What is Micro-Marketing? Types, Benefits, and Things You Need To Know in 2022
What is Micro Marketing? Definition and key things
Micromarketing is a method of advertising to targets certain groups of people in a niche market. Through micro marketing products or services are marketed directly to a target group of customers.
Key things about micro marketing
1. Micromarketing is an advertising strategy that allows a corporation to target a niche team with a specific product or service.
2. Through micro marketing, an organization defines an audience by a specific trait, such as gender or job title, or age limit, and then creates campaigns toward that specific group.
3. The ultimate goal of an organization in micro-marketing is to reach a target group of customers and get them to take action, such as buying a good service.
Understanding micro marketing
How Micromarketing Works?
There are different approaches to micro marketing. For example, a business may decide to run a micro-marketing program by specifically promoting its loyal customer base; Match special offers for dissatisfied or lost customers; Tailoring products to customers with unique needs; Marketing goods and services to residents in a particular city or region; Or delivering products to targeted customers with specific job titles or career titles.
The challenge with micro-marketing is its high-cost implementation and lack of economies of scale. This marketing strategy is usually more expensive than the user companies that spend more per target consumer and create a few marketing ads targeting a large audience by customizing many ads and appealing to a large number of customers. Also, running micromaterials can be expensive because they do not scale up in size.
Unlike other marketing, micro-marketing is a strategy that targets the largest potential consumer base of a company's products or services. With macro marketing, a business tries to measure how the target market is for any good or service for its good market and works on how these products can be made available to these customers.
Example of mice marketing.
While P&G was introducing its Pantene Relaxed and Natural Shampoo and Conditioner product line, it runs a unique marketing campaign targeting African American women.
While Uber was trying to expand its geographic reach, it used big data from social media platforms to learn more about specific transportation problems in each city.
Advantages of micro marketing.
- 1. Micro-marketing is highly targeted, as it targets a specific segment of the population.
- 2. Micromarketing helps to save costs, as it reduces your target population. Small micro-budgets are set for this type of marketing and overall it reduces the marketing costs of any organization.
- 3. Micromarketing provides user-generated growth. This means that if first-time users like your product or service, they're more likely to spread the word to their friends and family. This provides the potential for a company to increase sales.
Disadvantages of micro marketing
- 1. Micromarketing is time-consuming because it requires the marketer to carefully target the part of the population that wants to target it. This requires a lot of research and resources. Additionally, marketers must spend on developing the campaign.
- 2. Micro-marketing requires a higher cost of customer acquisition because there are fewer people in the target segment. The average cost of acquiring new customers may increase.
- 3. Micromarketing may not target the right audience and the wrong segment of the population is likely to waste resources and time.
Types of micro marketing.
3). Job Title
6). Customer Needs
7). Brand Loyalty
8). Customer Recovery
9). Price Sensitivity
There is a very high chance that your product will sell more when you use this marketing technique to market your product.