Despite positive growth in digital marketing skills, sector demands outpace professional development
Marketers rely on core digital skills, but the growing demands of new and evolving technologies are contributing to a skills gap. Research published by Target Internet and the Chartered Institute of Marketing (CIM) indicates that. In this year's report, we analyze data gathered from more than 10,000 marketing professionals between 2018 and 2023 to highlight key trends, opportunities, and challenges in marketing.
The marketing landscape is rapidly changing, which impacts the skills marketers need
A separate study carried out by CIM, highlighted the complex environment in which marketers operate. One in five respondents (19%) stated they felt they didn't have all the skills required to perform their roles successfully. Almost four fifths (79%) believed the skill set required for the job had completely changed over the past decade.
Considering the multitude of emerging technologies that marketers are forced to adapt to - including generative artificial intelligence, Google Analytics 4, Web3, a growing martech stack, and a growing number of social media platforms - it is no wonder that the range of skills marketing professionals require continues to grow.
In times of economic uncertainty, companies have to dig deep and continue to invest in training and development due to the pace of development in the sector.
Despite growth in marketing skills, skills gaps persist
Social media (+8%), Ecommerce & Lead Generation (+5%) and Email Marketing (+5%) saw the greatest average improvement amongst key marketing disciplines, according to the report, while Content Marketing (+1%), Analytics & Data (+2%) and PPC (+2%) experienced modest increases.
Despite a general upward trend, digital marketing improvements remain relatively low and are still far from universal. Several disciplines have only seen a slight increase from pre-pandemic levels, and some areas still haven't recovered from the effects of the pandemic.
Marketing is undergoing rapid change, which makes it difficult for marketers to stay current and relevant, which impacts a company's ability to achieve business goals, thus affecting its bottom line. In order to remain competitive in the crowded market, teams need to invest in training on a continual basis.
Levels of skill gaps vary
Several levels of marketers improved their skills over the past year, but some junior roles regressed, illustrating the need for continuous training at all levels to update skills.
As compared to last year, intern skill levels have generally increased, with general marketing (+18%) showing the most significant increase.
There has been the least progress in Assistant/Graduate level roles, with scores drifting backward in four out of twelve areas, with Social Media (+9%) being the only area of significant progress.
While the Head of Department group made progress in all but one area of competency during the benchmark tests, those at the Director level demonstrated progress in all twelve areas of competency, placing them in line with, or above, the all-seniority average.
Ability vs. confidence
As indicated by the benchmark, most tech-driven marketing disciplines have a gap between confidence and actual skill levels. In Content Marketing, Usability and Social Media, confidence levels consistently outperformed actual abilities except in Marketing Theory, Email, Ecommerce and Lead Generation.
According to Daniel Rowles, CEO of Target Internet, this year's benchmark results highlight both promising opportunities and potential risks for all types of businesses. Those who embrace a culture of continuous professional development have a real opportunity to stand out, given the rapid pace at which technology is evolving. Furthermore, it reinforces the idea that cutting back on training investments is not an effective way to boost productivity or spur growth.
According to Chris Daly, CEO of the Chartered Institute of Marketing, there has been an increase in skills despite the challenges faced in recent years. While this is positive news, he believes that the findings of the report should serve as a reminder for marketers to invest in their training and development. The expectations for marketing professionals are constantly evolving, providing new avenues for driving change and showcasing the value of our industry. However, it is crucial for marketers to stay aware of the ever-changing landscape and prioritize professional development to avoid falling behind.
The demand for digital skills remains strong in a rapidly changing environment, so I urge marketers to invest in their own and their teams' skills."
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