Hiring a good marketing analyst can be the key to being successful in your marketing to making huge mistakes which can cause a CMO his job and the company potentially millions of dollars. So how to identify the good from the bad?
Here are just 3 questions to ask when interviewing potential candidates to understand if they are the right fit for your marketing department:
- What is your first step when looking at a data set? The answer should be identify the objective of analyzing the data set. If you are looking at an Adwords campaign without a goal in mind, you will find many interesting trends and potentially insights, however, are those insights actionable? Simply saying CPC is too high and we need to cut the keywords that have CPC higher than X is the wrong strategy when the higher CPC keywords are the ones that are bring in most of the conversions. Therefore, if your goal was to maximize conversions, the strategy would actually be the opposite where more of the marketing budget will go towards high CPC keywords and the cheaper keywords will be stopped. Therefore, their first step is to identify what question or goal you are trying to achieve.
- What is the first action that you perform when you have established a goal for your analysis and have received a data dump from our internal CRM? The answer should focus on analysis of data’s integrity and understanding what steps are needed for data preparation. The analysis part is usually a small part of any analysts job, but rather understanding the data, identifying gaps in the dataset and making sure the data is in usable form is what separates a good analyst from the bad. For example, you may have a limited data set of 500 tweets from the past 3 months that are all in a text field. if your task is to establish trends in those tweets your analysts job becomes classifying each tweet into different groups and putting a sentiment analysis of positive, negative or neutral. To achieve this task you may wish to acquire third party software that does it for you, however, the cost of the software may not justify the purchase. Therefore, it is important to understand what the analyst is capable of doing and more importantly what he is willing to do in order to get accurate insights.
- What makes a good marketing analyst? The typical response you may get is strong attention to detail, data visualization skills, knowledge of data science languages such as R or Python or packages, having been trained in Google Analytics, Datorama and other BI tools, or my favourite having 20 years of experience working for your competition. The reality is anyone who is willing to learn and who is comfortable with numbers will be able to pick up a new BI tool, programming language and will be able to analyze any data regardless of industry or discipline.
Another option to hiring a marketing analyst is to hire a marketing analytics company who will handle your marketing analytical needs usually at a fraction of the cost of bringing a full time employee. StrategicDB is a marketing analytics firm that works with small and enterprise clients on their marketing analytical needs. Contact us today to see how we can help increase your marketing ROI.