Micromarketing: What is it and why should you be doing it now?
Say it with me readers: I am unique. I am special. I deserve personalised products and services that are made just for me.
If you have a business, especially one in Marbella, Estepona or elsewhere on the Costa del Sol, take particular note: this is the mindset of your consumers as well as consumers around the world. Bespoke products and services used to be a major marketing platform that luxury brands would take to set themselves apart and justify high prices, but in today’s online world where competition runs high and everything is at their fingertips, consumers are demanding more and more that the products and services they purchase be somehow tailor-made for them. A one-size fits all model is no longer enough when it comes to goods and services, so it goes to reason that it’s also no longer a viable marketing plan either. This year more than ever, your marketing strategy needs to embrace micromarketing.
What is Micromarketing?
Essentially, micromarketing takes your customer base and narrows it down to a small, detailed, niche category of consumers, which you then focus on with a dedicated marketing plan. It is the 180-degree opposite of marketing for the masses and is an even more targeted approach to marketing than segment or niche marketing, one that focuses exclusively on a single consumer characteristic such as age, gender, job, location etc. It is a precise form of personalised marketing meant to attract and retain the attention of your customers with a specific trait, and thus need, that sets them apart.
Micromarketing on the Costa del Sol
If you have a business on the Costa del Sol, take our word for it (we are experts in these things!): this year, your marketing plan must absolutely include micromarketing by location. Specifically, you need a municipality-based mircomarketing campaign in your overall marketing strategy. Spain is no longer in full lockdown like last year (praise the heavens!), but current restrictions to ebb on-going Covid-19 waves -as we’re sure you’re accutely aware, mean that Andalucia is now actively closing municipality borders, leaving each one as a micro-commerce unto itself. As a business, you need to be taking advantage of that instead of the other way around. And the way to do that is through micromarketing. Hone in on what makes your business, your products and your services great to the people in your municipality and then -in the broadest of broad descriptions, market the hell out of it.
Advantages of Micromarketing
The biggest and best advantage of micromarketing is simply this: micromarketing works. It builds your brand, grows your presence on and off-line, and it brings in revenue. By hyper-focusing on one group of consumers, you can create something that they’re sure to love, which not only encourages them to part with their hard-earned cash for it, they’ll also be more likely to spread the word about how great your product or your business is. Organic growth at its finest!
Not only that, having a small consumer base means you don’t need as big a marketing budget. That’s a win-win in our book!
Disadvantages of Micromarketing
The major disadvantage of micromarketing is the fear that you will choose the wrong segment of your consumer base to market to, which can waste time and resources. But in this case, you can actually thank Covid-19 (bet you never thought you’d say that!) – it’s made that choice for you, location. Specifically: municipality. After all, if your customers are already being restricted in their choices by governmental regulation, you might as well be taking advantage of it to build your business and increase your bottom line.
The other disadvantage of micromarketing is that it requires a significant amount of time and strategy to implement it. The quality research needed to understand such a small portion of your target market takes time and skill, and the final marketing campaign needs to be hyper-unique to meet the demands of your municipality’s population, whatever that may be. The campaign itself does not necessarily need to be overly-complex, but it does require plenty of preparation if it is to be executed successfully.
Luckily, that’s where Peppermint shines. Our team of local marketing experts know the Costa del Sol AND digital marketing like the back of our hand! We are well-versed in all the best practice marketing strategies, but bring with us a heavy dose of creative flair, local knowledge, and business experience to build a marketing campaign that announces your presence loud and proud to your local audience, firmly setting you on the path to long-term financial success, even in today’s tough Covid-19 market.
Like your customers, your business is not just another face in the crowd – now’s the opportune time to embrace that. Give us a call and let our digital marketing, branding and advertising teams show you how.