The Next Era of Marketing: Driving engagement, experience and revenue
Marketers have seen their jobs transformed over the past ten years, from mass marketing to engagement marketing. The transformation is happening again — but faster this time. To help provide a big picture of the industry, we have synthesised various sources and data into a series of insights into the new era of marketing. Starting this week, we will kick off a three-week series sharing these insights, from business trends to salary overviews and career development.
According to The Economist Intelligence Unit's survey of almost 500 high-level marketing executives worldwide, more than 80% say they need to restructure marketing to better support the business. And 29% believe the need for change is urgent, and will occur in the following six areas:
Six major trends in marketing:
1/ Marketing is shifting from a cost centre to a revenue generator
2/ Marketing will become the Chief Customer Advocate in an organisation
3/ Marketing is moving from an era of mass marketing and advertising to an era of engagement marketing
4/ Marketing needs to invest in new digital skills and operational expertise
5/ Marketing must leverage technology to succeed in this world of individual engagement at scale
6/ Key technologies like Internet-of-Things and real-time personalised mobile technologies will shape the future of marketing
Diane Chan, Executive Director of Career Times Online Limited, said, "Marketers are in great demand nowadays. Among those 50,000 job vacancies found in the two major job portals as of March 2015, 10% of them are marketing related, of which 80% are entry-level positions with a monthly salary ranging from $12,000 to $25,000."
As shown in above figure, the highest workforce demand is in brand management, seeing 2,800 job openings as of March 2015; that is followed by the B2C sales sector with about 1,000 job vacancies, 600 vacancies in public relations and corporate communications, and 400 to 600 empty spots in the advertising account servicing field, including both general and digital executives.
While marketing seems like a sought-after industry, employees in this area are not paid especially well. Next week, we will have a comprehensive overview of marketing career paths as well as the always hot button issue — salary information.
Source: The Economist Intelligence Unit Limited
May 14, 2015