Top 15 Market Analyst Skills to Stay Top of Your Career

Top 15 Market Analyst Skills to Stay Top of Your Career.
Market analysts need to develop certain skills and qualities to succeed in their careers.

Top 15 Market Analyst Skills to Stay Top of Your Career

This post provides exhaustive information on the top skills and qualities you need to develop as a marketing analyst or someone interested in the career to achieve tremendous success in your career.

Marketing is an important part of business. It serves the purpose of reaching out to potential customers in the marketplace and beyond, be it physically or through the use of digital means.

The role of marketing is redefined through the personal instincts and expertise of a certified marketer.

This is to say that the art of marketing is a dynamic one, which is subject to the mode of operation of a marketer who can deem a certain idea or strategy fit for the time being or for future events.

Who is a Marketing Analyst?

A marketing analyst is someone charged with the responsibility of carrying out market research for a company, with the view of acquiring vital information and propounding a workable plan to help in particularly achieving their marketing goal.

A marketing analyst gathers relevant information through constructive research, and based on that produces a strategy to help their company achieve its aim of making impact in the industry.

Top 15 Market Analyst Skills to Stay Top of Your Career

If you want to stay top in your career as a marketing analyst, here are important skills and qualities you need to develop:

  1. Pressure management
  2. Goal-oriented
  3. Detail-oriented
  4. Accuracy
  5. Analytical skills
  6. Understanding of human behavior
  7. Predictive skill
  8. Organizational skill
  9. Good communication
  10. Presentation skill
  11. Commercial awareness
  12. Strategic planning
  13. Good work ethics
  14. IT knowledge
  15. Team work.
  1. Pressure management

As a marketing analyst, much is demanded from you both mentally and physically.

This means that you are needed to be at your best, both mentally and physically.

This is because, you are involved in a lot of market research and in the process your physical presence might be needed.

This comes with a lot of pressure.

The demands of your job come with a lot of pressure and this pressure is both mentally and physically draining.

How well prepared are you for this or how do you intend to cope with the pressure that comes from your job?

For you to succeed in this job, you have to find some avenues to help you relax and ease off some pressure.

This is not to say that you should abandon your job, but it entails you have a structured plan on how to handle the pressure that emanates from your job.

  1. Goal-oriented

There are possibly three goals you have to deal with as a marketing analyst.

They are: personal goal, team goal, and organization/company goal.

These three goals are the yardstick to be used to measure your success in your job as a business analyst.

For your personal goal, you need to have good personal ambition which, serves as a driving force behind your effort or input in the work you have been assigned to do both within and outside the organization.

That is what your personal goals should be able to help you do.

The team and the organizational goals come next on the line.

When you settle your personal goals, the next you pursue is the team goal.

The team goal is what you intend to achieve with your team and your organizational goal is what you want to achieve at the organizational level.

  1. Detail-oriented

To be a good marketing analyst, you need not joke with the minutest detail you gather from your research.

That could make a big difference in your quest to have a tangible result.

This is why you should be careful with every detail you gather.

A good marketing analyst is known to be detail oriented.

You have to develop the capacity to work with every detail or information you get.

You adjudge data or information which is made available to you based on their usefulness with time.

This demands a lot of critical thinking from you in order to know the worth of information at your disposal.

Some information available to you can only be useful with time.

This means some information may not be needed for the present time, but that does not mean that you should discard them.

You should store or archive the information because you may need it in the future.

  1. Accuracy

Dealing with the details emanating from your market research should be well-detailed to ensure near perfect accuracy.

Distorted results can give you a wrong idea of what the market situation is.

This is what you should work on during your research.

Understand that in the course of carrying out your job, your major interest should be more on the accuracy of the results you have at hand than the quickness employed to achieve the results.

You cannot work with a distorted result.

This entails that you have to be patient and clinical in handling any research or project given to you to do or that your job demands.

You should be focused enough to gather your data, work on some distortions and present a more realistic and workable solution.

  1. Analytical skills

Analysis is highly demanded in your job as a marketing analyst.

You have to dissect and bisect the information you have gathered over time and draw some reasonable conclusions that can help solve some of the marketing needs of your company.

Understand that for you to be able to work with small details, you should be purely analytical with the results and not allow laxity or assumptions take the place of critical analysis.

This is what you should be able to do with your brain and your mind.

Also, know that it is near impossible to get a lot of accuracy if you are not patient enough to think things through or to analyze to the best your mind can offer.

This is the basis of becoming an effective marketing analyst. You have to be patient and maintain your focus.

  1. Understanding of human behavior

The analysis of the market is not basically about products per se but majorly about human behavior in regards to certain products and services which your company partially contributes to.

So, the research is majorly about humans and not products.

Human beings in the market (customers) are the major determinants of the flow and trends witnessed in the market.

This deals with their change in appetite and their purchasing power.

These are the two things you take note of when conducting a market research as a marketing analyst.

The human taste is almost certain to change at some point alongside their purchasing power.

The change in purchasing power is largely dependent on the change in the income of the customers.

So, you need to understand this fact and know how to fix it up in your research.

  1. Predictive skill

The predictive skill is what you will need to be able to predict what the future looks like in the marketplace.

You should have that instinct in you to have a glimpse on what the future looks like.

It is also a skill you develop through adequate knowledge of the market.

It is important that as a marketing analyst, your company considers you as a predictor of the future.

