WVU Online | Wednesday, October 16, 2024
Knowledge of business administration principles
Behind a company’s spot-on recommendations and perfectly-timed ads is a marketing
analyst whose job it is to understand their customer base.
They take on a dynamic role that blends storytelling and the science of numbers to decipher data, find hidden patterns, and provide insights that shape future marketing campaigns.
If you're a student exploring career options or someone looking to switch gears, a marketing analyst may be the perfect fit for you. Learn everything you need to know about this growing field, from the skills and qualifications required to the steps you can take to get started.
UNDERSTANDING THE ROLE OF A MARKETING ANALYST
A marketing analyst studies market conditions to determine how well products or services might sell, giving companies valuable insights to guide their strategies. They analyze data to uncover what consumers want, how they behave, and what competitors they have to achieve actionable insights and forecast future market trends.
Marketing analysts play a crucial role in helping businesses understand their
market and make informed decisions. Marketing analysts are at the heart of
a company’s strategy and growth, but what exactly do they do? Some of their
responsibilities include:
- Data collection: Gathering information from surveys, focus groups, and market reports
- Data analysis: Using tools and software to interpret data
- Reporting: Summarizing findings in reports and presentations
- Market research: Investigating market trends, customer preferences, and competitor activities
- Trend identification: Spotting and predicting future market trends
- Strategy development: Helping to shape marketing strategies
- Performance measurement: Evaluating the effectiveness of marketing campaigns
If you were to look into a day in the life of a marketing analyst, you would see their responsibilities at work.
They may start the day reviewing KPIs and market trends or cleaning up data sets, followed by meetings with their team to discuss upcoming projects and how to coordinate best with other departments. Next, they could analyze the latest project data to draft data reports and strategic plans to present their finding to their team or executives.
Entry-level marketing analysts may focus more on data collection and basic
analysis with direct supervision, while a mid-senior-level position may require
more complex analysis, strategic planning, and authority in decision-making.
SKILLS & QUALIFICATIONS
Becoming a successful marketing analyst requires combining technical skills,
analytical abilities, and a deep understanding of market dynamics. Hiring
managers will look for candidates with these specific skills and qualifications,
which will make them an asset to their company.
Analyzing data for marketing campaigns
Marketing analysts must know how to analyze data that comes from various marketing
campaigns. This involves:
- Data interpretation: Understanding and interpreting data to derive meaningful insights
- Statistical analysis: Using statistical methods to identify patterns and trends
- Data visualization: Presenting data in a clear and actionable manner through charts and graphs to show connections in collected data
Critical thinking and problem-solving skills
The ability to think critically and solve problems is essential. This includes:
- Analytical thinking: Evaluating data and scenarios logically
- Problem-solving: Developing solutions based on data insights
- Decision making: Making informed decisions to improve marketing strategies
Understanding the target audience and their needs
Understanding the
target audience is crucial for creating effective marketing strategies.
Key aspects include:
- Demographic analysis: Identifying key demographics and tailoring strategies accordingly
- Consumer insights: Gaining insights into consumer behavior and preferences
- Needs assessment: Understanding and addressing the needs and wants of the target audience
Proficiency in social media platforms
Social media management and proficiency are vital for modern marketing analysts. These skills include:- Platform knowledge: Understanding various social media platforms and their unique features
- Engagement strategies: Developing strategies to engage with audiences on social media
- Analytics tools: Using tools to measure and analyze social media performance
Knowledge of business administration principles
Understanding business administration skills helps align marketing strategies
with business goals. This includes:
- Strategic planning: Developing long-term marketing strategies that align with business objectives
- Budget management: Managing marketing budgets effectively
- Operational understanding: Understanding how different departments contribute to marketing success
Conducting market research
Market research skills are foundational for a marketing analyst. This involves:- Research methods: Knowing various research methods such as using surveys, focus groups, and interviews
- Competitive analysis: Analyzing competitors to identify strengths and weaknesses
- Market trends: Keeping in tune with market trends to anticipate changes and take advantage of opportunities
Understanding consumer behavior
A solid grasp of consumer behavior is essential to predict how consumers will respond to marketing efforts. Key components include:- Psychology of buying: Understanding what motivates consumers to make purchases
- Behavioral data: Analyzing data on consumer behavior to identify patterns
- Customer journey: Mapping the customer journey to improve the overall experience
Education and Degrees
If you want to become a marketing analyst, there are programs and certificates
that will help you get the skills you need to succeed and land the job.
You’ll want to learn about your options and determine which path best fits
your career goals.
Bachelor’s degree
A bachelor’s degree in marketing or a related field is typically the starting
point for a career as a marketing analyst. This foundational degree provides
essential knowledge in marketing principles, consumer behavior, and data
analysis. For a comprehensive program, consider pursuing a bachelor's degree
in integrated marketing communications.
Master’s degree
For those looking to advance their career or specialize further, a master’s
degree in marketing or business administration is highly beneficial. This
advanced education deepens your understanding of strategic marketing, data
analysis, and business management.
Our Master’s Degree in Data Marketing Communications is the first of
its kind as the nation’s first online master’s degree explicitly focused
on the strategic use of data in marketing communications.
Certificates and alternative credentials
In addition to traditional degrees, various certificates and alternative
credential programs can enhance your qualifications and make you stand
out in the job market — plus, they are typically a shorter time commitment
and the most cost-effective choice.
These programs provide specialized training and are recognized by employers:
- Digital and Social Media Graduate Certificate: Focuses on digital marketing strategies and social media management
- Data Marketing Communications Graduate Certificate: Offers in-depth knowledge of data-driven marketing strategies
- Business Data Analysis Graduate Certificate: Provides expertise in analyzing business data for strategic decisions
Marketing Analyst Job Outlook and Career Path
As data-driven decision-making becomes increasingly important in business,
there is a growing demand for marketing analysts.
According to the U.S. Bureau of Labor Statistics, the employment
of market research analysts, which includes marketing analysts, is
projected to grow by 13% from 2022 to 2032, much faster than the average
for all occupations.
Accordi
ng to a
report from the World Economic Forum, data and analytics roles
are some of the top emerging jobs, highlighting skills in data analysis,
digital marketing, and consumer insights. Companies industry-wide continue
to rely on data and analytics to improve their company growth, so the
need for marketing analysts is expected to remain high. In this field,
there is also room for career advancement, and these growth opportunities
can be achieved in various ways.
- Level up in your role: You may start in an entry-level marketing analyst position to build up your skills, but with experience, you can advance to mid-level roles like a Senior Marketing Analyst or a Marketing Manager, allowing you to take on more complex responsibilities. From there, you can move up to leadership positions such as a Marketing Director, Chief Marketing Officer (CMO), or Director of Analytics, where you can oversee strategies, manage teams, and influence company decisions.
- Choose a specialty area: By choosing an area of expertise to specialize in, you may be more hireable and an essential piece to a marketing team. Specialty areas like digital marketing, consumer behavior, or market research can open doors for niche roles and help you stand out from a stack of resumes.
- Support outside clients: After securing real-world experience, some marketing analysts will transition into consulting roles where they can apply their experience and focus on identifying issues, forming hypotheses, and helping improve strategies. They may even start their own marketing firms to offer their expertise to various businesses.
Steps to Become a Marketing Analyst
Becoming a marketing analyst involves a combination of education, practical
experience, and skill development. Each stage is crucial in preparing
you with the knowledge and abilities needed to thrive in this field.
Pursue an undergraduate degree or certificate in marketing or related field
To start a career as a marketing analyst, an undergraduate degree in
marketing, business, or a related field is an essential first step.
You will learn about marketing principles, consumer behavior, and data
analysis techniques.
Programs like our Bachelor’s Degree in Integrated Marketing Communications
are designed to give you the toolbelt you need to succeed in the role.
Those interested in specialized knowledge should consider certificates
in digital marketing or business data analysis to enhance their qualifications.
Gain practical experience in the field
Hands-on experience will be your next step in transferring academic learning
to real-world application. Internships or entry-level roles are a great
way to build your practical data collection, analysis, and reporting
skills. Internships offer valuable exposure to industry practices and
help you develop a professional network. You’ll also be able to work
on projects or case studies during your internship, which can help
you build a portfolio to showcase your abilities to potential employers.
Develop technical skills in data analysis and research
To become a marketing analyst, you’ll also want to become proficient
in data analysis and research tools. Gain skills in statistical software
such as Excel, SPSS, and Google Analytics. It is important to understand
how to use these tools to interpret data, create reports, and make
decisions based on the data you find.
Online courses and certification programs are also available to enhance
your technical skills. Resources like
HubSpot Academy and
Google Analytics
offer valuable training.
Consider pursuing a master’s degree for advanced positions
A master’s degree in marketing, business administration, or data analytics
can benefit those aiming to advance their careers or specialize further.
Advanced degrees provide deeper knowledge of strategic marketing, data
analysis, and business management, positioning you for higher-level
roles.
Explore programs such as the
Master’s Degree in Data Marketing Communications
to see how further education can strengthen your career prospects.
Apply for marketing analyst positions
Once you have the necessary education, experience, and skills, you’ll
want to tailor your resume and cover letter to highlight your relevant
experience, technical skills, and any projects or internships you’ve
completed that demonstrate your expertise. To find your first marketing
analyst position, you can use job search platforms, company career
pages, and networking opportunities to find roles that align with your
career goals.
Start Your Marketing Analyst Career at WVU Online
If you want to pursue a career as a marketing analyst, a solid foundation
starts with education. WVU Online offers a range of programs designed
to prepare you for success in this field.
Our Bachelor’s Degree in Integrated Marketing Communications offers essential
marketing principles and data analysis techniques. For advanced education,
explore the Master’s Degree in Data Marketing Communications.
You can also enhance your skills with one of our certificate programs,
like the Digital and Social Media Graduate Certificate, Data Marketing Communications Graduate Certificate, or Business Data Analysis Graduate Certificate.
Connect with an admissions coach to explore your options and get
guidance on the best route for you. Your coach can help you on your
journey toward becoming a marketing analyst.