Marketing analysts are valuable professionals supporting the marketing efforts every company needs
Marketing analysts work to help organizations decide not just how to reach a target audience, but which products and services are beneficial to offer as well. They also support decisions about product and service pricing, and help build customer profiles.
If you’re considering becoming a marketing analyst, whether you love the psychology of customer behavior or because you’re after a creative career, we can help you. Today’s rapidly changing marketing world requires talented and skilled professionals who use the latest technology and insights to develop successful campaigns. The following information can help you learn more about the marketing analyst career path.
The marketing analyst role
Marketing analysis is key for businesses to better understand and serve their customers so they can grow and stay competitive. Those in marketing analyst roles study market conditions to help companies understand what kinds of products or services people want, who will buy them, and at what price.
Using a variety of methods — including interviews, questionnaires, focus groups, and literature reviews — they gather data on consumer demographics, preferences, needs, and buying habits. Analysts also help companies understand their position in the marketplace by researching competitors and their methods.
With this data, an analyst can determine potential markets, product demand, and pricing. An analyst’s understanding of the target consumer and marketplace enables the organization to develop advertising materials, sales plans, and product promotions.
Marketing analysts also typically perform the following tasks:
Assess the effectiveness of marketing programs and strategies
Convert complex data into easily digestible tables, graphs, and reports
Present results to clients and management
Marketing analysts continually evaluate data using various statistical methods and software, interpreting what it means for the organization and forecasting future trends.
Why pursue a career as a marketing analyst?
Marketing is a diverse field that challenges a variety of your skills and requires a creative mind. It offers a wide range of other benefits as well.
It’s a creative job
Working as a marketing analyst is a data-based but creative job. While much of the work you do will focus on compiling data to be used in marketing campaigns, it also requires a creative mind capable of exploring insights into consumers. For those who like to blend statistics and math along with creative thinking, this career path can be an excellent choice.
You can work in a company or as a consultant
Many people who obtain the necessary education will work within corporate firms. In some cases, they may then move into a consulting position. This field could allow you to build your own business and work the flexible schedule you desire.
It’s a lucrative career
The median salary for a market research analyst is $63,790, according to the U.S. Bureau of Labor Statistics (BLS).
There’s a need in most fields
Most industries require market research, making this one of the most in-demand jobs in various fields. You may work in a range of industries throughout your career, or choose one that interests you the most. This includes fields such as education, consumer product development, finance, the food industry, and beyond.
There’s high job satisfaction
Many marketing analysts have a good work-life balance because they work set hours with weekends off. They also tend to have ample job security because most companies need their services. As a result, many people — whether in entry-level or higher levels of marketing research and analysis — maintain good overall job satisfaction.
Industry trends for marketing analysts
Here’s a quick look at trends in this industry according to Burning Glass Technologies.
One of the most impactful trends in marketing research has to do with immersive media — the ways consumers can become deeply engaged with content, people, products, and businesses as a whole. Focus Pointe Global notes the increasing demand for augmented and virtual reality tools that businesses are using to create a full 360-degree environment for consumers to experience. Those working in the field will need to embrace these tools fully.
Another component of immersive storytelling will be video capture. New technology allows for fast, even real-time access to video creation and interactions. Marketing analysts will need to have a better idea of how and when to use video, including for in-the-moment, geo-location data analysis, and behind-the-scenes content.
Skills in consumer behavior studies will become more important in this career. As more companies work to use consumer behavior as a driving factor for product and service development and execution, the need for more in-depth understanding of consumers will be important. The U.S. Small Business Administration lists consumer behavior as a key differentiating point for market research success.
During product research and development, the need to understand the “why” behind buying decisions is crucial. Analysts will increasingly work with behavioral scientists to create customer journeys and branding reflective of these new and ever-changing viewpoints.
Adobe, the computer software company, notes the importance of data-driven creativity within the customer experience. Analysts will need to use more data, both on a larger and a more intimate scale, to reach consumers. The focus continues to push toward the customer experience. Organizations are working to integrate data and creativity into new marketing campaigns, but also into the development of new customer solutions.
Companies will use data to better focus on all types of customers at all points in the customer journey, instead of only on the most likely or ideal customer. In this way, companies will need a more balanced focus on creatively-interpreted data that supports fast decision making.
Analysts will also find more of their skills focused on creating experiential commerce, a term that relates to crafting experiences, rather than solely products, for the customer. Analysts will increasingly work on building ongoing customer relationships through strategies that zero in on the experience a customer has when interacting with products and services.
A component of this work will focus on longer-term outcomes in relationships. Many marketing analysts work in the retail sector. In this area in particular, they will see more integrated customer experiences — through social media, online sales, and in-person events — that strive to build these long-term relationships with customers.
