This article covers all you need to know about becoming a marketing analyst, including information on marketing analyst degrees and several in-demand marketing analyst career paths.
Marketing analysis is frequently an important component of a successful corporate campaign, from obtaining customer information to recognizing market circumstances. So important that several colleges and institutions now offer degree programs in marketing analytics. And so important that the US Bureau of Labor Statistics (BLS) predicts a 22 percent job growth rate for marketing analysts or marketing research analysts as the BLS calls them, over the next decade.
Marketing analytics skills have increased by 46.1% after the COVID-19 epidemic. Marketing analysts were ranked sixth on the list of the fastest-growing marketing occupations in June 2022.
Marketing Analyst Qualification:
According to the BLS, a bachelor’s degree is required to operate as a market research analyst, while a master’s degree may be necessary for some circumstances. A master’s degree, for example, may be desirable for people seeking senior management or executive jobs directing marketing research procedures and systems. More than two-thirds of marketing analyst job advertisements require candidates to have a bachelor’s degree.
At the bachelor’s degree level, you would likely seek a bachelor of science in marketing analytics. Alternatively, you could enroll in a bachelor of science in the marketing program, which includes classes like marketing research, marketing analytics, applied marketing research, market research, and consumer behavior. These are some of the online programs you can learn the in-demand analytics tools such as Learnbay’s data analytics course, designed in association with IBM.
Some bachelor’s degrees and certification programs offer practical experience through an internship or a project-based practicum. In a practicum, you will use analytics tools, and your knowledge of marketing concepts learned throughout the curriculum to solve real-world marketing problems encountered by firms.
Marketing analytics master’s degree programs appear to be increasingly commonly available. The majority of these lead to a master’s degree in marketing analytics. A data science course could include marketing analytics as a specialty Data mining, predictive analytics, advanced marketing analytics, customer analytics, digital marketing analytics, and marketing management are some of the more advanced courses in a master’s degree program curriculum.
Some master’s degree programs additionally include internships. Furthermore, as a master’s degree student, you may have the opportunity to attend guest speaker events, network with marketing analytics professionals, and collaborate on group projects with other students. Joining a professional student group, such as one in marketing analytics or digital analytics, found at various colleges and institutions, could also help you fund your graduate education.
How to Work as a Marketing Analyst?
An appropriate bachelor’s degree in marketing research analysis or marketing is usually required to start a career as a marketing analyst. Some entry-level roles in this industry may accept candidates with a marketing analytics certificate, often a 12- or 13-credit curriculum that includes introductory business, marketing, data visualization, and analytics subjects. However, promotion to mid-management positions normally necessitates a four-year degree.
Other courses that could help you prepare for a career as a marketing analyst, in addition to business and marketing, are data science, computer science, statistics, mathematics, and communications.
Many digital marketing bootcamps cover marketing analytics as well. Bootcamps are a great opportunity to acquire new technologies and develop abilities in marketing analytics, strategy, and management quickly. Digital marketing bootcamps are accessible online or in person at some schools and universities, continuing education departments, workforce programs, educational technology businesses, and educational services companies.
Visit the popular IBM data science certification course, to know more about the course curriculum.
What Is the Role of a Marketing Analyst?
Marketing analysts mostly employ surveys and questionnaires to assess customer behavior, examine marketing strategies, and assess market circumstances. However, being a marketing analyst entails more than just acquiring and analyzing data about consumers and marketplaces.
A marketing analyst’s other responsibilities include the following:
- Projecting sales.
- Monitoring sales trends.
- Researching rival activity.
- Establishing pricing strategies.
- Preparing management reports.
- Gauging customer satisfaction.
Job Duties of a Marketing Analyst:
- Responsible for tracking, reporting, and evaluating marketing activity performance, ad hoc analytic requests, and the development/automation of regular reports.
- Uses database queries (SQL, Access), spreadsheet (Excel) models, web analytics tools (Adobe / Omniture), statistical analysis tools, and campaign management software tools to analyze external and internal customer data.
- Evaluates online customer behavior and provides insights and recommendations to improve the visitor experience.
- Analyzes A/B and Multivariate testing reports findings and makes recommendations.
- Creates PowerPoint presentations for other marketing and sales teams to provide market and customer information.
- As the knowledge owner for customer and market data advises other marketing functions (e-commerce/website, online/offline advertising, brand, and product development).
The Marketing Analyst assists with marketing accounts, relationship maintenance with insurance business partners, and market insights/trends.
- All assigned accounts must be marketed.
- Others’ marketing work product is peer-reviewed.
- Coordination of service delivery on allocated accounts, including initial placement and renewal strategy development.
- Cultivates good relationships with insurance industry partners, is responsible for understanding carrier criteria and characteristics, and has in-depth knowledge of at least one insurer.
- Creates and distributes periodic reports.
- Looks for ways to improve the company, Business Segment, and processes. Brings concerns and inconsistencies to the notice of the relevant leadership.
- As needed, acts as a mentor to coworkers.
- Special projects are completed when assigned.
Marketing analysts typically need creative, communication, organizational, technological, analytical, critical thinking, attention to detail, and leadership skills.
There are several job pathways available in the subject of marketing analysis. For example, one could specialize in a particular area, such as social media, or work as a marketing specialist, using data from marketing analysts to design new products and raise brand awareness. Marketing analysts may also hold the following positions:
- Product analyst: assesses product performance and recommends ways to meet sales projections.
- Creates and implements plans to boost a company’s online presence, promote online services, and increase traffic to a company’s website.
- Marketing campaign analyst: is in charge of developing marketing and campaign strategies.
- Product manager: oversees the process of creating, manufacturing, distributing, marketing, and selling new products.
Get started Now:
Working as a marketing analyst allows you to address a variety of intriguing business sectors every day, such as monitoring marketing platforms, crunching figures, generating reports on completed marketing campaigns, and forecasting future marketing projects.
Job requirements may differ depending on the industry. Furthermore, upper-level occupations may require staff management, whilst lower-level positions may necessitate increased workplace responsibility. Individuals that are interested in the mathematical part of marketing and converting consumer data into profit can find a place as marketing analysts. So register in the data science course with placement, master the skills and become a certified marketing analyst.