Marketing in the digital era is an ongoing challenge. Companies are turning to marketing specialists to stay ahead of their competition, constantly analyzing their marketing efforts and consumer behavior so they can assess where they need to improve. In the next decade, marketing analyst positions experienced 20% faster-than-average growth, according to the Bureau of Labor Statistics.
There are many ways to get an edge in marketing in the wide-open world of online interaction. But that means dizzying choices for which tech to employ, which campaigns to create, which engagement to prioritize and how to design the most winning customer experience. Companies need seasoned professionals who know how to perform data analytics, market research, track business trends, visualize sales insights, see opportunities and determine which marketing approaches will bring the best return on investment. Marketing analysts have special skills in these areas that help companies hone their marketing to make the most of every dollar.
What a marketing analyst does
The job of a marketing analyst varies depending on the company’s needs, marketing approach and goals. At the most general level, a marketing analyst’s primary function is to study market conditions in order to inform sales strategies and assess the effectiveness of marketing efforts. The goal is ultimately to get a better sense of what products consumers want and what they are willing to pay for them, as well as how best to engage repeat customers to stay loyal.
Someone in this job may develop processes for monitoring sales trends, use surveys and other tools to gather consumer and competitor data, track and measure digital marketing efforts and follow other marketing campaigns. Marketing analysts should be able to measure outbound and inbound marketing effectiveness. It’s common for a marketing analyst to conduct research on competitors’ marketing strategies and to use statistical software to track and forecast trends. Marketing analysts can provide recommendations to upper management by preparing and presenting reports with implications for overall business goals. When not interacting with other departments, a day in the life of a marketing analyst will likely be full of creating surveys and monitoring results, doing online research and generating reports.
One important role of a marketing analyst is to provide data-based recommendations to management about marketing initiatives. Marketing analysts work with executives to improve marketing campaigns, design new directions and adopt new technologies. They serve a vital role in directing the course of business strategy.
Important skills and traits a marketing analyst should have
People who are natural problem-solvers will excel in the marketing analyst role. Those who are interested in statistics and business metrics (with psychology as a plus) will be a good match for this career that focuses both on quantitative analysis and human behavior. Successful marketing analysts will be adept at identifying new trends in the marketplace and dogged about staying on top of the latest developments in marketing and their broader industry.
Good communication skills are also indispensable. Of course, a major skill of a marketing analyst is being able to succinctly express findings and recommendations internally to management. But the ability to understand external communication, to clients and consumers alike, is also vital. Those interested in this career may want to develop social media fluency, skill in using data in creative ways and experience in designing marketing campaigns. All of these skills will be extremely valuable in this career.
Part of being a strong communicator is a facility with storytelling; a large part of marketing is about telling stories that will connect with customers. In marketing, you will need the analytical skills to parse which parts of a marketing story is hitting home and how those messages can be played up or elaborated for better results.
Most market analysts hold a bachelor’s degree, so it is integral for success in this field. A bachelor’s degree in marketing is naturally a good fit, but those who have studied political science, economics, business, psychology, sociology or anthropology will all be able to draw on their backgrounds in pursuing this career.
Yeshiva University’s Master of Science in Digital Marketing and Media program for becoming a marketing analyst
It’s a good move to prepare for a career as a marketing analyst by pursuing an advanced degree in a marketing-related field, such as digital marketing and media, brand management and marketing, public relations, marketing design or communications. Nearly one-third of marketing analysts held a graduate degree as of 2019. Combining this type of education with an undergrad or graduate education in business is a great approach, and if you lack a business background then an advanced marketing degree can bolster your experience.
The Yeshiva University (YU) online master’s degree in Digital Marketing and Media (MSDMM) at Katz School of Science and Health offers excellent preparation for a career as a marketing analyst.
The program trains students in social media marketing, SEM, SEO, mobile, email, content and video marketing methods. But good marketing analysts are also adept data analysts. The program also teaches students how to apply data-driven insights and KPIs using tools in marketing analytics such as Google Trends, Google Analytics, R and Tableau. Students get hands-on experience working with startups on marketing campaigns through the YU Innovation Lab, learning the ins and outs of marketing management. They are taught by professors who are leaders in the field and are able to build a professional network in the New York City marketing scene.
Excelling in the fast-changing world of digital marketing requires up-to-the minute training in a variety of subjects and hands-on experience designing marketing campaigns for digital-first companies. Yeshiva’s Master of Science in Digital Marketing and Media sets students up to succeed in this exciting and flourishing field. Learn more about the online MSDMM today.