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Market research analysts鈥攕ometimes called market researchers鈥攈elp companies develop or maintain a competitive edge by finding and delivering data-backed insights into potential markets, competitors, and even customer behavior.听

They鈥檙e an integral part of a company鈥檚 overall marketing strategy and are in demand across multiple industries. In fact, the US Bureau of Labor Statistics (BLS) anticipates that job growth for market research analysts will increase by 8 percent by 2033 [闭.听听

What does a market research analyst do?聽

Market research analysts pore over trending keywords, survey responses, social media mentions, and other data to find answers. Essentially, they transform information into actionable insights to help companies develop everything from competitive product launches to effective marketing campaigns.听聽聽

Each company鈥檚 needs differ, but your responsibilities as a market research analyst may include:聽

• Developing data collection tools and techniques聽

• Using data modeling tools

• Analyzing data sets and communicating findings聽

• Contributing data-backed insights to marketing strategy聽

• Conducting product testing and brand research聽

What type of research does a market research analyst conduct?

A market research analyst conducts qualitative and quantitative research. In other words, they gather statistical data and solicit responses about people鈥檚 beliefs, opinions, and experiences.听聽

An analyst鈥檚 research can span multiple areas, including:聽

Customers

Primary and secondary customer research鈥攅verything from demographics to opinions鈥攈elps a company develop more targeted marketing and align its products and services with customers鈥� differing needs. Market research analysts may also identify how companies find, acquire, and retain customers while avoiding churn鈥攐r customer loss.

Primary vs. secondary research: What's the difference?

Primary research is research you conduct yourself, building original tools or techniques to help you collect new information. Secondary research is published research someone else has done, like a government agency or research think tank.

Markets

As a company develops new offerings鈥攍ike products, services, or ideas鈥攎arket research about competitors, similar products, and potential sales can help successfully position each launch. Market research analysts investigate new and existing markets, learning as much as possible so they can deliver precise suggestions.听

Brands

Both new and established companies rely on brand research to strengthen their position in the market. Conducting a competitive analysis to see how a company鈥檚 brand fares against competitors and researching customers鈥� brand awareness and perception helps them remain competitive. Those findings can also yield insights into customer acquisition, retention, and loyalty.

Campaigns

Understanding how a company鈥檚 customers feel about advertising at all phases of a marketing campaign can produce specific messaging and, in turn, more impactful campaigns. While this type of research more typically falls under a marketing analyst role, market research analysts at smaller companies may sometimes analyze a company鈥檚 marketing strategy.

Market research analyst job description

Educational requirements, experience, and necessary skills are part of a market research analyst job description. Explore these two factors in more detail.

Marketing research analyst education and experience

Market research analyst jobs typically require a bachelor鈥檚 degree and two or three years of experience. More senior-level market research analyst jobs may require a master鈥檚 degree.

Majors that can prepare you for a job as a market research analyst:聽

• Business administration聽

• 贰肠辞苍辞尘颈肠蝉听

• Marketing

• Psychology

• 厂辞肠颈辞濒辞驳测听听

• Statistics

Market research analyst technical skills

As a market research analyst, you will need technical skills like statistical analysis, programming languages, and data visualization. You鈥檒l also need to know how to use tools for these and other skills, like data collection.

Data collection tools: Market research analysts gather data from an array of sources, including surveys, social media platforms, keyword trends, and audience insights. Market research analysts use Qualtrics, SurveyMonkey, Typeform, Google Trends, and SEMrush, among many other tools, to learn more about customers, markets, and competitors.

Statistical analysis: Because market research involves working with quantitative data, it鈥檚 important to understand how to apply statistical techniques to group your data into relevant and actionable findings. While you can choose from many programs, like the data visualization tools below, that offer a statistical analysis feature, it shouldn鈥檛 replace a more foundational knowledge.听聽

Data visualization: Once a market research analyst has collected relevant data, they need to structure their findings in a comprehensible way. Knowing how to use data dashboards or data analytics suites can help you convey important findings to other teams. Market research analysts use data visualization tools like Tableau, Qlikview, and Plotly.听聽

Programming languages: Although not always necessary, some companies do require market research analysts to know a programming language, such as R, SQL, SAS, or SPSS, which feeds into their data gathering and data interpretation efforts. Make sure to read over job descriptions to learn which language, if any, a company prefers.听

