Marketing Jobs Face New Challenges in 2023
In a time when the job market seems to be continuously morphing, the city of Chicago is witnessing firsthand the transformation of the marketing profession. A recent survey from the Content Marketing Institute (CMI) reveals a disheartening sentiment: 68% of marketing professionals believe that landing a job in the industry today is tougher than it was five years ago. Only a meager 7% feel it has become less challenging.
Understanding the Landscape
This unsettling change might leave many scratching their heads. It turns out, economic pressures are playing a huge role. The survey noted that 75% of respondents believe financial constraints within companies are the primary factor behind the tightening job market. Moreover, 69% indicated that they are now facing increased competition for available positions.
Adding to the challenges, 33% of survey participants feel that the rise of artificial intelligence (AI) is creating obstacles in landing marketing roles. While only a tiny 3% stated that AI is outright replacing jobs, it seems to be impacting job security by preventing companies from hiring new talent to replace departing employees. “The promise of AI-driven efficiencies is shrinking teams in a less obvious way,” highlights Stephanie Stahl, managing director of the martech group at CMI parent Informa Connect.
The Changing Nature of Skills Required
What do marketers need to stay afloat in this competitive landscape? Well, according to the survey, 75% of marketers believe specializing in niche skills has become essential for relevance as digital technology rapidly evolves. More specifically, young professionals—Gen Z and millennials—are eager to boost their leadership skills, while older generations (Gen X and baby boomers) are keen to master new technologies.
Only 35% of respondents felt that their current training meets their career needs. With nearly half of marketers turning to third-party companies for skill development, there is a clear demand for training that keeps pace with evolving digital marketing tools and approaches.
An Eye on Employee Satisfaction
Despite the challenges, it’s comforting to know that a majority of marketers—approximately 76%—express satisfaction with their roles. However, a growing 35% of professionals are on the lookout for new job opportunities, an increase from previous years.
Many marketers feel they are undervalued, with 55% suggesting they don’t receive the recognition they deserve. Alongside this concern, a significant portion—34%—believes that their career paths could be better defined within their organizations.
Salary Considerations
Another point of contention is the salary landscape; the average marketing salary has recently dropped by 3% to $108,380. Many marketers feel that they should earn 20% more than they currently do. As Stahl suggests, “If you find you’re undervalued, develop a plan to close the gap. Changing jobs can sometimes be the fastest way to grow your income.”
The Road Ahead
As we navigate through these uncertain times, it’s clear that both employers and employees have roles to play in improving the job market. With rising financial pressures and the impacts of technology, especially AI, on job security, companies have a chance to invest in their teams’ futures—both through ongoing training opportunities and by addressing the emotional aspects of job satisfaction.
So, if you’re in the marketing world or considering a leap into the profession, remember that while obstacles are present, opportunities for growth and improvement abound. The key lies in proactive engagement with career development and staying open to learning new skills as technology continues to change the industry.