This is partly due to your involvement in research and also the perceived skill you are expected to have in order to be a good adviser to your company.

This means that if you want to be a good predictor of the future, you need to sharpen your research skills.

This is important.

Assumption is not supposed to be the reason you make prediction.

Through your numerous researches, you should be able to predict what the future holds for your company and advice your employer in like manner.

  1. Organizational skill

Up to this point, the previous points raised in this article have pointed solely to your personal ability, but at this time, there is need to talk about your ability to work with other people.

This time, we have to look at a scenario where you are assumed to be the leader of a marketing analysis team.

For sure, this job does not concern only you.

You have a team you work with and as a leader you have a lot to contribute to the success of this team.

You are expected to be a leader with the necessary skills to help the team achieve its goals.

One of those skills is organizational skill.

As the leader of the marketing analysis team, you are in charge of activities and timing of the team.

You are to decide when and how activities are carried out within the team and serve as a supervisor to ensure that what you have in mind is what the team is doing.

  1. Good communication

You communicate with your team to relay information and also to declare the goals and ambitions the team should be working to achieve.

You need to keep the team updated and help them in like manner to communicate effectively with each other.

Also, since the marketplace is your place of research, it means that you are given an opportunity to interact with both old and potential customers.

You will need to be skillful and effective to be able to get good and workable response from customers.

This is why it is not out of place to learn customer friendly languages to help communicate effectively with customers.

You need it for you to be able to get the best response that you desire from customers.

So, that is the place of good communication skills.

  1. Presentation skill

You might ask, of what use is presentation skill to you as a marketing analyst?

Bear in mind that presentation skill is a must-have for anyone that has anything to do with interacting and convincing customers to patronize a product offered by a company.

In the course of your market research, one thing you can never do without is the prospect of asking questions and questions being thrown at you in return by customers or potential customers.

You should know this and have it at the back of your mind.

Presentation skill is needed to be able to persuade potential customers to use a particular product.

In fact, how efficient you can be in your presentation will play a key role if your company’s product is going to look appealing to them or not.

  1. Commercial awareness

As a marketing analyst, knowing the state of the market at every point in time should be your primary job.

This should be one of the things or skills you should boast of having in your resume.

You have to be adept with the happenings and trends in the market.

Commercial awareness entails knowing the taste of customers and how they really want the product to be.

You have to personally educate yourself and also the people in the company on what is happening in the marketplace.

The market is an ever changing point of contact between the customers and the company, and the customers are the major players in the market.

Without knowing what they want, there is no way you can advise the company either to improve on a service or to try something new altogether.

  1. Strategic planning

Your job demands that you should be clinical in whatever you do; be it in your research or in your prediction of what the future holds for the market.

You have to be able to work your way through some details and get some action plans.

When you have your conclusions and recommendations, the next thing to consider is your next line of action, how to implement the actions.

This is where you will need effective and action-based plan.

Strategic planning entails making a well detailed and action based plan on how to execute your predetermined actions.

Remember that you have to be clinical and avoid mistakes as much as you can.

This should be your concern and should be seen that way.

  1. Good work ethics

For a professional like you, the marketing analyst in your company, your conduct and manner of doing things should form part of your professionalism as a marketing analyst.

So, professionalism should be your bond and your watch word.

One aspect of good work ethic is punctuality to work.

Punctuality shows your level of professionalism. You have to find yourself getting to work early enough to kick start the activity of the day.

You don’t need to set a bad example to members of your team.

Another aspect of good work ethics is your conduct both in and out of the workplace.

You have to watch your conducts and ensure that you don’t find yourself going against the rules of your job.

You have to be a professional and nothing less than that should be said about you.

  1. IT knowledge

Let’s say that you want to be a good and clinical marketing analyst and you have acquired some of the skills listed above, the next thing you should consider is having a good IT knowledge.

This will help enhance your effectiveness in your job.

By IT knowledge we mean satisfactory knowledge of computer and other digital devices.

These devices are designed for special purpose while some like a literal computer can handle different tasks both for business and/or other related purposes.

This is why you have to take advantage of the possibilities made available by these gadgets and make your job an easy one to an extent.

These gadgets are there for you to learn how to use them, and also, most importantly, employ them in your job.

  1. Team work

To you a market analyst, another important factor to your success is teamwork.

There is need for you to understand this fact and reposition yourself to work with people who are either higher than you or lower than you knowledge-wise or position-wise.

You alone cannot do everything, either in the company or in the marketplace.

You need some group of individuals to help you achieve your goals in your job description.

You may have your individual brilliance, but it is in your best interest to work with other people in and out of the organization.

Team work is meant to make your job easier as well as faster.

You need people out there to help enhance the scope of information you have at your disposal and also work with you towards achieving company goals.

Marketing Analyst Skills for Resume

If you are writing a resume or CV for the job of a marketing analyst, the skills and qualities discussed above should be emphasized in the skills section of the resume, to gain the attention of the recruiter/employer.

If you have the above skills and qualities, it will greatly enhance your resume or CV to have them highlighted.

Being the skills and qualities most recruiters/employers are looking for in the candidates they want to hire for a marketing analyst position, they will definitely give your resume some attention if they see that you possess them.

Conclusion

The expansion a company desires will definitely need the help and expertise of a marketing analyst.

This is to say that no company that desires to capture the market will ever ignore the services of a marketing analyst.

The relevance of a marketing analyst has a lot to do with the skills and qualities discussed on this page.

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