Let’s face it — everyone seems to be getting into the digital marketing game these days.
While even only a few years ago having a strong digital marketing strategy could set you apart from the competition, nowadays everyone is fighting to target the same audiences and get in front of the same customers.
As the landscape becomes increasingly crowded, it can be hard to determine the best strategies to get your products and services in front of the right targeted group of customers.
That’s where micromarketing comes in.
Take a look at this article and learn what micromarketing is, how it can help your business succeed, and examples of micromarketing success.
What is Micromarketing?
Micromarketing can be defined as a type of marketing strategy that targets a specific niche of your overall target audience.
These extremely small, or “micro”, groups of people or individuals can be approached with customized content and outreach initiatives for a personalized marketing experience.
While targeting different small groups takes a considerable amount of time and effort, the results can be extremely beneficial, particularly in markets or industries that are highly competitive.
Narrowing down and selecting key groups and creating specific, detailed, and personal content can bring in more sales than general marketing to your larger consumer base.
What are the Types of Micromarketing?
These are a few simple types of micromarketing you can consider while building your strategy:
Targeting a specific city or neighborhood.
- Job Title
Targeting people with a specific title or job level.
Targeting a niche industry.
Targeting a business based on the size.
- Brand Loyalty
Targeting customers based on their past purchase history.
Targeting a specific age group.
- Current Customers
Targeting your current customers for upsells or repurchases.
Targeting a group based on gender identity.
- Price Sensitivity
Targeting customers who avoid high-level purchases.
Targeting people who are connected to the brand.
These are just a few different examples of the types of breakdowns you can think about when building your micromarketing strategy.
You can also consider different breakdowns based on specific consumer behavior or interests that your audience has.
Micromarketing vs Macromarketing: What’s the Difference?
The opposite of micromarketing on a small scale is macromarketing on a large scale.
These two different approaches are often used in comparison to each other, but marketing strategies can use both of them at the same time to achieve a wide range of effects.
To help you understand some of the differences between these approaches, take a look at the pros and cons of each.
- Allows you to pinpoint specific targets for high engagement.
- Builds trust and authority in your brand.
- Helps you better understand the needs of specific audiences.
- More cost-effective than large marketing campaigns.
- Requires a heavy investment in time commitment.
- Adds complexity by having subgroups that all need targeting messaging.
- Needs market research and additional developments into buyer personas.
- Risk missing your target with your campaign.
- Maximizes your reach.
- Takes less of a time commitment to create messaging and content.
- Focuses on general marketing policies that can be reused.
- Can quickly become expensive (think sponsorship costs, airtime pricing, etc.).
- Risk associations to impersonal or indifferent marketing.
- Highly competitive space.
The Importance of Micromarketing for Businesses
With all the pros and cons laid out, you can see how micromarketing can be a worthwhile effort for many businesses.
Companies that lack extensive resources or budgets, sell in a competitive industry, or want to build personal connections with customers can all benefit from a micromarketing strategy.
As mentioned above, a micromarketing strategy will take considerable time, as each specific niche group you create to target will need customized content, messaging, and resources to effectively market it on a small scale.
The payoff of the time commitment, however, is considerable.
Brands that don’t want to pay millions for airtime spaces or on influencer or celebrity sponsorships can still influence their customer base with the personalized approach that micromarketing creates.
Taking a personalized approach means using your user data alongside market research to understand the details of the behaviors and patterns in your consumer base.
Having the right tools to monitor your customer data in order to come to the right conclusions is an important step you need to take before building a micromarketing strategy.
How to Build a Successful Micromarketing Strategy?
So, how do you build a micromarketing strategy that will bring in the desired results?
How do you approach micromarketing with the goal of making it a part of your regular digital marketing strategies?
Take a look at these steps you’ll need to accomplish to create your own micromarketing strategy.
Step 1: Buyer Personas
The first and most important step to a successful micromarketing campaign is to understand your buyers.
After all, if you are going to connect with them on a meaningful and personal level, you need to know who they are.
You should already have buyer personas in place that represent an average ideal customer for your different audiences.
Taking those personas and developing them further into niche buyer personas will help you understand the behavior, demographics, interests, and personalities of the niche market you want to target.
Step 2: Plan the Details of the Campaign
After you’ve identified the buyer personas you want to target with your micromarketing campaign, you’ll need to figure out the best ways to reach them and what content and messaging you want to develop to get the best results.
There are many different ways to approach your audience, including:
- Ads (social, podcast, radio, etc.)
- Social media
- Content offers
Each of your audiences is going to have different responses to approaches in the different touchpoints of your campaigns, so ensuring that you have those responses already mapped in your buyer personas will help you get the results you’re looking for.
Step 3: Execute and Analyze the Campaign
Once you’ve determined the steps of the campaign, it’s time to implement them.
If you are running your first micromarketing campaign, make sure to keep a close eye on the results and be prepared to make note of areas where you didn’t get the desired outcomes.
Micromarketing requires you to understand your audiences and plan messaging that will resonate with them in meaningful ways.
If you miss the mark even slightly, you can risk losing your chances of personal connection and the end results of increased sales.
Analyzing your results and making a plan to improve is the best way to approach each campaign.
Micromarketing is a continual effort and taking the time to see what worked and what didn’t will help you successfully plan more campaigns in the future.
Micromarketing Examples from Top Brands
Micromarketing isn’t just a strategy employed by companies who don’t want to spend big on the types of advertising and campaigns required in macromarketing efforts.
In fact, even top brands will use micromarketing in order to connect and make sales in specific niches of their audiences.
Here are a few examples:
Coke’s winning “Share a Coke” campaign started in Australia in 2014 and soon spread across the globe.
By replacing the “Coke” label on their bottles with individual, common names in each country, Coke was able to connect with local regions and encouraged people to buy the product to try and find their own name.
As ride-share giant Uber started expanding to different states, it used specific location information and common traffic problems found in different cities to create targeted campaigns that addressed those concerns and offered its services as a solution.
Not only did this have great results, but it felt as though the company was addressing community needs on a geographic level.
As an energy drink, Red Bull had many different audiences it could target.
However, by focusing marketing dollars and sponsorships on extreme sports, Red Bull was able to both target a specific group of young males, but also build a name for itself as a sponsor of extreme events.
Because of this, the brand has become a household name associated with sporting events.
Wrap Up: Ready to Try a Micromarketing Strategy?
Micromarketing can help you understand and connect with niche groups of your target market in personal and meaningful ways.
The success of your approach is going to depend on the level of understanding you have of these niches and the amount of time you spend researching and analyzing customer data.
If you are interested in learning more about how to collect data and how to understand the data you have, take a look at the Rock Content Magazine about the pillars of data-driven marketing!