Although fieldwork continues to be one of the most important investments for marketing analysis, the market is seeing a move toward technology-driven research. This includes both online (e-commerce) and offline prospects for data research and development. Developing an agile process to gather data and analyze it so marketing strategy can be adapted quickly is key. This includes the use of artificial intelligence (AI), blockchain, cognitive cloud computing, and data automation.
Individuals with skills in these technological areas will be in high demand. While these skill sets are not traditional components of a marketing educational path, they can prove to be very valuable for research and development as well as for analytics in the field.
Marketing analyst jobs
From business-to-business to consumer-based companies, marketing research and analysis is a critical component of operations. Below are some of the more popular points of entry for marketing analyst jobs.
Popular career areas for marketing analysts
Online marketing analysts
Project managers for marketing companies
Marketing specialists for focus groups
Math and statistical analysts
Technology-focused marketing research analysts
Data mining analysts
Social media analysts
Sales planning optimization professionals
What are the different types of marketing analyst jobs?
Taking a job as a marketing analyst provides a range of opportunities for both those just leaving school and those with years of experience. Education, skills, and success all play a key part in determining when a person may be ready to take on a more advanced position as they move forward on their career path as a marketing analyst.
As a market analyst, you can work in numerous industries. With 738,100 people employed as market research analysts in 2019, and an additional 130,300 people expected to join the field by 2029 according to the BLS, there’s no doubt there are opportunities for you.
Selecting a specialty can set you apart from others. The key is to obtain the right amount of education to boost the demand for your skills.
Entry-level marketing analyst jobs
With a bachelor’s degree, you can pursue a variety of entry-level marketing research and analysis positions.
Marketing coordinator, $35,920
Entry-level data analyst, $36,000
Online marketing analyst, $54,590
Associate marketing analyst, $65,350
Advanced marketing analyst jobs
Those who advance their education and experience may qualify for additional, higher-level positions on the marketing analyst career path. Specialized courses may be required for some of these positions as well.
Publishing industry analyst, $75,720
Financial marketing analyst, $71,500
Corporate marketing management, $74,510 and higher
Business process analyst, $80,600
How to become a marketing analyst
The career path of a marketing analyst typically begins by obtaining a bachelor’s degree. Many marketing analysts have degrees in fields such as statistics, math, or computer science. Expertise in statistics, market research, and marketing are essential. Some analysts may also have backgrounds in business administration, social sciences, or communications.
Many people with a bachelor’s will spend about three to five years working in entry-level analyst positions before moving into more managerial roles.
Leadership roles or positions that perform more technical research may often require a master’s degree. Graduate degrees in marketing research are common among these professionals, as well as degrees in fields such as statistics and marketing, or a master’s in business administration (MBA). Specialized courses may be required for some leadership positions.
Many analysts also pursue certifications to bolster their credentials, although they are not required to become a marketing analyst. The Insights Association, formerly the Marketing Research Association, offers the Professional Research Certification for marketing analysts. Candidates must pass an exam, have a minimum of three years of experience in opinion and marketing research, and complete 12 hours of industry-related education courses.
Successful marketing analysts should be detail-oriented and possess critical-thinking skills, along with a blend of other technical/specialized skills and soft skills.
Marketing analyst skills and digital tools
Marketing analysts are expected to have an array of skills, including soft skills such as communication and teamwork, as well as technical expertise with tools such as Google Analytics. In the research discussed below, we give you insight into the fastest-growing skills and most popular tools for this career.
Fast-growing marketing analyst skills
Marketing continues to evolve into a technological, data-driven career. Here are the 10 fastest-growing skills in marketing.
The top requested technical or specialized skills in marketing:
Some of the top soft marketing analyst skills:
Many of the fasting-growing emerging skills in marketing center around machine learning and data intelligence. As this research shows, quite a few skills in these areas are poised to see triple-digit growth through 2023.
In addition to traditional software such as Microsoft Office, the following tools are frequently used in a marketing department, and you’ll likely be expected to have experience with them or be able to learn them on the job.
Facebook, Instagram, LinkedIn, YouTube
Marketing analyst internships
Landing internships are an important step in making your resume more attractive to employers. Gaining real-world experience will help you stand out among less experienced individuals on the marketing analyst career path. Examples of companies that offer marketing internships include the following.
Upon starting a career as a marketing analyst, you may want to know what options are available to further your career. In addition to education and experience, joining an industry association should be at the top of your list.
You’ll enjoy networking opportunities, be kept abreast of industry happenings, and learn about new opportunities and career paths as they develop. Some industry groups you could consider include the following.
A diverse and ever-changing career path, marketing analyst and research positions can be found in the challenging and interesting field you desire. As new data and technologies become available, more opportunities continue to open up.
As the marketing analysis field continues to grow and become more important to businesses and industries everywhere, we’re here to help you with the necessary steps toward the education you need.