Nike or Adidas? Dunkin’ Donuts or Starbucks? Samsung or Apple? These competing brands are famous for their rivalries. So, what makes a customer choose one brand over its competitors? Marketing is a business’s best friend.
Old-school marketing techniques like radio ads and direct mail still work, but with so many digital options for connecting with customers today, marketers need more skills than ever. Earning a Master of Business Administration (MBA) with a marketing focus can make candidates more marketable to top companies.
Barry University offers an MBA in Marketing online program that supports students in advancing their careers without leaving their current jobs. In as few as 12 months, students can graduate with the knowledge, analytical techniques, and technical skills to advance a marketing career to the next level.
5 Ways New Graduates Can Make Impactful Marketing Decisions
Marketing managers have one of the most critical roles in helping companies get ahead. In the ever-evolving digital marketing world, this is a career that offers something new every day. Following is a look at five strategies for reaching marketing goals:
- Influencer Marketing: This cost-effective strategy can produce a significant return on investment (ROI). Writing for Forbes, Josh Kohlbach notes a study that showed a four-time ROI after four months. That jumped to 11 times over one year.Influencer campaigns promote brands through influencers with a niche following. For example, a popular influencer with a passion for the planet may collaborate with “green” brands to promote eco-friendly products. Influencers can earn free products or cash payouts, such as $1,000 per Instagram post or thousands more in the case of a macro-influencer. More companies are turning to influencer marketing for its authenticity and high ROI.
- Product Placement: This marketing technique, also called embedded marketing, eliminates the “ad-skipping” issue by integrating branded products into TV shows and movies to create connections. Again, Apple is a shining example.According to AppleInsider, a single episode of the show Ted Lasso features the use of 36 Apple products. The strategy is also used effectively in video games. It is a creative way to reach members of Generation Z. YouTube music videos can get billions of views, making it another great option.
- Video Marketing: Like influencer marketing, YouTube videos help businesses reach the right audience. The following findings from the Hootsuite Global State of Digital 2022 report help explain the potential power of this marketing strategy.
- YouTube has 1.7 billion unique monthly visitors.
- Users spend nearly 20 minutes a day on YouTube.
- A total of 14 billion visits per month make YouTube the world’s second most-visited site.
To appreciate the impact of YouTube marketing, check out Nike’s “Never Too Far Down,” YouTube’s top ad of 2020.
- Infographic Marketing: Like blog posts, an infographic is content marketing that shares relevant, engaging information. But unlike blog posts that may have 2,000 or more words, infographics combine images, charts, diagrams, or other visual aids with minimal text — no need to worry about adding graphic designer to your skill set. Instead, companies like Canva offer professional timesaving templates.
- Get Creative: Data analytics is a must-have skill for every marketing manager. However, soft skills like creativity are just as important. In fact, according to LinkedIn’s 2019 Global Talent Trends report, creativity is in short supply, but it is the soft skill employers need most.
There are many ways for marketing managers to let their creative skills shine. As just one example, consider using gamification to engage customers. A company can gamify a mobile app to reward users for purchases (like buying coffee). In the process, gamification builds customer loyalty and generates valuable data.
Is Earning an MBA a Good Investment?
Marketing manager takes the number one spot in U.S. News & World Report’s Best Sales and Marketing Jobs. It also comes in at number 14 for Best Paying Jobs and 24 for 100 Best Jobs. Considering all the career options out there, these are some impressive statistics.
One reason for the high rankings is salary. According to the U.S. Bureau of Labor Statistics, marketing managers earn a median annual wage of $141,490, with the highest 10% earning more than $208,000. This compensation is substantially higher than the median salary for all occupations of $41,950.
As marketing continues to move from traditional channels such as billboards, radio, TV, and print, marketing managers with modern strategies and skills will be in demand. Earning an MBA with a focus on marketing can improve opportunities for these leadership roles.
Learn more about Barry University’s online MBA in Marketing program.