What is Micro Marketing?

What is Micro Marketing?

The marketing strategy in which we give our advertising efforts on a small group of tightly targeted consumers is known as Micro-Marketing. 

For example, the market can be grouped into small groups based on a commitment to a product class or readiness to purchase a given brand.

Micro-marketing requires a company to narrowly define an audience by a specific characteristic, such as ZIP code or job title, and tailor campaignsfor that particular segment.

Marketing is a crucial element for businesses operating in a competitive environment. Marketing is a strategy used by companies to increase their brand awareness, sales and, more importantly, profits.

What are the types of Micro-marketing :

• Local
• Relationships
• Job Title
• Industry
• Size
• Costumer Needs
• Brand Loyalty
• Customer Recovery
• Price Sensitivity

Local

A business that markets to people in a particular city or neighborhood.

Relationships

Marketing to people you know. For example, a consultant may market services to professional contacts established throughout a career.

Job Title

It is common for business-to-business sales to target a specific job title such as CIO or CMO.

Industry

Selling to businesses in a particular sector. For example, an insurance company that designs a product for commercial fishing boats.

Size

Targeting firms of a particular format. For example, a large business software package may only be affordable to a few hundred firms in each region.

Customer Needs

Offering products and services to customers with unique needs. For example, an insurance product for extreme sports enthusiasts.

Brand Loyalty

In Brand Loyalty, we target the loyal fans of a particular brand, product, or service with exclusive offers.

Customer Recovery

In Customer Recovery, we attempt to win back unhappy or lost customers with special offers.

Price Sensitivity

Targeting customers who are usually insensitive or sensitive to price. For example, a cutting edge solar panel system may seek out customers with an unusual enthusiasm for solar panels and a healthy budget.