Marketing Careers with an MBA
Marketing has undergone revolutionary changes while growing into a global industry valued at $1.7 trillion. Connecting businesses and customers is an increasingly complex undertaking as the public becomes accustomed to personalized experiences across multiple channels. This environment challenges marketers to target campaigns at the right audiences, attract attention in a crowded online marketplace and control spending.
To thrive, marketing agencies and departments need leaders who can keep pace with emerging technologies and critically evaluate performance data while ensuring that campaigns align with organization-wide strategic objectives. Professionals can leverage their skills in problem-solving, management and analysis to build exceptional marketing careers.
An MBA in marketing gives marketers the grounding they need to take charge of complex projects and apply compelling, data-driven approaches to advertising and promotions. With the skills to develop and execute integrated strategies that meet the demands of an international business landscape, you can pursue marketing management career opportunities.
Career Paths in Marketing
Operating in a hyperconnected, global marketplace demands powerful engagement with customers and partners through multiple channels. This fast-paced environment makes appealing and creative marketing more crucial than ever. Today’s marketers strive to achieve organizational objectives by guiding customers through experiences that may include print, digital and broadcast ads as well as interactions through emails, websites and mobile apps.
One of the key challenges of marketing careers is balancing the need for creativity with quantitative rigor. Marketers are constantly challenged to identify cost-effective strategies to spend advertising and promotion budgets, using geographic and demographic targeting data to optimize campaigns. At the same time, professionals must understand how to craft ads, websites and emails that compel audiences to engage with the brand.
In a 2018-19 survey of more than 600 top marketing executives, most respondents told Gartner that they planned to increase spending, with an average of 16% of their budgets specifically allocated for innovation. That drive for new ideas means it’s vital for marketers in leadership positions to explore the latest thinking in the field from a multidisciplinary perspective. With an advanced business education, you may discover a range of marketing career options.
What Can I Do with an MBA in Marketing?
On a marketing career path, you may work in roles where you nurture client relationships, develop lucrative business prospects, perform market research, set communications policies and manage complex projects. With an expanding number of leadership positions available, professionals apply a diverse set of skills to advance into new roles. The U.S. Bureau of Labor Statistics predicted faster-than-average growth in job openings for advertising, promotions and marketing managers and estimated that 10% more jobs would be created between 2018 and 2028.
Read on to learn more about marketing jobs that could be the right fit for MBA graduates:
In advertising and communications agencies, this leader manages the accounts department. The supervisor reviews work produced by account representatives and works closely with clients to ensure that all campaigns and assets meet their needs. This role calls for skills in customer service, project management and communication with employees, decision-makers and clients.
Employed by either an agency or an organization’s marketing department, this leader collaborates with internal and external teams to guide advertising. The advertising and promotions manager draws on market research to compose and disseminate a unified message that spreads awareness, boosts sales and fulfills organizational goals.The manager may work across all channels or specialize in a particular area, such as digital, print or broadcast ads.
A brand manager is in charge of promoting a product’s public image through a range of advertising and communications initiatives. As a member of a marketing department, this professional researches the competitive landscape and develops an overall brand strategy. The brand manager then leads the execution of that plan while maintaining a budget. This position involves balancing multiple initiatives, such as managing the brand’s relationship with journalists and media, collaborating with creative agencies and ensuring consistency in customer engagement across all channels.
Business Development Manager
Professionals in this role create plans for growth, seizing opportunities to increase revenue and customer loyalty. They contribute to growing business by responding to requests for proposals and building relationships with representatives at other organizations that lead to long-term partnerships and referrals. As the leader of a business development team, a manager must determine project objectives and keep employees in line with established budgets and timelines. A business development manager succeeds by identifying the most cost-effective ways to promote an organization, strengthening rapport with clients, solving problems and closing sales.
Chief Marketing Officer
The chief marketing officer sets an organization’s overall agenda in areas like advertising, market research, public relations and brand management. This role requires an understanding of how data analytics can be leveraged to support marketing efforts and produce valuable insights. With valuable business intelligence gleaned from market research and analytics, the CMO is able to provide the rest of the executive team with perspective on customers’ preferences and behaviors, playing a major part in strategic decision-making.
A communications manager’s responsibilities involve supervising both internal and external messaging created by teams of copywriters, marketers and graphic designers. These professionals plan initiatives to engage customers and clients, often personally drafting materials like press releases, emails and newsletters.
Marketing directors develop a brand’s overall voice, conceptualizing marketing campaigns and managing the projects that bring these ideas to fruition. They set the schedule to roll out new initiatives, track the departmental budget and provide feedback to employees. The director also advises senior leadership, using data from campaigns to recommend large-scale improvements.
This professional leads an internal team in a marketing department. For smaller organizations, a single manager may handle all channels, while larger marketing departments often have several managers, each focused on particular channels. Some common job responsibilities are crafting messaging strategies, budgeting for advertising campaigns, communicating with media outlets, collaborating with third-party vendors and conveying important data to upper management.
Market Research Analyst
Strategic planning starts with a thorough analysis of the market for a product. Researchers investigate market conditions to assess the potential for reaching customers and assuming a strong position in the competitive landscape. These reports inform an organization’s plans for marketing and public relations as well as for pricing, product development and sales. Analysts may work as part of an internal team or as part of a market research agency that produces reports on a wide variety of topics and markets. Regardless of their work environment, it’s crucial for analysts to interpret data accurately and convey their findings clearly in written reports and in presentations to business leadership.
Promotional campaigns are integral to raise customer interest and boost short-term sales. A promotions manager spearheads the planning for discounts or other purchasing incentives and collaborates with marketing teams to spread the word about a product or service. That may mean arranging for in-store displays, direct mail or coverage from media outlets.
Search Marketing Strategist
This specialist works to maximize brand visibility and customer engagement through online search. Marketing professionals can set key performance indicators and analyze relevant metrics to decide the best approach for achieving their organization’s goals. Based on this data, a strategist can work with web developers and marketing staff to increase site visits, conversions and sales.
Average Salaries with an MBA in Marketing
There are rewarding career opportunities in marketing for professionals who are capable leaders, data-driven strategists and persuasive communicators. Combining specialized skills with a broader business acumen allows professionals to make a difference at the management or executive level. By moving into senior roles, marketers confront some of the business world’s most pressing challenges while growing their own annual pay.
The following are marketing career salary averages for some jobs that you might consider:
- Chief Marketing Officer: $171,459
- Marketing Manager: $134,290
- Advertising and Promotions Manager: $117,130
- Search Marketing Strategist: $90,270
- Marketing Director: $86,502
- Account Supervisor: $72,697
- Business Development Manager: $71,869
- Brand Manager: $70,386
- Communications Manager: $63,924
- Market Research Analyst: $63,120
Sources: U.S. Bureau of Labor Statistics and PayScale
An MBA in marketing can give professionals the edge as they take the next steps in their careers and face emerging problems like nurturing relationships with international audiences and capturing the value of analytics. The future of advertising, promotions and corporate communication is in data-fueled initiatives that cross channels and reach around the world. It takes business savvy, cutting-edge technology and strategic planning for marketers to make the most of this constantly evolving competitive landscape.
In Lynn University’s online MBA with a marketing concentration, students benefit from a proven business curriculum while exploring the latest industry trends. The multidisciplinary curriculum synthesizes best practices for corporate communications, resourcing and performance assessment to develop the next generation of marketing leaders.