The word sends shivers down the spines of many individuals. The idea of crunching numbers, sifting through raw information, and looking at charts and graphs seems daunting to some, but certainly not to marketing data analysts.
Marketing analysts look at the figures behind any marketing campaign – starting from the campaign's initial design throughout its entire run. As these individuals examine the data behind marketing campaigns, they help to inform other marketing experts about what does – and what doesn't – work in the marketplace.
Marketing managers need to know the effectiveness of a marketing campaign through its cycle. Embarking on these campaigns involves numerous expenses and risks, but marketing analysts help to reduce those risks.
According to Indeed.com, several locations are most in need of marketing analysts. These areas include:
Marketing analysts track campaigns based on aspects like response rates, consumer drop out rates, and return on investment. By segmenting the customer base, identifying market trends, and monitoring the competition, these professionals provide other marketing experts with research to back their practices.
Companies usually place marketing analysts in teams with other researchers. Some other marketing professionals they might work with include:
Marketing analysts display excellent critical thinking skills, able to determine what market numbers could mean for a marketing campaign. They've gained experience in marketing or research positions, showing aptitude for data interpretation.
Most marketing analysts earn bachelor's degrees in either statistics or marketing before entering the field. Strong mathematics skills are necessary in order to work through the complex data they encounter on a daily basis.
Companies understand the need for marketing analysts to drive any successful marketing effort, making them an integral part of any team. Sometimes companies will hire recent graduates as marketing analysts, who have the opportunity to earn around $50,000 a year.
If you're interested in learning more about market analyzation, contact schools offering degrees in marketing.