrative career field. The national average for a marketing analytics salary is $62,829 according to Glassdoor. Here is a quick comparison of marketing analytics salaries across the US (according to Glassdoor):
If you advance in this career, you should anticipate earning a higher salary. For example, the national average marketing analytics manager salary is $75, 014 with salaries reaching $105,000.
If you are drawn to numbers and data, then the marketing analytics industry could be a great place to search for a career. Since marketing analysts are in demand and there are various pathways available, it is possible for you to begin this career straight out of college or later as a career change. To find the best marketing analytics jobs, you should plan to pursue classes and certification that show you are extremely knowledgeable in the fields of marketing, analytics, statistics, and research.
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