MBA students are generally assumed to be gunning for a position in management if they’re not going to work in finance. Yet a large number are preparing to work in marketing. Digital marketing and market analysis are two growing areas, but there are better opportunities for MBA students interested in marketing. A great opportunity would be product marketing. Here are 5 reasons why product marketing is a great career path for MBAs.
Companies Reward the Growth Marketer
Whether you’re working for a startup or an established firm, companies want new products to take off quickly. They can’t afford to have a tepid launch and end up with inventory they can’t sell, and they need the revenue that comes from high-octane sales growth. This is why firms reward those who can hack growth curves. You’ll earn far more than those who are doing sales support or consumer research.
There’s Always Demand for the Skillset
MBAs teach people a number of skills you can use almost anywhere. The list includes but is not limited to:
- Business analysis
- Team leadership
- Strategic thinking
- Marketing
- Partner management
- Sales funnel management
- A/B testing
All of this is used in product marketing. More importantly, nearly every business is in need of product marketers. They may need these skills to offset the declining sales of a flagship product or for the launch of a new one. Yet this means there is always a demand for product marketers.
A side benefit of an MBA degree is that it can give you access to cross-functional projects you can use to better market anything that’s put in front of you. For example, you may learn how to market add-on services or complementary products that are outside of your current experience.
The best part is that you can get all of these skills online nowadays. The best online MBA programs offer a solid foundation in marketing, data analytics, business, finance and logical decision making. You’ll learn best business practices from vetted case studies and be prepared to tackle almost any project. A side benefit of an MBA degree is that you’ll know how to lead teams and manage projects from start to finish.
The Skillset Aids Your Own Career
Product marketing expertise doesn’t just help you launch a new product or promote the next generation of a classic product. The skillset is invaluable in furthering your own career goals.
For example, the skills you gain in an MBA program allow you to build a personal brand. This improves the odds that you’re hired by a major company or for the project of your choice. If you’re already working in marketing, improving your soft skills and gaining a broader business perspective may result in improved performance, leading to promotions and pay raises. Taken to the next level, these skills allow you to promote your new small business or consulting services.
Product marketing experience often leads to a successful career in:
- Early brand startups
- Executive recruiting
- Entrepreneurship
- Private equity partnership
- General management
- The C-suite
This is why product management is a great career path for MBAs, no matter where you’d like to go or how high up you’d like to work in the organization.
Companies Often Consider It a Requirement for the C-Suite
One industry survey of C-level jobs found that brand management experience and profit and loss centers were requirements for seventy percent of open jobs. For comparison, only twenty percent of jobs required someone to have experience at a blue-chip company. Having successful experience with product marketing was therefore 3.5 times more important than having worked for a brand name firm.
It’s Innovative
“Nothing’s ever the same in marketing,” said business administration major Timothy Cerato. “I was first studying finance and didn’t even consider marketing. When I was working as a work study for a marketing firm, one thing I liked was the blend of technology and how this seemingly cold and monolithic entity could be used to enrich my learning experience.”
Marketing automation is a discipline he admitted was always an afterthought for him, but now plays a central role in marketing. “I saw how technology could play with the typical elements of marketing,” he said. “Being able to learn about it and dig deep into the subject allowed me to learn and move into a new space.”
Product marketing is an excellent opportunity for MBA graduates. Not only is it a solid career, but it can take you wherever you want to go. Make sure that you consider it as an option, and look at all the opportunities it has to offer.