Veterans of the marketing industry have great upward mobility potential, and many advance into a role as a marketing manager as their career begins to mature. This position is perhaps the most crucial one within a company’s marketing department, with a series of key responsibilities that determine product development, product placement, promotional strategies, and even advertising budgets. The marketing manager, like the traditional marketer, must always ben tuned in to what customers want, what they’re willing to pay, and when they’re willing to build brand loyalty. To that end, there are a few essential functions required of this position.
Budgetary Review for All Marketing Expenses
The marketing manager needs to be aware of the company’s financial position, and they need to understand how that financial position affects they’re ability to conduct market research, hire new staff, enact marketing campaigns, and leverage the company’s bottom line to further its competitive position. They’ll spend a significant amount of time allocating funds to various tested and experimental marketing initiatives and, like most other corporate departments, they’ll frequently work with executive leadership to secure more funds for a campaign that they believe can help their organization outpace the competition.
Market Analytics and Position Analysis
All companies need to know exactly where they stand with consumers and competitors in order to draft a robust marketing plan that experiences measurable success. For this reason, managers in a marketing department must look at the company’s current data: What are the demographic groups most responsive to its current efforts? How many consumers can identify the brand’s logo with only a visual aid? How many purchases or new leads are generated by each marketing campaign currently running on various media? By reviewing the analytics, managers can then analyze the company’s position and determine new areas of opportunity.
Campaign Generation for Competitive Advantage
With a thorough understanding of the company’s market position, the manager can start talking with subordinates about how to best reach new types of customers, launch new types of products, and advance in front of other competitors. Campaign generation is a significant part of the marketing manager’s job, and they often have “veto power” over campaigns that they don’t believe will accomplish their goals effectively. Managers spend a significant amount of time in the campaign generation role, alongside subordinates, as they work together to create a creative, competitive way to tell the company’s story and sell its mission in the marketplace.
Management of Staff is a Key Responsibility
Finally, it’s important to remember that a marketing manager must manage more than just the company’s market position and its marketing campaigns. In fact, they’re responsible for overseeing the broad scope of the company’s marketing operations and staff members. They’ll create a goal-oriented atmosphere, evaluate the work ethic and dedication of employees, and ensure that the department is working efficiently with its budget. Managers will often have the final say on both hiring and firing as well.
Related Resource: Market Research Analyst
A Great Role in the Corporate World for Seasoned Marketers
According to US News and Wold Report, management of marketing campaigns can be an exciting position for those with a long history in the industry. Professional marketers often live for new data, enjoy setting new campaigns, and like shaking up their industry with competitive new offers or exciting new products. As a marketing manager, all of these things will become part of the daily routine at today’s leading corporations and small businesses alike.