How to Discover Your Niche as a Marketing Analyst

How to Discover Your Niche as a Marketing Analyst You have a passion for marketing data. Now its time to hone in on your strengths. Follow these tips to discover your niche as a marketing analyst. Changing careers to become a marketing analyst is a smart move. More than ever, marketing departments at companies large and small are relying on data to make decisions. The need someone to interpret that data and present numbers in a simplified way. That means that if you can make numbers and statistics tell a story, you can be a great marketing analyst.  Theres also a growing need for marketing analysts. Between now and 2026, the field is expected to grow by 23 percent, outpacing most professions. The pay also coincides with the high demand. The average pay for a marketing analyst is over $63,000 per year or just over $30 per hour. Read on to discover what a marketing analyst really does, and what it takes to become one. What Does a Marketing Analyst Do? A marketing analyst interprets many types of data to help senior managers make decisions. For example, a chief marketing officer will want to know how effective a marketing campaign is. Theyll turn to a marketing analyst to pull data from various resources and determine if the campaign is working for not. They can dive deeper into data and pinpoint why a campaign isnt converting or advise if there are components like headlines that can be tested. Marketing analysts also work at ad agencies to help them decide how client campaigns are working and reporting back with recommendations. Many decisions are made based on the data and the interpretation of that data. A good marketing analyst needs to be able to read data from many sources and determine the proper course for a campaign or for the entire company. Companies may decide to release new products or enter new markets based on the forecasting data a marketing analyst presents to company executives. Types of Marketing Analysts When youre looking at marketing analyst positions, youll find that there are a number of different titles for marketing analysts. While all of these positions examine data and generate reports, they have different focus areas. Digital Marketing Analyst A digital marketing analyst focuses on digital marketing campaigns. They will look at things like website traffic data and whats driving that traffic. Theyll also make recommendations and create digital marketing campaigns based on that data. Marketing Research Analyst Your job as a marketing research analyst focuses on business competitors and customers. Youll administer surveys, focus groups, and other qualitative data like economic forecasts to uncover new opportunities. Youll help steer the direction of the company as you determine what products should be sold, where they should be sold, and who needs them. Your data will help determine pricing, the competition, and sales forecasts. Marketing Data Analyst A marketing data analyst will look at sales trends, economic conditions, consumer insights, and more to see if marketing campaigns are generating revenue and what are potential opportunities for the company. As you can see, there is a lot of overlap between these positions. They all focus on gathering and interpreting data in order to make key decisions for the company. Whats a Typical Day Like for a Marketing Analyst? Steve Jobs once noted that customers dont know what they want until you show it to them. That was certainly the case with the iPhone and iPad. Now, we cant live without those devices. Thats how many companies operate. Theyre looking to fill a need in the marketplace, and they rely on data that you provide to decide their next product launch, or market to expand into. A marketing analyst will also work in the emerging world of predictive analytics to find opportunities, too. You can learn more about predictive analytics. There really isnt a typical day for marketing analysts. One day, you may be staring at spreadsheets. The next day youre presenting findings to the CEO of your company. If youre stuck in a dead-end job, a marketing analyst can be a lucrative option. Its also exciting and rewarding. If you like crunching numbers and dont like to be bored staring at spreadsheets, this is an option for you. Career Path of a Marketing Analyst There is no one career path to become a marketing analyst. The reason why is that many schools and universities dont teach the analytical skills that are necessary to perform the job well. That makes it difficult for companies to find quality people for the job. Analysts may have a degree in statistics, business, or economics.  They may have a background in marketing or communications. Marketing analysts are unique because they have to be able to combine the data-driven skills of an engineer with the creative skills of an art director. You need to have soft skills like good communication skills, excellent presentation skills, and collaboration skills. Companies look for critical thinking skills above all else. There is a growing demand for these skills and if you can show that you can ask the right questions, you will command a higher salary. You may want to start with an apprenticeship or internship to get experience as a market analyst. Youll also want to have experience with different programming and analytic platforms like Adobe Analytics, Google Analytics, HTML, and Javascript. Start Your New Career as a Marketing Analyst If youre thinking about changing careers, becoming a marketing analyst is a good option. There are a lot of opportunities as there is a growing need for these positions. The average pay for a marketing analyst is also above average. To become a sought-after marketing analyst, you need to be able to perform under pressure and make sound decisions based on data. Companies are going to rely on your expertise, and much like defending a dissertation, you need to be able to defend every decision you make. After all, millions of dollars could be at stake. You have to be willing to make critical decisions and withstand a tremendous amount of pressure if things dont go well. Ready to get started? Sign up for my resume, job search, and LinkedIn profile package today.