How to Become a Marketing Analyst

How to Become a Marketing Analyst
Hello everyone, and welcome to our 365 Data Science special dedicated to an exciting business career - the marketing analyst profession. In this video, we’ll learn who the marketing analyst is, what they do, how much they make, and what skills and degree you need to become one. But before we begin, we just want to remind you that there are plenty of amazing career paths you can explore within the field of data science and data analytics, such as:
• Machine Learning Engineer;
• Data Analyst;
• Research Analyst… We’ll do a video just like this for each of these career opportunities and many more, so be sure to subscribe to our channel and check them out too! Alright! Now, let’s start with the marketing analyst profile.
Who are they and why are they so important for business success? Marketing is the fuel that provides power to the motor of a company - sales. Without substantial marketing efforts, organizations will have a hard time selling their products. There are various roles within marketing and each one fulfills a particular function to keep the business going at full speed. Marketing analysts tend to be some of the most hands-on professionals in a company and their role is truly versatile, encompassing a wide range of activities:
• digital marketing
• traditional/offline marketing
• brand marketing
• market research
• marketing communications
• retail marketing
• B2B marketing, and so on.
The possibilities are endless! But having said that, we need to remember that a marketer's primary goal, regardless of the channel - be it digital, traditional, or business-to-business, is to introduce a company's products and showcase their value to customers. And in today's data-rich environment, the success of a marketer is measured by their ability to leverage multiple sources of data to make informed decisions based on quantitative evidence.
A marketing analyst works closely with product owners and can be assigned to a particular product or, alternatively, to a specific channel.
For example, digital marketing analysts are usually responsible for a company's social media accounts, as well as the communication with agencies to discuss ad spend, upcoming campaigns, and amount of promotional budget that can be allocated. A marketing analyst also collaborates frequently with the sales team and provides them with valuable insight when it comes to forecasting and resources that can be spent at a given time. That’s the compact presentation of this exciting job role.
But to get a better idea of what it means to be a marketing analyst, we need to take a closer look at their typical responsibilities. So, what do marketing analysts do?
Well, for one thing, their list of day-to-day tasks is super versatile and seemingly infinite. Some typical marketing analyst tasks involve providing feedback on copy and images prepared by agencies or in-house talent and making sure that brand guidelines have been followed. They are the ones responsible for running campaigns, as well as interacting with agencies reps and communicating results to marketing managers. Quite often, a marketing analyst in a company oversees a single product or channel. This not only gives them true perspective on how the product or channel works but also reveals the dynamics that allow for more sales and an improved brand awareness among the target audience.
Does this sound like something you’d like to do? Well, you’ll probably get even more excited about the job, once you discover that it can be rewarding in terms of income, as well.
How much do marketing analysts earn? According to Glassdoor, a marketing analyst makes $54,155 on average. So, if you’re just starting your marketing analyst career, expect a median salary of $39k a year.
Of course, with experience, your annual pay can grow up to $76k! Okay! Now that you know what it’s like to be a marketing analyst, let’s explore the possible career path if this is your profession. A Marketing analyst is a great career to explore on its own but also as an entry-level position that could open the door to a Marketing Manager position… and, if you’re determined enough, you can rise through the ranks and become a Chief Marketing Officer! When it comes to job availability and demand, the marketing analyst job outlook is undisputedly strong, as companies of all sizes need dedicated marketing professionals.
 
Usually, in a smaller firm, marketing analysts have more responsibilities which allows them to gain a holistic view of all activities. In a larger organization, where marketing budgets are generally larger, they tend to specialize in a particular aspect and work on it extensively. Either way, there are plenty of opportunities across all fields, including the Consumer, FMCG, and Telecom industries. So, what are the key skills you need to apply for a marketing analyst job? We researched many job ads to discover the most in-demand tools and skills marketing analyst candidates must have.
Here’s what the data says:
• 41% of job offers emphasized on communication
• 71% mentioned Excel
• 27% required PowerPoint
• 25% cited SQL
• 19% requested Tableau
• 8% - Power BI
• And 6% - Machine learning techniques Among the other notable mentions are technologies like ERP, SPSS, Google Analytics Qlik Sense, Stata, and SAS.
Let’s elaborate on this. The numbers are very clear on one thing - every marketing practitioner needs analytics to make sense of the different figures coming from various channels, client types, and product configurations. They have to understand Hypothesis testing and A/B testing, especially if they work online, which nowadays is a must for almost everyone. Being able to manipulate data in a spreadsheet format or with a statistical package is fundamental for this profession, too.
What’s more, today, marketing professionals also need to leverage dashboard software like Tableau and Power BI to self-serve their analysis needs and make adjustments in real-time. And we’ve got you covered. We developed the ‘3-6-5 Data Science Program’ to help people of all backgrounds enter the field of data science and data analytics. We have trained more than 500,000 people around the world and are committed to continue doing so. If you are interested to learn more, you can find a link in the description that will also give you a special offer on all of our plans.
Our program offers tremendous value for someone who wants to grow as a marketing practitioner as it teaches them the foundations they need to know, and this would allow them to grow professionally faster than their peers.
Being able to make queries and extract data from the firm's database with SQL, knowing how to organize this data in pivot tables in Excel, or how to create a dashboard in Tableau, is a powerful testament to a marketer’s potential in front of management. But analyzing quantitative input is far from the only requirement of the job. Marketing analysts should exude both proactivity and passion for the brand.
Besides, as the research clearly points out, they must be excellent communicators, too.
What about academic background? In terms of academic degree, a Bachelor’s degree was quoted in 66% of the job offers, while a Master’s – in a mere 6%.
And the good news for those of you who hold undergraduate degrees and lack professional experience doesn’t stop here. When it comes to years on the job, the average expectation of employers is 3.6 years.
However, a whole 39% of jobs didn’t require any experience at all! So, that certainly gives you a good chance to land a marketing analyst job straight after college graduation. Alright! Now you’re aware of the most important aspects of the marketing analyst position, what to expect from the job, and what skills to acquire to become one. Nevertheless, if you feel like you still need additional career advice and a more detailed analysis of the career opportunities in data science – we wrote a super-comprehensive guide about this, and the link is in the description, if you want to learn more.
In the meantime, thanks for watching, and good luck on your data science journey! .
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