Marketing is the fuel that drives organizations’ engines! Marketers play the significant role of modern storytellers, with the skill to identify target audiences and market products. They’re the experts who help companies decide what products will hit the market and at what price. 

Instead of relying on guesswork, organizations use data to analyze and build strategies for improving their processes. When it comes to marketing, a marketing analyst analyzes this data to improve marketing efforts – plan budgets, and target the right audiences. 

If you’re looking to get started as a marketing analyst, here’s how you need to get started. 

Significance, Roles and Responsibilities 

The core responsibility of a marketing analyst is to analyze the data, identify new findings and utilize skills to improve marketing strategies. Marketing experts can also browse through surveys to understand different views on sales, consumers and competitors. These insights can provide detailed information about competitors’ marketing strategies.

Quite often, marketing analysts oversee a single product and focus on improving brand awareness to the target audiences. 

Gather Data and Conduct Market Research

As a marketing analyst, their core duties involve providing recommendations from multiple sources of information. 

Gather Data and Conduct Market Research

1. Data from the organization’s marketing surveys.

  • Evaluate marketing campaign metrics.
  • How many customers signed up for loyalty programs?
  • How many users clicked on the ads published on the campaign?

2. Customer data.

  • Data gathered directly from the customer.
  • Data gathered from aggregate sites – second and third-party data.

3. General market research data.

  • Customer buying trends.
  • Purchasing behaviors.
  • Data gathered from the market. 

Data Analysis

Analyze and interpret data by asking relevant questions and looking for patterns and trends to better structure their marketing strategy. As a marketing analyst, you must have experience working with marketing tools such as HubSpot, platform analytics on Google, Salesforce or even statistical tools like R and Tableau

These tools help transform data sets into data visualization graphs or charts to understand the data better. 

Communicate Results

With insights provided in the form of data visualization charts, the analyst will communicate their findings to the stakeholders, marketing and leadership team. The report provides an overview of analyzing which marketing efforts were successful and which weren’t.  

Marketing Analyst Job Outlook

With data becoming an important component of business strategy, the marketing analyst role will always be in high demand. According to the United States Bureau of Labor Statistics, marketing analyst roles are growing at 19%, much faster than other occupations. As per Glassdoor, a marketing analyst’s salary ranges between $104,493 and $168,666 (average).

Skills Required To Become a Marketing Analyst

Skills Required To Become a Marketing Analyst

There are certain skills required to become a marketing analyst, including communication skills and creativity. 

Foundational Marketing Knowledge 

As a marketing analyst, you need to understand the basic foundation, principles and practices of marketing. 

  • How to market/promote a product?
  • Which channels to use?
  • Which audience to target?
  • How to run campaigns?

Data Analytics

For someone working with trends and insights, they must possess the knack for understanding data.

  • How to analyze data?
  • How to use analytics?
  • The basics of statistical analysis, modeling, and forecasting.

Research 

Research plays a vital role in marketing. As a marketing analyst, the expert must know the in and outs of marketing.

  • How to conduct market research?
  • Understand customer buying habits.
  • Analyze customer tactics.
  • Methods to track customer behavior and preferences. 

Communication and Storytelling

Communication and Storytelling

As a marketing analyst, you will have to engage with stakeholders and leaders on a daily basis. Therefore, it’s essential to have the ability to clearly and effectively communicate your findings in a way that is easily understood.

How To Get Started

Becoming a marketing analyst shouldn’t be a challenge. Follow the below steps and get started.

Earn a Degree

The core route to getting started is always education. Without the right degree it may take a longer route to become a marketing analyst. 

Candidates can begin by getting a bachelor’s degree in business administration, psychology or marketing. A major focus can be given to skills such as statistics, market research and statistics; however, this is not mandatory. 

Certifications

To expand your marketing skillset, you can always choose a credible certification program. Earning a certification expands your marketing analysis skillset and attracts potential employers. Though not mandatory, having a certification or two on your resume could show employers that you’re eager about your job. Below are a few certification programs to consider.

Conclusion

There is no better time than now to get started as a marketing analyst. Every organization needs professionals to drive and market its products. Grab a degree if you’re just getting started. However, if you’re a working professional, opt for online certification programs highlighted in the article. Make sure to check the credibility and reviews before enrolling yourself in a specific program. 

Categorized in:

Advertising, Career,

Last Update: November 14, 2024

Tagged in: