Marketing Analyst Job Description, Skills and Salary
Are you searching for a marketing analyst job description? Get to know about the duties, responsibilities, qualifications, and skills requirements of a marketing analyst. Feel free to use our marketing analyst job description template to produce your own marketing analyst job description. We also provide you with information about the salary you can earn as a marketing analyst.
Who is a Marketing Analyst?
A marketing analyst is a person who studies a data company’s marketing operations. The marketing analyst’s findings may be used to assist a corporation in making better business decisions, such as raising revenue or optimizing marketing efforts. A marketing analyst uses data to help a company discover fresh marketing insights.
Marketing analysts assist businesses and organizations in determining which items and services to market, to whom, and at what price. They arrive at their opinions through researching market conditions, competitive conduct, and consumer behavior.
Marketing analysts collect data using interviews, questionnaires, surveys, focus groups, polls, and literature reviews. These tactics help marketing data analysts better understand a company’s target customers and determine the best marketing approach to reach them. They may suggest a certain sales approach, marketing materials, or promotions based on their findings.
Being a marketing analyst necessitates the acquisition of specific talents. Marketing analysts may have a mix of technical skills, such as database and statistical software knowledge, as well as broad commercial abilities, such as presentation and marketing knowledge.
A market analyst’s job is to research market conditions to forecast product and service sales. A good market analyst will be able to assess qualitative data, trends, strategies, and competition to boost their company’s competitiveness. A market analyst’s job is to help corporations figure out what items are in demand, who will buy them, and what price they are prepared to pay. Market analysts are typically hired by marketing agencies of varied sizes within a variety of businesses and industries.
A marketing analyst assists firms and organizations with their marketing goals by bringing marketing expertise to them. The marketing analyst’s job might vary in channels and type of work depending on the sort of role and organization they work for. In certain circumstances, the marketing analyst will be responsible for providing analytical support for a single marketing channel or a group of marketing channels. The marketing analyst may also be involved in developing strategies, identifying target audiences, doing competition analysis, and channel optimization.
Marketing analysts are often full-time employees that collect data either alone or as part of a team. Their main purpose is to help their client understand where they are in the market and how that can change as a result of changes in consumer behavior, pricing, new markets, and other things.
Marketing analysts can work for a variety of industries, including marketing agencies, corporations, tech firms, startups, retail stores, and more. Small firms, startups, and organizations trying to grow into new markets are all looking for freelance marketing analysts. Marketing Analysts might work from home, full-time, or on a freelance basis. Furthermore, if the individual is prepared to develop more technical skills, there are numerous opportunities for upward mobility and income increase in this field.
Marketing Analyst Job Description
What is a marketing analyst job description? A marketing analyst job description is simply a list of duties and responsibilities of a marketing analyst in an organization. Below are the marketing analyst job description examples you can use to develop your resume or write a marketing analyst job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
- Predict sales and market trend
- Investigate rivals
- Take consumer surveys and look at consumer demographics
- Identify efficient data collection methods
- Evaluate the efficacy of marketing techniques
- Use Statistical software to analyze data.
- Interpret results of data analysis
- Present findings to clients and/or managers in reports or presentations
- Examine customer satisfaction
- Conduct valid and trustworthy market research. SWOT (Strengths, Weaknesses
- Use online market research and catalog results to add to databases.
- Create and test data collection methods (Surveys, Questionnaires, Opinion Polls)
- Develop a strategy and convey it to upper management or a client.
- Make recommendations based on data reports.
- Collect and analyze statistical data using both current and old ways
- Create unique research techniques, such as questionnaires.
- Conduct research and execute best practices based on market trends.
- Examine customer intent and sales funnels.
- Calculate the return on investment (ROI) of online and offline advertising efforts.
- Report Marketing KPIs including conversion rates, website traffic, and social media engagement.
- Keep track of your email marketing campaign’s results (delivery, open, click-through rates).
- Monitor the distribution of budgets and the results of paid ad campaigns.
- Analyze benchmarking data and conduct competitive research.
- Recommend improvements to your website and campaign.
- Collaborate closely with the sales and marketing departments to find new customer acquisition possibilities.
- 5+ years of marketing or related experience
- Has a good understanding of search engines, online analytics, and business research tools
- Excellent command of statistical software (SPSS, SAS, or comparable), databases, and Microsoft Office.
- Communication and presenting skills are essential.
- Knowledge of data warehousing and mining is essential.
- Knowledge of data collection methodologies is required (polls, focus groups, surveys, etc)
- Working knowledge of CRM software
- Critical and analytical thinking skills
- Experiment with the Design Process: Experiment design is critical as a marketing analyst for identifying trends to pay attention to. This expertise enables marketing analysts to go beyond conventional A/B testing and adapt to changing situations, like as the privacy modifications in iOS 15. You can experiment with the following aspects of the company:
- Budgeting for marketing.
- Copy for the landing page.
- PPC (pay-per-click) campaigns
- Choices in graphic design
- Email marketing campaigns.
Machine learning is also used by several top marketing analysts to help their experiments or develop new ideas.
The following are some of the advantages of machine learning:
- Experiment monitoring and analysis in real-time across several marketing tests.
- Automatic trend detection that you can investigate further and use to create an experiment.
Mailchimp, for example, offers Click Maps, which you can use to analyze interactions. After that, you can run an A/B
- Modeling of Attribution: Understanding the impact of your company’s marketing operations requires attribution modeling. It entails determining which channels and touchpoints contributed to a marketing conversion. Consider the following scenario:
- Content marketing is a term that refers to the process of Advertisements on Twitter
- Paid search and advertising campaigns
- Google Ads is a service provided by Google.
- Email marketing campaigns.
Each method of attribution has advantages and disadvantages, and some perform better in specific contexts than others. As a result, you’ll need to know how to use each strategy and when to apply it.
- Forecasting: Forecasting allows you to predict revenue-related aspects such as lead generation and conversion rates. Predictive modeling, which involves predicting client behavior or based on previous contacts, is another component of forecasting. This behavior can be used to:
- Concentrate marketing efforts on customers who are more likely to convert.
- Determine when and where customers will receive content.
- Increase the lifetime value of your customers by offering relevant cross- and up-sells.
- Make a digital marketing plan.
Marketing analysts rely on the following to make accurate forecasts:
- MATLAB: is a programming language that reduces the amount of time it takes to process, clean, organize, and visualize data. It can also run machine learning models, allowing you to automate predictions. The initial data analysis platform.
- Microsoft Excel: is still in use today. Microsoft’s Analysis ToolPak and VBA, the company’s native programming language, assist marketing to analysts to speed up basic statistical and analytical activities.
- Reporting and Project Management: You’ll be responsible for a variety of projects as a marketing analyst, including forecasting, experiment design, and data analysis. You’ll require project management abilities to keep all of these moving elements in functioning order. You’ll also have to work with a variety of stakeholders, including
- Engineers and graphic artist
- Graphics designers
- Business development and sales
Using a project management tool like Trello or Basecamp is a fantastic idea. These tools can help you maintain track of the project’s development while also keeping stakeholders updated and increasing productivity. You’ll need to produce reports and dashboards that provide actionable information for the marketing department at the end of each project. You’ll construct real-time reporting dashboards and reports that illustrate marketing patterns throughout your career. And you’ll do so using the visualization and cleaning languages and tools stated above.
- Skills in Market Research: Any marketing analyst’s basic talent is market research. This ability enables you to create actual tests and collect data that can aid in the improvement of your marketing efforts. In 2022, most marketing analysts will work with quantitative data. However, qualitative research, such as customer interviews and surveys, may be required.
The following are some examples of market research:
- Examining the strategies of competitors
- Examining marketing instruments
- Identifying a new product’s or service’s product-market fit
- Data on the client’s journey is being analyzed.
- Creating innovative methods for analyzing marketing performance
- Customer Service: Understanding how customers think is critical in marketing. Knowing general customer service abilities also aids in the development of good customer and stakeholder connections. It is beneficial to speak with consumers or spend time providing customer service in order to gain a better understanding of the customer experience. Getting direct feedback from customers will help you better understand their wants and needs, allowing you to create more effective marketing experiments.
If you don’t have time to speak with customers, be sure to connect with other departments, such as:
- Business development and sales.
- Management of acute counts
- The -suite leadership team for customer success
People in these departments will approach the situation from various perspectives. It’s up to you to turn them into practical experiments to help you with your marketing.
- Thought Diversity and Creativity: Technical professions are sometimes misunderstood as being devoid of creativity. However, this could not be further from the truth, particularly for marketing experts.
Consumer preferences are constantly shifting. For example, as the demand for more visual forms of marketing grows, more businesses are turning to video marketing initiatives. Out-of-the-box thinking is a result of innovation and intellectual diversity.
However, there are several myths surrounding creativity. It’s not about inventing something new. It’s all about bringing things and thoughts together that are normally disjointed.
And reading, listening, and learning broadly are the finest strategies to promote creativity and thought diversity.
How to become a Marketing Analyst
- Obtain your Bachelor’s Degree: Marketing, statistics, and businesses are the greatest subjects to major in. Mathematics, economics, computer science, communications, and consumer psychology are some other relevant majors. Regardless of your major, you’ll want to take quantitative analysis classes.
- Enhance your abilities: To succeed as a marketing or market research analyst, you’ll need excellent analytical skills, and you’ll need to demonstrate these skills to land-related roles. Familiarity with statistical tools such as Excel, R, SAS, and SPSS is essential. You should consider learning programming languages, particularly SQL.
- Get some first-hand experience: While still in school, and look for summer internships. Companies frequently hire new graduates who have the necessary training and qualifications right out of school. Consider how you can demonstrate your analytical talents through past projects and be able to tell a story about how your critical thinking skills lead to novel ideas.
- Sector-specific specialization: You’ll want to participate in a variety of projects as an entry-level marketing analyst to gain experience in all facets of the field. However, after accumulating broad experience for a few years, you’ll want to specialize. As a result, you’ll be more likely to be promoted as an expert consultant.
- Obtain a Master’s Degree: Getting a master’s degree in business specializing in marketing analytics is the most significant approach to developing your career as a marketing analyst. This degree will help you qualify for a variety of managerial and technical careers. A professional certificate is another option. The market research association (MRA) offers the professional researcher certificate (PRC) while the international institute of market research and analytics offers the certified market research analyst (CMRA) (IIMRA). The second certificate is more basic and can be applied for by college students, whilst the former is available at the practitioner and expert levels and must be updated every two years.
- Get a Promotion: Marketing analysts typically work for 1-4 years before moving on to more senior positions such as marketing manager (or senior marketing manager), senior marketing analyst, or digital marketing manager. This, of course, is contingent on your commitment to improving your abilities, delivering high-quality work on every project, and pursuing advanced degrees or professional certifications.
Where to work as a Marketing Analyst
- Marketing agencies
- Tech firms
- Retail stores
Marketing Analyst Salary Scale
In the United States, the average marketing analyst’s come is $72,944 per year or $37.41 per hour. Starting salaries for entry-level employment start at $57,283, with the most experienced and highest-paid earning up to $105,425 per year.
In the United Kingdom, the average marketing analyst’s income is £35,000 per year or £17.95 per hour. Starting salaries for entry-level positions start at £28,000 per year, with the highest-paid individuals earning up to £48,454 per year.