Marketing Week’s 2023 Career and Salary Survey has found that marketing strategy is the most undervalued skill by businesses, according more than half of the 3,000 marketers who participated in the survey.
The survey also found that brand management (43.1%) is the second most undervalued marketing skill, followed by data analysis (32.9%), advertising and marketing technology (22.8%), commercial acumen (21.4%), performance marketing (18.2%), and profit and loss management (15.9%).
Business Undervalue Marketing
The survey also found that the percentage of marketers who believe businesses undervalue marketing strategy varies depending on the type of business. The figure drops to 46.7% for B2C marketers, but reaches 52.4% of B2B marketers and 54.9% for those working in businesses with a mix of B2B and B2C.
Brand Management
Similarly, brand management is undervalued by 43% of B2B marketers, while 41.5% of B2C marketers and 44.8% of businesses with a mix of B2B and B2C agree.
Data Analysis
Data analysis is also highlighted by 32.9% of marketers as being undervalued by their business, with more B2B marketers (33.4%) than B2C (28.4%) saying businesses undervalue data analysis. 36.6% of marketers with a mix of B2B and B2C suggest it is an issue.
Key Findings
- Marketing strategy is the most undervalued skill by businesses, according to 51.5% of the surveyed marketers.
- Brand management (43.1%) and data analysis (32.9%) are the second and third most undervalued skills, respectively.
- The percentage of marketers who believe businesses undervalue marketing strategy varies depending on the type of business.
- B2B marketers are more likely to think that businesses undervalue brand management and data analysis compared to B2C marketers.
- Advertising and marketing technology, commercial acumen, performance marketing, and profit and loss management are also considered undervalued by some marketers.