Interested in Marketing? Read This.
Marketing is becoming increasingly more valuable in the internet age.
For MBAs, a career in marketing can offer opportunities to integrate data and creativity. According to the QS TopMBA.com Jobs & Salary Trends Report, 38% of new MBA jobs were in marketing roles, making it the second-most common job function after sales and business development.
But what exactly should MBAs interested in marketing know about the career?
Cary Rosenzweig, Chief Revenue Officer at Zuman, a small business software and services company, recently spoke to Forbes about questions every prospective marketer should ask themselves.
WHERE IS MY CAREER HEADED?
Rosenzweig says it’s critical for MBAs to map out their career goals and align the skills they need to reach those goals.
“How does each career step move you toward your goal? You will achieve your long-term goals by having important skills that take a long time to achieve,” Rosenzweig tells Forbes. “I’m talking about a 30-year career path. I know that’s hard for someone who hasn’t yet blown out 30 candles on a birthday cake to consider this long view. Focus on developing your skills at the beginning of your career. You take these with you, and nobody can ever take them away.”
WHAT SKILLS DO I NEED?
Once you’ve mapped out your career goals, you’ll need to see what skills you need to develop to reach those goals.
According to Rosenzweig, marketers generally needs skills related to the following: “deep customer insight, rapid prototyping and testing, strategic planning, agency and partner management, awareness generation, trial inducement, web ‘funnel’ development, testing and optimization of all steps and more.”
HOW PROFITABLE ARE A COMPANY’S PRODUCTS?
It’s also important to gauge the value of a company’s products. This can help you understand the marketing budget at a company, Rosenzweig says.
“Products with high marginal profits tend to have large marketing budgets,” he tells Forbes. “It makes sense since each marginal product sold drops big profits to the bottom line. Products with relatively low marginal profitability cannot sustain bigger marketing budgets, so they cannot attract and retain top marketing talent. So, you won’t get good experience and training.”
Check out Rosenzweig’s full list of questions for prospective marketers at Forbes.