At a time when the marketing world is undergoing radical changes, the industry needs leaders to tackle the day’s most pressing challenges. How do you attract new consumers? How do you keep the old ones? If the digital revolution provides consumers with practically unlimited choices, how do you distinguish your product from the rest? How do you get their attention in the first place? These are just a few of the problems marketing managers across the world are facing. No doubt, it can be disorienting. But for the professionals who believe they have a solution – and are willing to take the necessary risks – the industry is wide open. And hiring.
Salary and Job Prospects for Marketing Managers
According to the U.S. Bureau of Labor Statistics, advertising, promotions, and marketing managers can expect nearly 20,000 new jobs to arrive between 2014-2024, representing an above average 9% sector growth. Salary numbers look good, too. Median pay stands at just over $130k, with upper-tier salaries above $180k. New York, California, and Chicago appear to have the largest concentration of high-paying jobs, according to Indeed.com, but places like Atlanta, Austin, and Charlotte offer similar salaries with lower cost-of-living expenses. (For a full rundown, check out our best cities for marketing jobs ranking.)
Marketing Manager Job Description
The marketing manager position is among the most coveted positions in the industry and holds the most important responsibility: developing and implementing the organization’s overall marketing strategy to attract new clients and maintain and strengthen existing ones. Compared to related roles like advertising manager, the marketing manager assumes a big-picture focus and must consider a wide range of factors, including macro and microeconomic factors, like estimating demand, determining price, and generally keeping an eye on economic trends which may affect strategy-making.
Valuable Skills for Marketing Managers
Excellent written and verbal communication skills
Understanding of marketing theory and practice (traditional and emerging)
Proficiency in a CRM software, i.e., Salesforce, Oracle, Microsoft Dynamics CRM, SAP, etc.
Financial planning and strategy
Creative and innovative thinking
Familiarity with web design, graphic design, and production
The Marketing Communication master’s concentration prompts you to analyze consumer behavior, conduct market research, and engage the power of brands and messages in order to develop powerful digital marketing strategies. Evaluate various tactics, measure their effectiveness, and explore the intricacies of working with or in complex, multi-functional teams to execute compelling marketing campaigns.
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Education for Aspiring Marketing Managers
Depending on experience, aspiring marketing managers ideally have either a bachelor’s or master’s in marketing, of which there are plenty of high-quality and affordable options online. That said, businesses are starting to appreciate alternative learning experiences, which carry their own advantages: for instance, digital bootcamps or MOOCs offer a combination of flexibility, intensiveness, and expertise that match traditional degrees (and sometimes exceed them). Of course, select certifications will go along way too, and some are considered all but compulsory for marketing managers.