Transitioning to the Field of Market Research

Posted on Nov 12 2019 - 5:50am by Admin

You’re working for a brand design studio based in Phoenix, Arizona. You’re one of the leads in the creative department. You’ve worked on visuals for websites, large format signages, book covers, product labels, and other similar projects.

You love your work, using the tools available, and working with fellow creative people. But it’s something that you’ve done for the past three years, and you are looking for a different challenge. You’re a self-taught artist, which was the reason why you landed a job in the creative field. You also studied research and statistics in collegae. You are considering making a career shift and explore the possibilities in the field of market research. Will your previous studies help you in this transition? How do you become a successful market research analyst?

Here are a few things you need to consider:

An Overview of the Market Research Industry

It seems that you will be joining a sunshine industry as market research is showing a steady upward trend for the past five years. Employment in the sector is almost at 597,000, with more than 44,150 businesses across America.

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The median salary for the profession is slightly more than $63,000 annually. Those that moved up the corporate ladder in this role earn upwards of $120,000. It doesn’t look like a bad proposition, this career shift you’re contemplating.

Transitioning: What You Need to Know

job interview

The Bureau of Labor Statistics estimates that growth for the profession is at around 23% by 2026. That might mean more competition or more opportunities. Here are a few things you also need to consider.

  1. Education and skills. Your background in research and statistics will undoubtedly be helpful. But you must also be skilled in writing and creating a compelling narrative. People who studied economics, marketing, political science, and psychology will also be suitable for the role as these fields form the intersection of educational backgrounds of market researchers. You need a high level of problem-solving and analytical skills. Likewise, knowledge of relevant statistical software is beneficial.
  2. Work environment. Working with a team or alone are possible work settings. There’s going to be plenty of time working facing the computer, but you would need to communicate with people you are working closely with effectively.
  3. Knowledge facilitator. Experts suggest that it’s not all about market research, per se. Market researchers must understand the business landscape of the clients and are therefore able to present the problems that may have incited the study in the first place. The ability to communicate those insights about business issues is valuable to the client.
  4. Further studies and certification. If you haven’t completed your bachelor’s degree, that should be a focus. International market research associations offer training and certifications. Get certified to add to your credentials. If you see yourself in a leadership role down the road, then an MBA or relevant advanced degree will be useful.
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These are four key areas that you can focus on as you figure your transition to the field of market research. The field tilts heavily on the use of brainpower, particularly problem-solving and analysis. Perhaps this was the change you were looking for.