Today, the Digital Revolution is responsible for a new launch: a radical, updated marketing strategy that accommodates our complex, interconnected world.
Many different people have given rise to this brave new world — not all of whom work in marketing, mind you — but the position most responsible for modern marketing is the marketing manager, one of the highest-ranking roles in the profession. Below, we’ve highlighted some of the defining features of marketing managers, including a job description and projected salary, as well as ways to become a marketing manager, including degrees in marketing and on-the-job experience.
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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Marketing Manager Job Description
Manages the long-term and day-to-day marketing activities and programs for an organization
Researches and analyzes market trends, demographics, pricing, competitor products, and other data to plan marketing strategies
Tailors marketing strategy to meet business objectives
Finds, hires, and assembles a marketing team
Effectively communicates marketing vision and strategy to a team, and ensures key expectations are met
Collaborates with creative team to create promotional materials, website content, advertisements, and other marketing-related projects
Manage marketing budget and monitors results
Identify market weaknesses for business development and lead generation
Salary and Job Prospects for Marketing Managers
The marketing industry should enjoy major growth in the next few years. In the United States, digital marketing spending is predicted to exceed $100 billion by 2019, up from $56 billion in 2014. According to the Bureau of Labor Statistics, advertising, promotions, and marketing managers are, perhaps unsurprisingly, among the most in-demand professionals in the country, with 250,000 currently working in the field. Hiring is projected to increase 10% over the next decade, adding 24,000 positions and nearly doubling the average rate. (Comparable jobs in sales management and general management occupations will grow 7-8%.)
Pay is highly competitive, as well.
The median annual wage for marketing managers is $130,000, and upper-level managers or managers with advanced degrees may earn even more. The highest 10% of marketing managers earn $210,000 per year. The top-paying industries are (in order): professional, scientific, and technical services; management of companies and enterprises; finance and insurance; manufacturing; and wholesale trade.
Using Your Education to Become a Marketing Manager
Most marketing managers have at least a bachelor’s degree (nearly 60%), though not all necessarily have a degree in the field.
For more specialized tracks — particularly if you’re already working in the field or know a specific professional track you want to pursue — a master’s in Communication or Public Relations are in-depth, hands-on programs that can improve career and salary prospects.
Thanks to the rise in online education opportunities, more and more marketing professionals are opting for quick, affordable routes like digital bootcamps or Marketing MOOCs, which include certificate options and typically feature highly practical, career-oriented curricula taught by working professionals. (In some cases, these benefits can actually make a high-quality bootcamp or MOOC more valuable than a formal but mid-tier master’s.)
Using Your Skills and Experience to Become a Marketing Manager
One of the most important factors in becoming a marketing manager is experience. Nearly 40% have 5-10 years of experience, and 20% have over 10 years.
Still, most employers are straightforward: if you’ve got the skills, you’ve got a chance at the job, particularly in a big-picture field like marketing, which requires a wide range of skills and strengths. Some of the most common of these include:
Critical and analytical thinking
Written and verbal communication
Valuable hard skills include:
Proficiency in a CRM software, i.e., Salesforce, Oracle, Microsoft Dynamics CRM, SAP, etc.
Financial planning and strategy
Familiarity with web design, graphic design, and production