By Caroline Forsey

Good news: on the internet, your business can connect with hundreds of millions of potential customers.

Bad news: your competitors have the same access, and they’re already throwing money at the problem.

Also not so good: your mighty, scrappy team has to figure out how to connect with, well, hundreds of millions of potential customers.

Or do you?

For your business to go big, sometimes it helps to think small – especially when it comes to your marketing strategy.

We’re talking about micromarketing — targeting a small group from your customer-base — which can be a transformative strategy for your business.

Let’s dive into what micromarketing is, and why it’s important. Plus, we’ll explore examples to inspire your first micromarketing campaign.

What is micromarketing?

For your business, micromarketing means drilling down past the level of niche marketing (targeting a specific segment within the larger market) to target specific individuals or micro (“extremely small”) groups.

By targeting smaller, more specific audiences, you’re able to customize your outreach and use audience insights to tailor your messaging for more personalized, effective marketing.

Yes, this requires a different type of time and effort than more traditional mass marketing — and it’s worth it.

Why invest time and resources in micromarketing?

Micromarketing requires more resources — if you measure your efforts by potential customers reached.

However, targeting specific, segmented audiences is often more effective in the long-run towards acquiring high-quality leads and turning those leads into customers.

Sure, your first micromarketing campaign is unlikely to reach the same number of individuals as a Super Bowl Ad. But you’ll certainly spend far less than the required $5.6M for a 30-second spot.

And, just as importantly, you don’t want to reach every Super Bowl viewer, when you can create targeted ads that inspire and delight a smaller pool of very interested consumers.

With micromarketing, your efforts are aimed at crafting personalized messages, and talking directly to the individuals most likely to respond to your pitch. The benefits are in your ROI.

Mass Marketing vs. Micromarketing: Benefits and Drawbacks

See chart here.

As you can see, micromarketing requires a greater investment to target each individual, but a greater return on investment since each individual is much more likely to respond positively to your call-to-action.

Think of it this way: you might see your CPC (cost-per-click) rise with an online micromarketing strategy. But, when executed well, you’re also going to see an encouraging decline in your cost-per-conversion — a much more important KPI.

Micromarketing Opportunities

Considering and creating a micromarketing strategy is an opportunity to step back, consider alignment between your sales and marketing efforts, and make sure you’re first-and-foremost solving for your customers’ success.

Are you selling complex enterprise software or massive industrial machinery? There may only be a small number of potential customers in your region or industry. In this case, micromarketing …read more

Source:: HubSpot Blog