In a business world ravaged by the pandemic, where inflation and other economic concerns are pushing costs higher than ever before, many companies are facing the unfortunate decision of having to make redundancies and streamline their workforce. In many cases, the most employable individuals are those that have many strings to their bow — who can excel in a number of areas and, in a fashion, become more than just a standard employee.
The recruitment sector often speaks of diversifying into new areas of expertise, and to achieve that additional courses of study — like an Online Master’s in Marketing — is one way in which you can add new skills and competencies at a time and pace to suit you. A marketing course blends the old with the new. You can learn about content strategy and how to understand your company’s customers better, but also attain more contemporary skills in data analysis, social media management and branding in a digital world.
These are competencies that not only boost your resumé and add those extra strings to your bow, but they are also elements that many business leaders and directors will want to utilize in these difficult times for trading — hence why a marketing degree really does unlock stacks of potential for any individual in the jobs market.
On the crest of a wave
They say that, in life, timing is everything.
And you could not time your move into the marketing field any better than by taking the plunge right now, as the amount that companies are splurging on advertising and promotions is reaching record highs.
Analysts have revealed that 2021 was a record year for ad spending, and forecasts confirmed that there was to be no let-up in 2022 either. The ad market in the US is set to exceed $300bn for the first time, while globally the spend on marketing could top $700m in this year alone.
So, if you want to ‘futureproof’ your career, an appreciation of marketing and its various tenets will stand you in excellent stead.
It is interesting to note that the overall marketing spending of companies is still split across the various disciplines. Search engine optimization still leads the way, with around $100bn allocated to ranking higher on Google and other sites. Social media receives around $60bn in marketing spend each year, while video advertising — be it on TV or via channels like YouTube — is allocated around $80bn per annum by decision-makers.
Spending on audio ads for radio and podcasts is also on the up, while some firms — depending on their industry — are still utilizing traditional marketing methods like print media and billboards.
If you needed any further persuading about the ongoing power of marketing, the spending on a 30-second TV advert during the Super Bowl has trebled in the past 20 years — up to a staggering $6.5m in 2022.
Like we say, while some industries and job roles converge or disappear entirely, the role of the marketer is ensured a prosperous and busy future.
The holistic approach
Some job roles and professions have a ‘universal’ quality to them.
It doesn’t matter whether a company is a leading-edge media empire or a paper merchant, some departments — think marketing, accounting and sales — exist across the board.
Expertise in a generalized or specific area of marketing will ensure you have job prospects in hundreds of different industries, possess the transferable skills that enable you to operate seamlessly in different states or countries, and allow you to be an integral part of a company or take on the whole ‘digital nomad’ thing and work remotely from home.
The breadth of the marketing sector is such that you can move fluidly between roles within it. Having studied a related degree in the subject and/or gained some real-world, on the job experience, you may well have become a strong communicator — this can take you from social media management to branding, to copywriting, to PR advising.
Another aspect of marketing that is becoming increasingly important in the digital world is analytics, and again a marketing degree will set you up with the skills you need to be able to interpret data and provide valuable insights into how your customers behave and what their expectations are. By going the extra mile and adding certification to your bow, be it from Google’s Academy or another source, you again add employability and additional skills to your cache.
As the global jobs market evolves and, in many cases, converges, you will need to be able to showcase flexibility and fluidity in what you can offer an employer. A marketing degree is so generalized, yet with so many vital elements in a wide array of areas, it could be considered an essential component of your future plans.
Sell, sell, sell
When you think of sports like hockey and soccer, these are team games where all the different players on a roster play a role. Ultimately, though, it is those that put the puck or the ball in the back of the net that take all the headlines and the plaudits.
Marketing is the living embodiment of that concept in the business world. Often, salespeople will go and make their company money by persuading buyers to part with their hard-earned cash, but it is the marketing professionals that provide the assist.
From quality branding strategies and ad campaigns to data-driven insights, it is the job of the marketing department to feed the sales team with the materials and information they need to get a deal over the line — there is plenty of satisfaction to be taken from that, albeit not as much of the glory.
The modern marketer is savvy, agile and creative, and can turn their hand to many different tasks and projects with ease — invaluable to any employer worth their salt.
The marketing pro can easily move between companies and industries too, armed with the skills and knowledge that will make them an asset for years to come.