Data analysis: Marketing Teams’ Biggest Skills Gap

Data analysis: Marketing Teams’ Biggest Skills Gap

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According to Marketing Week’s 2023 Career and Salary Survey, marketing teams face a significant skills gap in data analysis. More than 3,000 respondents participated in the survey, with 34.4% identifying data and analytics as an area needing improvement. This issue is particularly prevalent in businesses with a mix of B2B and B2C, where the figure jumps to 39.6%.

Content Creation and Social Media Skills Also Lacking

In addition to data analysis, the survey identified content and copywriting skills as a significant skills gap for marketing teams, with 21.4% of respondents indicating that their business had identified it as an area for improvement. Social media skills were also lacking, with 20% of respondents identifying it as a skills gap.

When looking at the breakdown by B2B and B2C marketing, the order remained the same, but the percentages differed slightly. For B2B marketers, content and copywriting skills were the top skills gap, followed by social media, performance marketing, and e-commerce. For B2C marketers, social media skills were the second highest skills gap, followed by content and copywriting, performance marketing, and e-commerce.

How Businesses are Addressing Skills Gaps

The survey also looked at how businesses are addressing these skills gaps. 43.7% of marketers said their businesses were hiring external talent to fill the gaps, while 34.1% were upskilling existing staff. 31.7% were employing consultancies and freelancers, while only 11.8% were conducting a skills audit.

When asked about the emergence of new functions within businesses to address skills gaps, only 10.7% of respondents said this was true for their business. Of those respondents, data and insights were the top emerging function, followed by e-commerce and digital, content, strategy, and social media.

The Importance of Data Analysis in Marketing

The increasing importance of data analysis in marketing is not a surprise, as brands strive to get closer to their target customers. With more and more data available, the ability to analyze and make sense of it is crucial for creating effective marketing campaigns and strategies.

Businesses that neglect data analysis risk falling behind their competitors, as they may miss important insights into customer behaviour and preferences. It is essential for marketing teams to prioritize data analysis skills and ensure that they have the expertise to make the most of the data available to them.

Conclusion

In conclusion, the 2023 Career and Salary Survey highlights the significant skills gap in data analysis for marketing teams, as well as the importance of content creation and social media skills. Businesses can address these gaps by hiring external talent, upskilling existing staff, and employing consultancies and freelancers. The emergence of new functions within businesses to address skills gaps is relatively low, with data and insights being the top emerging function. As data analysis continues to play an increasingly important role in marketing, businesses that prioritize these skills will be better equipped to succeed in today’s competitive marketplace.