Who is a Marketing Manager?
To succeed in today’s complex business world, a marketing manager has to satisfy and please so many stakeholders. From the CEO, to clients to customers, the marketing manager is responsible for reaching them all. But to do it, they have to know a little about a lot of channels.
They must be fluent in content marketing, PR strategy, digital campaigns, traditional marketing deliverables and more.
That’s not even mentioning the actual creative vision to make it happen–the ideation, conceptualization, execution, distribution and refinement of campaign messages.
It’s important to understand how much a marketing manager does before deciding how much a marketing manager should make.
Simply put, a marketing manager is a creative yet organized professional who is in charge of the marketing resources for the company to enable sales and help with the company’s image in the eyes of customers, clients, employees, leadership and other stakeholders.
What makes a good Marketing Manager?
Marketing managers must balance day-to-day demands while keeping big picture strategy goals at the forefront. Successful marketing managers should possess these traits, and cultivating these skills would help entry-level or junior marketing managers achieve their goals.
- Be collaborative. Corresponding and working with various teams is an essential part of a marketing team’s role, especially with product and sales to evaluate needs and complete competitive analyses.
- Be strategic. Marketing managers are the keepers of the brand. They refine brand values, enforce brand guidelines, lead the product positioning and develop value props. Understanding the company’s strategic goals will inform these decisions.
- Be detailed. Execution of the plans is what differentiates a marketing manager from their superiors. Marketing managers are responsible for every element of the plan–especially from a logistical standpoint. They will assign responsibilities to their team and then follow up with their team on execution. This includes creating and monitoring budgets and checking on logistical details such as with event planning and tradeshows.
- Be good communicators. Because marketing managers are leading most of the campaigns and marketing efforts, it’s important that they are good communicators themselves–both to internal and external stakeholders. This includes setting clear objectives, assigning tasks and managing projects to employees, while also creating messages and campaigns for prospects, leads and current clients.
- Be creative. Because they review and supervise creative output, marketing managers should be well-versed in fundamental copywriting and design principles to successfully work with creative services teams, and offer their own ideas.
- Be accountable. Marketing managers are responsible for the success (and failure!) of their campaigns and marketing initiatives. Generating reports and following up with the next action steps fall to the marketing manager as well.
- 194,000 marketing managers are currently in the U.S.
- The need for marketing managers will grow by an estimated 9.4% over the next 10 years
- Between 2014 and 2022, almost 20,000 new marketing manager jobs will be added to the economy
- About 45,000 marketing managers will retire in the next decade
- California has the most marketing managers – almost 38,000 of them.
What is the Average Annual Marketing Manager Salary? $128,000.
The average annual salary of a marketing manager in the US today is $128K. More organizations are looking for and placing a higher value on marketing managers to help their departments and companies.
What affects pay and salary?
- Talent and skill. Those with more experience with proven successful track records with campaigns will demand higher pay and because there is a need, companies will pay more for those elite skills.
- Education. Some marketing managers will have B.A. or possible M.B.A’s in marketing, depending on the size of the organization. Other fields that transition well to marketing managers are majors in communications, advertising, journalism or public relations.
- Location. Place also affects the salary of marketing managers which is affected by population, cost of living and density. For instance, marketing managers in San Jose, California and New York City can make anywhere between $187,890 and $207,000 a year, which is significantly higher than the national average.
- Industry type. Marketing managers in securities and commodities, oil and gas, and information technology pay marketing managers more than average.
Seniority and Experience Impact Marketing Manager’s Salary
Just like many other fields, marketing managers have a variety of levels and roles that can have salary ramifications. Here are a few of those positions with their salaries:
- Entry-Level Marketing Managers: These individuals are typically asked to work with an experienced professional and assimilate knowledge from them. It’s essential that a marketing manager learns about brand values, positioning and guidelines from someone who can guide younger workers. Entry-level managers may make up to $66,090 per year.
- Junior Marketing Managers: Junior marketing managers typically have three to five successful marketing campaigns to their credit. They do lead their own team but are required to report to the senior marketing manager before making bigger campaigns that could impact the company. Junior marketing managers are paid around $91,420 per year.
- Experienced Marketing Managers: These professionals may have led up to 30 successful marketing campaigns. There is usually no official distinction between the duties of a junior marketing manager and an experienced marketing manager. The difference lies in how much sway their opinions hold with the management and the freedom they are given in working with their teams. The annual salary of an experienced marketing manager is close to $128,750 per year.
- Senior Marketing Manager or Portfolio Manager: This individual reports directly to the Chief Marketing Officer (CMO or the Vice President of Marketing. A portfolio manager is responsible for guiding and directing multiple brand and marketing managers. If a company boasts several brands under its umbrella like Procter & Gamble does, then there might be a senior marketing manager or portfolio manager for each segment (healthcare, food and beverages, cosmetics). This post calls for direct accountability for the revenue stream of the company and the compensation is around $175,000 per year.
More Helpful Online Salary Tools:
How Can You Earn a Higher Marketing Manager Salary?
Even if you are doing exceedingly well in your career, there is always scope for improvement. Here are three ways in which marketing managers can increase their income potential:
- Acquire Skills Aggressively: The Bureau of Labor Statistics says that over 84% of marketing managers have only a bachelor’s degree. Marketing automation leader HubSpot suggests that skill-driven marketing managers earn 260% times more than their counterparts who depend on seniority for promotions.
- Take the Lead in Product Development: Marketing managers who go out of their way to suggest new product features and opportunities will quickly be recognized as important people to keep. Some brands are even recognizing and compensating creative genius more frequently and lavishly than in the past. This is your time to capitalize on this shift.
Read and Learn: As a marketing manager, it is essential for you to stay up-to-date on the latest research and techniques. This list is a great starting point. This will help you create campaigns that resonate with your core audience using the latest and greatest tools.
The fact is…
Being a marketing manager is one of the most creatively satisfying jobs in an organization. A smart and reasonably tech-savvy person with good people skills can succeed.
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