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If you have a passion for marketing and advertising and want to work for some of the top businesses around, you might consider a career as a consumer insights analyst.
Also known as a customer insights analyst, these professionals help companies market new products and respond to feedback from customers to ensure that they get exactly what they need. Those working in this field usually have a business degree and some advertising experience, but you may also find work as an analyst with an MBA in marketing and less experience.
Types of Analysis
Professionals working in consumer analysis work in one of several areas. Impact assessment looks at how customers feel about companies and what companies can do to influence their thoughts. This is especially common in companies that make major changes like eliminating one product from its line or changing its logo. Another field of study is cross-sell analysis, which looks at which methods and techniques will entice customers to spend more money and purchase multiple items together. You may look at customer retention as well and what companies can do to increase loyalty among customers. These professionals also look at what impacts how and why a customer acts in a certain way and what businesses can do to change their behaviors.
Where They Work
Advertising and marketing firms often hire analysts willing to work with several businesses at the same time. As a marketing executive, it’s your responsibility to meet with clients to find out what they need from you and then lead a team of employees to do research and come up with new ideas for them. Several companies also hire analysts to work in their marketing departments. When you work for a specific company, you might create advertising campaigns for new products, research loyalty programs and exam customer behavior.
Related: What Can I Do with an MBA Concentration in Customer Experience Management?
What They Do
What you do every day depends on your employer. Most analysts do some type of market research like focus groups. Focus groups consist of multiple customers who come into the meeting. You will show them different ad campaigns, product packaging and other items. The customers will give you their feedback, which you then use as the basis of the report that you show your clients. Analysts may also go out into the field and visit shops or stores to look at the placement of products in those stores and how customers respond. Your employer may also request that you create surveys that go out to customers.
Salary Range
As you need an advanced degree to become a consumer insights analyst, you can expect to make more than you might in an entry-level position. The national average for this position is around $64,000 a year, but the salary among these professionals ranges from $51,000 to more than $75,000 a year. The top employers in this field include major corporations like American Greetings and Kraft Heinz. In addition to your base salary, you may receive bonuses or benefits in the form of paid vacation time and health insurance.
Not everyone who studies marketing works on ad campaigns for print and media. Some of those graduates increase the reputation and popularity of businesses. Working as a consumer insights analyst is a good choice for those who have strong research skills and can work effectively with both customers and businesses.
