Marketing managers play the key role of creating or supervising advertising campaigns, which companies use to brand themselves or sell their products. Marketing managers may be responsible for overseeing the promotion of a single product, an entire product line, the company brand, or the entire business.
What They Do
While marketing managers typically have the freedom to create an entire campaign on their own, they often have a team to conduct market research and to work on certain aspects of the project. The role of marketing managers is, understandably, to manage; they employ this team so they can remain objective about the scope of the given campaign. They have autonomy over the selection of their team, so marketing managers must be very adept at interviewing, evaluating, and maintaining relationships to get the most out of the group.
Organizational abilities are the foundation of the marketing profession. Whether maintaining mailing lists, collaborating with product managers on their creations, conducting and analyzing market research, or implementing an advertising campaign, marketing managers work across channels and must collaborate and communicate with key stakeholders both internally and externally.
Career Growth
Jobs for marketing managers are expected to grow about 13 percent by 2022. As markets continue to become more crowded and competitive, organizations will need to investigate alternative methods of branding themselves, which will allow more employment opportunities. To improve the chance of landing a position, individuals can increase their knowledge about how to conduct a digital campaign that targets social media and websites.
Salary Potential
According to the Bureau of Labor Statistics, the median wage in recent years has been around $119,000; the top 10 percent of marketing managers have made around $187,200. Most marketing managers work full time and make more than their counterparts in advertising or promotions, who average $88,000-$115,000 a year. PayScale reports that prospective marketing managers can expect to earn an average of $50,000-$55,000 their first five years; if they stick with the career path, they typically experience a $25,000 increase in their annual salary by the end of 15 years.
Education Required
Marketing managers should have a degree in a related field, preferably a bachelor’s in business. With a business degree, marketing managers will be able to take classes focusing on best practices in marketing, as well as gain an understanding of fundamental business principles, such as finance and project management. The right program will focus on real-world application of these skills, and will have professors with industry experience.