Must have qualities to be a Marketing Analyst
An analyst is the one who takes a deep dive in data and extracts the desired information. The marketing analysts are expected to serve companies with the information related to markets to be served, products or services to be provided, the prices to be offered and also to suggest suitable competitive strategies. The person is expected to have a thorough understanding of market conditions, competitors’ moves and consumers’ expected behaviors.
The elevation of technological innovations is generating an inclination towards the research and analysis based profiles. Thus, if you are looking towards this boom, here is the checklist of qualities of Marketing Analyst
- Curious in nature: Marketing Analysts are always curious to uncover the facts and have hunger to know more especially something which is not known to all. They are engrossed in digging out the market information and feel satisfied when unearthing some additional information about markets, products, competitors etc.
- Critical Thinking: Market Observations, Market Assessment, Judging Markets , Market Consideration , Market Evaluation, Market Inference, Market Explanation, Marketing Decision making are few terms used with regard to critical thinking. Marketing Analyst forges with all these approaches and opine out of the box.
- Strong Analytical Skills: A marketing analyst has strong possession of analytical skills. Marketing analyst converts raw marketing data into functional outputs. They connect all marketing or industry information with business outputs and Marketing ROIs or new consumer generation etc.
- Problem Solving Approach: Marketing Analyst can gauge the problem statement and situation and proceeds with the intention to dig out the solution. Needless to say that they have focused approach of covering all aspects with regard to problem.
- Strong Networking: The one has to develop connections with the market. Generating sufficient information and using them as tools for forecasting and analyzing the situations is must for a marketing analyst. Thus, to serve the same purpose they need to be approachable and friendly. They follow a focus group approach in order to ensure sufficient feeding of industry and market information.
- Playing with logics/ scientific approach: The scientific approach is always on focus for marketing analysts. They often add whys and hows with information with intent to uncover the logics. They go with proven facts and figures when it comes to decision making.
- Good Listener, Observer and Communicator: “The sniff dogs sensing changes”: Marketing Analysts are believed to be strong observers, listeners and have to be good communicators be it oral or written. They develop strong relationships with customers, loyal consumers, prospects, clients and other groups involved in the process. In addition to these, they also know which information should be plated to whom.
- Challenger/ Not a Stereotype: Marketing Analysts say no to basic stereotypes as they always go with logics. They intend not to believe pre-informed opinions and experiences rather go with the imperative approach of unhiding the logics and standards.
- Industry Knowledge : Somehow this characteristic is linked with the quality of being observant, but the key relevance of possession of industry knowledge makes it imperative to narrate as a separate point. Understanding the functioning patterns of Industry, Markets and how it utilizes data is very important for a marketing analyst.
- Statistical Know-How: The knowledge of basic statistical tools like SPSS, MS Excel etc. is always complementary for such profiles. Though it is not necessary to possess this quality, but it is always better to have hands on these tools.
In addition to the above mentioned qualities, understanding of marketing functions and strategies, being vigilant to all changes occurring in industry and effective interpretation of information can be an icing on the cake. To get to know about teh