With a "faster than average" job rate of 10% growth from 2016 to 2026, professions in advertising, promotions, and marketing management are projected to stay healthy according to the United States Department of Labor's Bureau of Labor Statistics. While print advertising through mediums like newspapers and magazines have essentially flatlined and do not show any signs of improving, digital advertising through online and mobile sources will continue to skyrocket over the coming years. "With a strong 9.9% compound annual growth rate (CAGR) from 2016 through 2021, online advertising will be a $116 billion market by end of the forecast period, per the report. That would make it more than 50% larger than the TV advertising market at that point." This is in stark contrast to the market shares for television ($71 billion), newspaper ($16.8 billion), radio ($18.2 billion), and magazines ($16.6 billion). As marketers continue to take advantage of online opportunities for marketing, like video-content sites, apps, and social media, the world of advertising will continue to remain lucrative for marketing managers seeking lucrative and stable careers.
But what is the best way to begin a career in marketing management? How does one get their foot in the door of this industry that will continue to need educated and experienced managers? Here are two important avenues for preparing for a successful career in marketing management.
Pursue a Degree in Marketing Management
Marketing plays an enormous role in an organization's success. While many of the nation's best positions in advertising, promotions, and marketing management require an undergraduate degree in marketing, it is a Master's in Marketing Management that will best train business professionals in the crucial areas of marketing, like developing a company's customer base and researching the needs of the target market, coupled with the foundations in business management. A graduate degree in marketing will not only lay a foundation for tried and true business principles, it will often include cutting-edge relevance as modern business case studies are researched and projects are carried out through individual and cohort-based tasks. Besides a stellar curriculum, many of the nation's top business schools provide its students with networking environments which can develop into future employment opportunities.
Find an Internship or Entry-level Position in Marketing
One of the best ways to see if a career in marketing and marketing management is for you is to apply for a position as an intern, volunteer, or low-level employee in a marketing environment. Because advertising and marketing play such an important role in the success of many organizations, positions with media groups like a newspaper, magazine, television station, or online company is a great way to start building a resume. Focusing on one position which interests you and seeking a mentor-type of relationship with someone in that field can also be helpful for knowing if it would be a good fit for your future. For instance, "advertising managers create interest among potential buyers of a product or service. They do this for a department, for an entire organization, or on a project basis (referred to as an account). Advertising managers work in advertising agencies that put together advertising campaigns for clients, in media firms that sell advertising space or time, and in organizations that advertise heavily." To shadow someone in this field can help clarify if it is a good career choice. Similar positions within a campaign or advertising agency will not only reveal how an organization operates but will also give a volunteer, intern, or employee the chance to meet professionals in the field. Working relationships with successful business managers, politicians, company leaders, and entertainment producers can often result in glowing recommendation letters and future referrals.
It has never been a more exciting time to consider a career in marketing management. By considering a quality education and viable experience in this field, a business professional can expect a bright and satisfying future.