If you thought ushering the 2020s in with a global pandemic would be the unlikeliest thing to happen for a while, you weren’t alone. But even as 2023 gives way to 2024, unexpected and unexplainable things remain in the air for businesses and their marketing teams.
While the pandemic devastated industries like travel, tourism and hospitality, it created a boom for segments like B2B technology, home goods retailers and home improvement businesses. But with every rise comes a fall, and areas like tech felt the pain in 2023. We didn’t even mention inflation, interest rates and global political instability.
Layoffs in the technology sector alone totaled nearly 250,000 jobs according to Layoffs.fyi. Job losses also piled up in sectors like financial services and bricks-and-mortar retail. It’s often the case that marketing is among the first areas of an organization to be impacted by job cuts, and that seemed to hold true this time around.
But job losses aren’t the only thing impacting marketers and their broader organizations these days.
The AI explosion. Is it a tool? Is it a job killer? Is it a skill that marketers need to master? It might be all of the above. It can help teams scale and move faster, and it helps automate manual tasks. But many of the tasks were previously done by people.
Scrutiny of martech stacks and other investments. When budgets are getting slashed, tech investments get a long, hard look. Contracts up for renewals and new deployments need to show rapid ROI or they don’t stand a chance.
Changing the channels. One of the most impactful social media channels lost a significant number of advertisers when Elon Musk took over the platform. In early 2024, Google and Yahoo are looking to implement new rules for email senders.
Against this backdrop, we want to hear about your marketing career.
This year’s survey will take just a few minutes to complete. We’ll release the survey results, along with analysis from Scott Brinker of chiefmartec.com, in the first quarter of 2024.
The post How did a tumultuous year impact marketers? Take the MarTech Salary and Career Survey appeared first on MarTech.
The marketing industry has seen a tumultuous year, with the COVID-19 pandemic causing significant disruptions to businesses and economies worldwide. As a result, many marketers have had to adapt to new ways of working, with remote work becoming the norm for many. This has had a significant impact on the salaries and career prospects of marketing professionals.
A recent MarTech Salary and Career Survey has revealed that despite the challenges faced by marketers in the past year, salaries have remained relatively stable. The survey, which included responses from over 2,500 marketing professionals, found that the average salary for a marketing professional in 2021 is $85,000, which is only slightly lower than the average salary of $87,000 in 2020.
However, the survey also found that there has been a significant increase in the number of marketers who have experienced a pay cut or a reduction in hours. In 2021, 21% of respondents reported a pay cut, compared to just 9% in 2020. Additionally, 17% of respondents reported a reduction in hours, compared to 8% in 2020.
Despite these challenges, the survey found that many marketers are optimistic about their career prospects. Over half of the respondents (53%) said they are confident about their job security, and 60% said they are confident about their career growth opportunities.
The survey also found that the pandemic has accelerated the adoption of digital marketing tools and technologies. Many marketers have had to quickly adapt to new digital marketing platforms and tools to reach customers in a virtual world. This has led to an increased demand for digital marketing skills, with 72% of respondents saying that digital marketing skills are more important now than they were before the pandemic.
Overall, the MarTech Salary and Career Survey reveals that while the past year has been challenging for marketers, there are still opportunities for career growth and advancement. Marketers who can adapt to new technologies and digital marketing tools will be well-positioned to succeed in the post-pandemic world.
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