How to become a Marketing Analyst
There’s more to the marketing team than just the Brand Strategist, Social Media Specialist or SEO Expert. If you’re passionate about research and have an affiliation for numbers, you need to be introduced to one of the more dynamic positions in the marketing mix: the Marketing Analyst.
The role of a Marketing Analyst, or Market Researcher is to help the business make informed decisions about their market. It’s your role to determine whether to enter into a particular business sector; to refine a business idea; to solve problems; or to enable a competitive advantage, using data as your strategic decision-making tool.
This could range from looking into the amount you would price a product at, to what other businesses are doing to sell their products, and the viability of the marketing strategy. A successful marketing analyst would possess the following skills on their CV:
- Statistical knowledge and experience
- Attention to detail
- Marketing training and strategy
- The ability to interpret information effectively
- Knowledge of software such as Excel or SPSS
- Strong written and oral communication skills
That’s the beauty of the Marketing Analyst role – it’s not just about the research and analysis component, but also about the communication involved around presenting your statistical findings and the strategic thinking behind the solutions you present.
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What are the key responsibilities of a Marketing Analyst?
On any given day, a Marketing Analyst will be required to perform in three of the following areas:
Business research and analysis
Strategic business research
What are the career path prospects for a Marketing Analyst?
Job growth in this industry will be fueled by the increasing role of data in analysing consumer behaviour and market trends. This is a result of predicted employment of market researchers to jump by 19% between 2014 and 2024. 1
Your career path prospects are spread out over a range of industries – from healthcare and biotechnology, to advertising agencies and consulting.
Work experience in this position will allow you to move into the following roles:
- Assistant Brand Manager
- Senior Brand Manager
- Management Analyst
What is the potential salary for a Marketing Analyst?
You have a real opportunity to increase your earning potential within the first five to ten years of working in the role of a marketing analyst. The two skills that will make the biggest impression on employers are competencies in SAS and SQL.
Click on a country to see what you can expect to get paid as a Marketing Analyst in either South Africa, the United Kingdom or the United States of America:
What are the education and training requirements for a Marketing Analyst?
As with most jobs, there is a minimum education requirement for entry-level positions, and more complex requirements for those aspiring Marketing Analysts who want to specialise in this role.
A Bachelor’s Degree in Business Administration with a specialisation in Marketing
Through this degree, your coursework should teach you about applied decision methods for business, strategic management, statistics and electronic commerce.
Employers will expect you to walk away from your degree with the ability to:
- Analyse data and communicate findings
- Develop strategies for various business environments
- Provide solutions or recommendation to improve marketing campaigns
- Identify market segments, estimate customer demand and position products in relations to these findings
A continued education
The marketing industry is always evolving as new techniques and tools emerge. As a result, one of the most important ways of staying relevant in the field is to continue learning and add to your current degree by studying a marketing course to further your marketing training.
More technical positions in this field may also require a Masters in Marketing or an MBA.
Which skills do you need next?
Download a course prospectus to find out how one of these online short courses can help you become a Marketing Analyst.