Marketing Research Analyst

Working Schedule
 
Marketing Research Analysts typically work standard 40-hour Monday through Friday schedules. However, during an unexpected event leading to a rapid decline in sales, companies need to do damage control. They may have to scramble to devise ways to quickly overcome losses and stabilize profits. In such cases, overtime may be necessary.  

Typical Duties

• Review product or service sales trends and look for ways to improve sales
• Generate polls, surveys, and questionnaires designed to capture customer input
• Analyze customer satisfaction results from a variety of sources
• Use Big Data and analytics software to generate reports on customer demographics, desires, purchasing trends, and current economic factors that impact sales 
• Consider the effectiveness of advertising campaigns and offer options for change
• Collaborate with marketing and sales professionals to devise or revise strategies
• Monitor the competitions’ efforts and adjust strategies based on their weak points and on unmet customer demands
• Create graphs and presentation materials showing future sales prediction models 
• Additional Responsibilities
• Spending ample time in meetings and on phone or video calls
• Considerable amounts of report writing and presentation preparation
• Cross-checking data for accuracy and completeness
• Keeping up with national and global news, looking for issues that can affect markets 

Soft Skills

• Ability to work independently
• Goal-oriented and proactive 
• Analytical thinking
• Creative problem-solving skills
• Ability to think “big picture” and see how small changes can have ripple effects
• Strong communication skills, including:
• Close reading for details and analysis
• Listening for details and paying heed to statements that may seem trivial
• Articulate speaking and oral presentation skills
• Clear, compelling writing style
• Able to translate complex data into actionable intel for decision-makers
• Strong telephone and email etiquette
• Integrity and confidentiality (may be dealing with corporate trade secrets)
• Commitment to information assurance and information security best practices
• Interpersonal skills and team-orientation

Technical Skills

• Familiarity with methods for obtaining customer input
• Knowledge of analytical software tools to extrapolate usable info from Big Data
• Knowledge of database user interfaces, query software, or information retrieval/search software
• Ability to forecast sales using information gleaned from multiple sources
• Able to accurately predict problems and generate feasible solutions and ways to implement them
• Understanding information assurance and security protocols
• Ability to qualify for a security clearance for sensitive positions

• Large companies and other organizations
• Computer and software makers
• Educational institutions
• Finance and insurance businesses
• Publishing agencies
• Wholesale trade businesses    
• Military units

Organizations that employ Marketing Research Analysts rely on them to keep operations profitable and to reach new customers. It is the analysts’ job to ensure products and services offered are meeting customer demand and to suggest solutions when they aren’t. A slump in sales can lead to severe impacts across the board, resulting in potential layoffs or even bankruptcy in worst-case scenarios. 
 
There is pressure for workers in this field to be highly-qualified and stay informed of current trends. They must accurately predict future trends, anticipate problems, and be able to generate ideas to keep the boss’s business ahead of the competition. At all times, Marketing Research Analysts need to be on their “A-game,” staying away from market issues that could negatively affect sales at any given time and without much notice. 

As technology continues its march to invade every aspect of our lives, consumer decisions are constantly impacted and altered. From the ways we’ve shifted from buying things online to the items and services we are inclined to spend our money on, technology has reshaped the business world. This trend will continue into the foreseeable future, meaning Marketing Research Analysts must keep their fingers on the pulse of modern consumer behaviors. 
 
By the same token, technology has affected how companies conduct research into markets, and how they perform marketing actions. Many social media platforms such as Facebook not only capture user data to be analyzed by marketers, but they also serve as platforms to market directly to those users through targeted ads. YouTube, Instagram, Quora, and other mobile apps continue to change how businesses reach potential clients no matter where they are. That’s why employees in this field need to maintain currency as the tech evolves. 

Marketing Research Analysts likely possess what True Colors labels as a Power Combo of personality traits. They were probably “analytical” yet “creative” growing up, able to access both hemispheres of their brains to come up with ideas and solutions that seem “out of the box” yet were based on hard data and insightful observation. These personality types may have excelled in academics and also been successful in assisting with extracurricular activities. They’re interested in putting their skills to use to help improve situations and empower others to do well.  
 
As with any analyst field, those interested in such careers would have been comfortable working alone for periods of time, studying and diving into minor details in order to find larger truths. However, since they’ll need to be able to translate their findings into compelling presentations, they might have been great writers and great public speakers. Some may have been interested in theater or other performance arts, as well as anything to do with business, marketing, “behind-the-scenes” trivia, and even debate or chess clubs.