The life of a marketing analyst isn’t the same as in yesteryear’s past. The job of a marketing analyst is, in essence, to find ways to market the services and the products to the target audience alongside identifying the desired targets for the company. But that’s just the surface of it. A modern-day marketing analyst has plenty on their plate. So how do you go about handling these and making the most of them? Thankfully, here’s a list of 10 marketing skills that every analyst needs to know if they venture into this field:
- Analytical thinking and insight: A marketing analyst needs to have an efficient skill set in handling information and statistical data. These data and information form the basis for logical references and the conclusion. As a marketing analyst, one must be able to think analytically and draw reasonable insights from the statistical data and facts to facilitate the decision-making of the business.
- Strategic Management and Understanding of Analytical Tools: The ability to understand analytical tools and methods holds as much importance as the aforementioned skill set of analytical thinking. As a marketing analyst, you need to understand the workings of the various strategies and analytical tools and methods like SWOT analysis, SAP predictive analysis, Google Analytics, and more. These tools help identify the linear regression and progression, allowing you to overview the marketing model and consumer behaviour.
- Data Visualization and Analysis: Data visualization is the new age of data representation. The long sheets of statistics and data are not considered wholesome anymore, whether in the board meeting or at any marketing meeting. This is why data visualization has become an essential part of analyst duties. Data visualization also helps in the data analysis efficiently. This can help develop various metrics to facilitate the understanding of the business performance. Learn to use and master tools like Power Bi, Tableau, and more.
- CRM: Customer Relationship Management (CRM) is an important part of the modern-day organizational setup. It is a process that walks through the interaction models between the customers and the business enterprise. CRM aims to facilitate the finding of the right customer and to improve the sales of the organization. A marketing analyst needs to be able to understand and use the CRM system. They need to know the process walkthroughs and should aim to target the right customers to boost the revenues.
- Communication Skills: Communication is a prime currency when it comes to marketing and relaying information. Although most of the work of marketing analysts is performed behind the scenes, they need to communicate with other team members and relay information to the higher authority for immediate and future action.
- Understanding Marketing Research and Consumer Behaviour: Marketing research refers to the process of collecting, analysing, and understanding consumer behaviour and spending patterns. It helps analyse the qualitative and quantitative aspects of the market and identify the gaps in consumer expectations. This can help the organization identify the gaps in its system and rectify them to expand its customer base and revenue.
- Ability to Use Omni-Channel Marketing: Marketing has expanded its horizon from its earlier days to become a wholesome omnichannel. As a marketing analyst identifying the marketing channels and analysing the ROI from such marketing is one of their major work areas. Although the designing and running of the campaigning are more suited for the marketing domain, a marketing analyst has a major role to play as they provide the technical aspect and analytical insights on the channels. This helps in finding the best suitable model for consumer interaction.
- Technical Proficiency: The world we live in is at its peak of technological advancement, with much more to come in the following years. This presents an excellent opportunity for us to grow and learn. If you can integrate the technical aspects and the proficiency into your growth path as a marketing management analyst, you’d be set for a good career ahead.
- Project Management: Project management skillset is a definitive plus for any marketing analyst. It allows them to form and lead the team on various project models. The project model can vary according to the work domain. The major work areas where marketing analysts can provide insights are information system management, brand management, and more.
- Sales Management and International Marketing: Sales management is much more than looking after the sales process and functions. It includes aspects like identifying the key market areas, potential sales areas, customer behaviour, gaps in customer expectation, and more. As a marketing analyst, it’s often their domain to analyse and come up with solutions that can help in the smooth functioning of the sales management. On a similar note, international marketing has also become the need of time and is already becoming part of modern-day marketing management courses.
Marketing analyst as a career field is one of the highly acclaimed and lucrative options. This is why getting a good qualification in this domain can help you out in pacing your career ahead. If you’re looking at becoming a marketing analyst, NMIMS offers MBA in marketing management to form the base for a great career ahead.