A course, like IBM鈥檚 Introduction to R Programming for Data Science, offered on 糖心vlog官网观看, can help you learn more about one of the most popular programming languages being used today for data analysis.听

Market research workplace skills聽

To be successful as a market research analyst, you will also need workplace skills. You will need to be able to analyze and interpret data, think critically, and communicate with your team.听

Interpretation: Parsing data is a critical part of a market research analyst鈥檚 role. After gathering the necessary data, you have to interpret those findings in light of a company鈥檚 product and marketing needs.听聽

Critical thinking: Conducting market research means knowing how to ask the right questions to find the best data, extract meaning from collected data, and then apply those insights to a company鈥檚 marketing strategy.听聽聽聽

Communication: Translating insights into recommendations that other teams can act upon will help in a marketing research analyst's line of work. A strong ability to speak and write clearly and constructively is an asset.听

Interviewing: Many market research analysts rely on digital surveys to glean customer responses, but the role can also involve conducting customer interviews or focus groups. Being comfortable speaking with strangers and getting them to open up about their experiences is a key skill.

What are the benefits of being a market research analyst?

Among the advantages of pursuing a role in this field are the available job openings and prospective salary. Take a look at both of these in greater detail.

Marketing data analysis job prospects

As companies continue to need insight into customer behavior to maintain their competitive edge, market research analysts will continue to serve an integral role. From 2023 to 2033, the US Bureau of Labor Statistics expects 88,500 job openings for market research analysts per year on average [].

Market research analyst salary

The median salary for a market research analyst in the US is $74,680, according to the US BLS, but salary can differ depending on the industry [].

Market research analyst vs. similar roles

Market research analysts share much in common with roles that also parse data and deliver strategic insights.

Marketing analyst

Although market research analysts are sometimes confused鈥攁nd even called鈥�marketing analysts, the two roles differ slightly. Marketing analysts focus internally on a company鈥檚 marketing efforts rather than externally on markets, but both roles use data to inform their recommendations.

Business analyst

Another role that relies heavily on data鈥�a business analyst analyzes large data sets in order to make recommendations that will strengthen a business鈥� processes and help it run more efficiently.听

Data analyst

A much broader role than the three previously described鈥�a data analyst typically works with large, raw data sets that the analyst must first clean in order for the information to yield important insights. Data analysts apply their findings to an array of organizational and business needs.

How to become a market research analyst

To become a market research analyst, you can gain experience in an entry-level role, learn technical skills, and take a course to develop your expertise. Explore these steps.听

1. Look for a related entry-level role.

While you may find some entry-level market research analyst roles, most employers tend to prefer at least two years of experience. If you鈥檙e interested in becoming a market research analyst, consider a related role to help you gain experience and grow more competitive. Working as a marketing assistant or data analyst can provide you with the experience necessary to move into market research analysis.

2. Brush up on related technical skills.

Knowing that market research analysts use specific tools to gather and assess data about customers, markets, and competitors, it鈥檚 a good idea to research the most popular programs and refine your knowledge of them. Watch tutorials, use free trials, and familiarize yourself with the tools of the trade.

Develop your technical skills with one of these Guided Projects, designed to be completed in two hours or less:

• Measure a Marketing Strategy Using Facebook Insights

• Create a Customer Service Survey in Microsoft Forms

• Create a Brand Awareness Survey in Qualtrics

3. Take a course.

Taking courses that expose you to key strategies of market research can help introduce you to the work of a market research analyst. This Market Research Specialization from UC Davis, available on 糖心vlog官网观看, might be a good place to start. Not only can you learn about what it takes to do market research and decide if it鈥檚 a good career option for you, but you鈥檒l also begin exploring the necessary techniques to succeed in the field. Or consider deepening your knowledge with a skill-specific series of classes, like the Tableau Business Intelligence Analyst Professional Certificate from Salesforce.

Explore marketing research analyst skills on 糖心vlog官网观看.

As a market research analyst, you will help companies strengthen their marketing strategy by using data to make informed decisions. If you鈥檙e a beginner in this field, a credential like the Meta Marketing Analytics Professional Certificate is designed for you to discover the aspects of market research such as data analysis, performance marketing, and generative AI in marketing analytics. Get up to speed on the key tools and techniques used in the profession while learning from industry experts at Meta.