Our industrial system works on a very simple yet crucial fundamental of demand and supply. In every sector, several companies are producing or offering the same goods and services. How do you ensure that people select your products over your competitors’? How do you increase sales and profits? How can you ensure customer retention in an ever-changing landscape?
This is where marketing and marketing managers come into the picture. Be it a start-up or a million-dollar company, every business has a thoughtfully-designed marketing strategy to woo customers and increase its profits. Most companies have specialized marketing teams that work round the clock. They build strategies, run ad campaigns, and develop plans to increase the online and offline footprints of a company.
It is no wonder why the marketing manager salary in India is among the highest. Mind you, this also includes employee benefits and performance incentives to drive the best results out of marketing managers. Further, the field is also expected to witness a 6% growth by 2029, which is significantly higher than the average of all professions.
Let us now understand more about marketing managers — their job responsibilities, remuneration, educational qualifications, and career path.
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Roles and Responsibilities of a Marketing Manager
Based on your experience and seniority in the organization, a marketing manager’s work profile may vary. However, here are the roles and responsibilities of marketing managers that are common to all levels:
1. Creating Product Awareness
Marketing managers are required to actively seek out avenues and partnerships/collaborations or promotional ventures to enhance awareness around a company’s product offerings. This can be done through advertisements, campaigns, paid promotions, etc. The idea is to communicate a product’s features, benefits, and other USPs to prospective clients to help increase conversions for a company.
2. Improving Profits
One of the main reasons for a high marketing manager salary in India is that optimum performance is linked to increased salaries. This essentially means that a part of your monthly remuneration is linked to your marketing and sales target. In short, marketing is a target-based job.
Therefore, the higher the numbers registered by a marketing and sales team, the greater will be the incentives in return. Based on the industry you are working in, an increase in profit could implicate an increase in sales, acquiring more customers, getting more footfalls or admissions, and so on.
Branding is another important role of a marketing manager. As the name suggests, under this role, they must plan marketing campaigns that lead to brand recognition. For instance, we have several examples of tag lines that are synonymous with a particular brand: “Because you’re worth it” – L’Oreal; “Just do it” – Nike, and “I’m lovin’ it” – McDonald’s, to mention a few.
Branding is not just restricted to taglines and includes anything that helps clients associate with a company.
In this digital age, numerous avenues can be used for marketing your product or service. It is for the marketing managers to think out of the box and keep up with changing times. Today, as more and more businesses are investing in developing applications and utilising the growing usage of mobile phones to their benefit, almost every marketing strategy has a mobile component to it.
As a marketing manager, you need to be vigilant of the latest trends in marketing and leverage them to drive growth and development for a company. Innovation-driven thinking capacities can help establish a competitive advantage. Marketing managers must also be able to successfully execute marketing plans and measure the success of campaigns to optimise their performance.
Marketing Manager Salary in India
As a marketing professional, there are several senior work profiles and transitional job opportunities you can consider, and each of these has ample progression scope. To begin, you need a bachelor’s degree in a preferred field such as marketing, public relations, communications, accounting, or finance.
The average base salary of a Marketing Manager is ₹685,464 /year. It is the most common work profile for any marketing professional where they are required to design, plan, and execute marketing campaigns for the company. Their roles are targeted to enhance the growth and development of a company, its product, and services.
A marketing manager’s salary is a sum total of base salary, bonuses, profit sharing, and commission, and with experience of over 10 years, they can earn an average base salary of ₹956,988 per year. In addition to this, health benefits, dental, and vision are common. Supplementary skills like market planning, business strategy, market analysis, Search Engine Marketing (SEM), Content Management, and Regional Marketing can result in lucrative career hikes.
To attract higher roles and salaries, a master’s degree is optimum. Furthermore, there are plenty of certification courses you can take up to supplement your skills set.
Marketing Manager Job Roles
Let us now discuss the various positions a marketing professional can pursue:
1. Marketing Analyst (Average Base Salary – ₹ 4,89,702 /year)
As the name suggests, as an analyst you will be required to conduct comprehensive research and analysis for every campaign that is rolled out. It will be in terms of the market trends, customer reviews, customer expectation, price expectation for the product and other such details. These details will then be handed over to the marketing team and will be used as a guideline for their work.
2. Monetisation Manager (Average Base Salary – ₹ 7,35,450 /year)
A Monetisation Manager is responsible for increasing the revenue of the company. They are required to identify the areas where revenue can be increased, the cost can be reduced etc. They are also required to submit development plans and strategies to improve revenue. They work closely with the leaders of the organization and provide them with regular updates on the work.
