Market research analysts collect and interpret data on the various market conditions that determine sales and consumer behavior. They work in almost every industry and their numbers are growing.
Internet marketing analysts are a specialized sub-sector of individuals who research online marketing campaigns and strategies. As such, their utility is expected to increase as more companies and institutions market themselves online.
The duties of an Internet marketing analyst are diverse, and include the collection and interpretation of data regarding consumer behavior online, the development and implementation of online advertising and promotional strategies, website analysis and search engine optimization. Internet marketing analysts also translate raw data into coherent information about consumer behavior and sales trends online; the information they glean informs the marketing strategies they create.
The ability of Internet marketing analysts to interpret large amounts of data quickly and respond decisively to current and forecast trends in technology, consumer behavior and online market conditions makes them attractive to a wide variety of employers.
The U.S. Bureau of Labor Statistics (BLS) projects a higher growth rate in the number of employment opportunities for market analysts, in general, than for all occupations combined: 19% growth is anticipated between 2014 and 2024, compared to nearly 7% growth for all occupations.
Educational or professional experience in statistical and data analysis should help market analysts, including those specializing in Internet marketing, compete for enhanced employment and earnings prospects.
Salary Ranges and Considerations
According to data collected by the BLS, the median annual wage of market research analysts nationwide was $62,560 in May 2016, with those working in the finance sector earning $69,730.
Market research analysts work in industries ranging from healthcare to hedge funds and, as a result, the salary range is wide. The top 10% earned more than $121,720 and the lowest 10% less than $33,950.
Analysts with the experience and training necessary to transition into leadership positions may be able to increase their earnings potential significantly. In May 2016, the median salary for marketing managers was nearly $131,180, the BLS reported.
Local and regional market conditions can affect salary levels and employment opportunities, so it’s important for interested individuals to conduct independent research.
Education and Training
Market research analysts generally have a bachelor’s degree and, in some cases, a master’s degree may be a requirement for employment. For individuals considering a career as an Internet marketing analyst, a BA in Business Administration with a concentration in Marketing or Computer Science may provide a solid base for entry into this fast-paced and competitive field. Typical coursework might include:
- Quantitative analysis and methods
- Principles of marketing
- Marketing research
- Internet marketing
- Business finance
- Database management
- Systems analysis and design
- Programming logic and design
- Website design
Internet marketing analysts are expected to communicate effectively, think critically and analytically, and interpret large amounts of numerical data. With that in mind, a broad knowledge base that includes liberal arts coursework in psychology, social sciences and mathematics, among other subjects, can be advantageous.
Market research analysts with at least three years of professional experience can apply for voluntary Professional Researcher Certification via the Marketing Research Association. Candidates also must pass an exam and complete continuing education hours.
Applicable Military Occupational Specializations
Internet marketing analysis overlaps with a variety of military occupational specializations and their associated duties, including:
U.S. Air Force
- Network Intelligence AnalystSpecialist:Collect and analyze intelligence from multiple communications networks
- Information Systems Technician: Oversee and maintain military computer and information systems
- Psychological Operations Specialist: Assess, create and distribute media and information to a target population
- Signals Intelligence Analyst: Analyze strategic communications in order to extract tactical intelligence
U.S. Marine Corps
- Signals Intelligence Officer: Collect and interpret signals data for intelligence reports and briefings
- Mass Communication Specialist: Design, create and disseminate strategic visual media and information