Freelance market research analysts help the organization develop or maintain a competitive edge by finding and delivering data-backed insights into potential markets, competitors, and customer behaviour. Market research analysts are integral to an organization’s overall marketing strategy and in-demand across multiple industries.
A freelance market research analyst conducts qualitative and quantitative research. In other words, market research analysts gather statistical data and solicit responses about people’s beliefs, opinions, and experiences.
Are you looking for a freelance market research analyst job?
If so, you have come to the right place. There are several benefits of freelance market research analyst jobs. Here you will find the
- Job Description
- Salary range
- Locations that need market research analysts the most
Read on to learn more about these positions and start your freelance career. Listed below are some of the advantages and disadvantages of freelancing. If you have some previous experience, you can also apply as a freelance market research analyst.
Market Research Analyst Job Description
A freelance market research analyst works from home or at a client’s office. These professionals are responsible for monitoring trends in sales, understanding consumer preferences, and analyzing distribution.
They also measure the effectiveness of marketing campaigns. To find freelance market research analysts, companies need to know the type of information they need to be gathered. These professionals should have a bachelor’s degree and two years of experience.
They should also have relevant industry experience. The role of a market research analyst involves collecting and analyzing intelligence and presenting that information in a compelling narrative for decision-makers.
The data they collect can come from various sources, so the market research analyst must have strong technical skills and the ability to see the big picture and translate data into action plans. They must also communicate research findings in ways decision-makers can understand.
As a freelance market research analyst, you may be able to conduct surveys of customers.
Conducting customer surveys will give you a better understanding of their needs and desires. You will also be able to create actionable strategies to meet those needs. The market research analyst should have
- Excellent Communication Skills
- Strong IT Skills
- A clear understanding of consumer behaviour
By using these tools, you can improve your company’s competitiveness. If you’re interested in a freelance market research analyst position, read on to learn about the job description of a freelance market research analyst.
Market research analysts translate and interpret consumer data to inform marketing strategies. These analysts specialize in quantitative and qualitative market research. They also conduct experiments and interpret their findings. In addition, a freelance market research analyst may work independently or with an agency.
In any case, they will report to the product marketing manager. The job description of a freelance market research analyst includes a few different responsibilities. A freelance market research analyst’s primary responsibility is gathering and interpreting data from various sources.
Market Research Analyst Educational Requirement
To become a market research analyst, you must have a bachelor’s degree. Although a master’s degree is not required, many positions require one. You may want to pursue a master’s degree for more advanced functions. Some schools offer graduate-level programs in
- Business administration
A master’s degree is beneficial for many reasons, but it isn’t a prerequisite for this position. To earn your master’s degree, you can focus on marketing, data analytics, or market research. Some analysts choose to make a Master of Business Administration (MBA) degree to boost their career options.
You can also get certified in this field by earning the Insights Professional Certification through the Insights Association. To make this credential, you must have three years of experience and pass a test. Certified researchers must also complete twenty hours of continuing education every two years.
If you want to work as a freelance market research analyst, you may need some previous experience. Experience in the marketing field is an asset, as it will open doors to better job opportunities. In addition to educational background, many researchers stay within the same sector to gain experience and knowledge.
To become a freelance market research analyst, you should have a solid analytical background and a keen interest in people and markets. Additionally, you should know data analysis software and business management courses.
If you’d like to work as a freelance market research analyst, you should obtain a relevant degree in business, economics, or statistics. Many employers will accept a wide range of degrees for the position. You can also find temporary jobs as a research assistant or graduate trainee.
If you’ve studied marketing and are confident with numbers, you can try your hand as a freelance market research analyst. You can quickly move to a full-time research manager position once you’ve gained experience. As a freelance market research analyst, you can choose to work for a private or public company.
Alternatively, you can choose to work with an agency. The latter option may be more suitable for those looking to be self-employed. Freelance market research analysts often work as independent contractors, collaborating with the company’s marketing team. Typically, they work as part of the marketing team and report to the product marketing manager.
The salary range for freelance market research analysts depends on several factors. The job title is an essential factor in determining the price, but the experience of a market researcher can also affect the amount of money earned.
As a starting point, you should know that a market research analyst can make between $20,000 and $35,000 per year. More senior researchers can expect to earn upwards of PS40,000. In addition to salary, some companies offer additional benefits such as
- A company car
- A profit-sharing scheme
- Medical insurance
- Gym memberships
- Time off instead of overtime
Market research analysts specialize in two areas: quantitative and qualitative. Most are employed by marketing agencies and work on many projects for various companies. A senior analyst may have a Master of Business Administration.
A master’s degree will provide more opportunities and help you obtain the Insights Professional Certification from the Insights Association. The certification process requires applicants to pass an exam and have three years of work experience.
Once certified, analysts are required to continue their education by taking 20 hours of continuing education. Before beginning a market research analyst career, it’s essential to have some background experience in the field.
Previously held roles in marketing, account management, and sales may be helpful. However, experience in these fields is often required to land a better position. It is also recommended that freelance market research analysts pursue a Master’s degree in marketing or business, as some employers prefer candidates with a graduate degree.
Market research analysts are required to analyze vast amounts of data. They must be able to synthesize research findings into a cohesive narrative. Their work is often crucial to decision-makers. They need to communicate their findings effectively in written and verbal reports.
Additionally, they must have exceptional communication skills and be comfortable interacting with a diverse group of people. There are many benefits of being a market research analyst, and many salary options are available for experienced professionals.
Locations with the highest demand for market research analysts
There are many opportunities for freelance market researchers. Many of them work from home. Most of them are employed by companies researching consumers’ attitudes and behaviours. They may work for advertising agencies or charities.
Market research analysts may also work for government departments or research institutions. Market research analyst jobs are advertised by specialist recruitment agencies like Hasson Associates or Pollen Recruitment, promoting graduate positions in this field.
Those with a background in statistics and research will find more excellent employment opportunities. Marketers increasingly use data and analysis to determine who they should target. Data and analysis help them reach the right customers, ultimately increasing profits.
Job applicants with a master’s degree or solid statistical background will be in higher demand than those without degrees. However, if you have an experience in other fields, such as psychology, you will have more opportunities to find work.
Many freelance market research analysts work remotely, so setting up your own business is essential. This way, you can control your work schedule and have a more flexible lifestyle. It also saves a great deal of money and is the most convenient option.
Freelance market research analysts are often paid well and enjoy various benefits, so it pays to take a little time to find one that works for you. Freelance marketing research analysts earn the most money in San Francisco-Oakland-Fremont and Green River, WY. New York, San Francisco and San Jose are the second highest-paying cities for freelance market research analysts.
The U.S. Bureau of Labor Statistics expects these cities to remain the top three markets for this profession through 2022. If you are a talented market researcher, consider freelancing as a means to a lucrative career.
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