3. Business Development Manager (Average Base Salary – ₹ 5,97,373 /year)
The most important job responsibility of a Business Development Manager is to develop a business and attract more clients. This work profile can involve meeting with prospective clients, speaking to them over the phone, putting together presentations for them, or even reaching out over emails or through social media platforms. By doing so, they are required to identify new opportunities for expanding a business and generating more revenue. They may also act as client support managers for newly acquired clients.
4. Email Marketing Manager (Average Base Salary – ₹ 7,41,000 /year)
As is evident from the designation, these managers specialize in running marketing campaigns over emails. They also need to keep a database of email ids of the prospective clients. Keep a track of the follow-ups needed and also ensure that the email campaigns are relatable to the client. They need to assess the success of an email campaign and work towards making the upcoming campaigns better.
5. Social Media Manager (Average Base Salary – ₹ 3,24,828 /year)
As a Social Media Manager, you will be responsible for maintaining all the social media handles for the organization. This would include posting relevant content on the handles, responding to comments or queries, and engaging with the audience. They report back the social media trends to the marketing team, which are then used in other campaigns.
6. Advertising Manager (Average Base Salary – ₹ 4,88,730 /year)
As an Advertising Manager, you would need to support the advertisement in the non-digital media i.e. newspapers, magazines and electronic media like TV, radio etc. They specialize in offline campaigns and would work closely with the people in media to improve the brand presence. At a senior position, they will also be responsible for funding the campaigns. They have the authority to approve or disapprove of a campaign and decide for how long it needs to be run.
7. eCommerce Manager (Average Base Salary – ₹ 4,45,260 /year)
An eCommerce Manager is responsible for handling the eCommerce portfolio for retail companies. They manage the products for sale, handle the returns, plan for promotions or discounts to improve the sales, and also undertake market research to keep the inventory up-to-date.
8. Digital Marketing Manager (Average Base Salary – ₹ 5,44,155 /year)
The work profile of a digital marketing manager would be similar to that of a Social Media Manager with the added responsibility of digital media apart from social media. This can include digital forums, online magazines, and more. They promote the company’s product, services and brand. Another part of their work is to work with the digital tools to analyse the digital trends, analyse metrics or data, and co-ordinate the other aspects of marketing.
9. Product Manager (Average Base Salary – ₹ 7,68,832 /year)
A product manager specializes in the end-to-end lifecycle of a specific product. They are responsible not just for marketing but also for overseeing the development of the product, beginning from product design, getting raw materials, assembling a team, tracking the work to completion, and representing it in the market.
Jobs in marketing and sales are evergreen roles – the only changing aspect is the mode through which we accomplish marketing goals. In the initial stages, marketing was practised through word of mouth, however, with advancements in technology, marketing is now entirely digital and involves leveraging industry-specific tools to run targeted ads and promotional tactics.
If you are someone who loves to interact with people, have an eye for detail, and are good at convincing people, then marketing is the right field for you. Further, if you possess effective leadership management skills to steer marketing teams towards organisational goals, now is the right time to kick start your career. With demand for marketing managers at an all-time high, there is no dearth of opportunities in the field, and the sky’s the limit in terms of remuneration for the right candidate.
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What are the factors influencing a marketing manager’s salary?
Marketing is about understanding individuals and raising awareness about how products/services may meet requirements. He/she is typically in charge of planning, implementing, and reporting on marketing initiatives. A marketing manager is assigned to a specific product line or brand, or they may be in charge of all marketing and advertising for the company. There are various factors that affect marketing managers’ salaries like Experience plays a very important role. Employers prefer employees with added skills and competencies that align with the job profile. The organization’s location in which you are working also affects the marketing manager’s salary in India.
Which marketing jobs are in high demand?
One of the most diversified career pathways available is marketing. You can have a lot of options. However, this implies that you will face stiff competition. The marketing jobs that should be on your radar are as follow. Digital Marketing Specialist who works on marketing initiatives that help to build brand image their average salary is around 5.5 LPA. Product Managers regulate the end-to-end lifecycle and communication of any products and their average salary is 7.7 LPA. Marketing Analysts conduct research and analyses of marketing campaigns and earn an average salary of around 5 LPA.
How to bag a high-paying marketing manager’s job?
To get a high-paying job, one needs to opt for a professional course that will make you gain industry-relevant skills and competencies which can eventually help you fetch high-paying jobs. Apart from getting academic qualifications, to get a high-paying job one needs to be passionate about marketing. Marketing is continuously expanding thus marketing manager needs to continuously grow and upskill themselves to current trends.