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Micromarketing targets specific customers within a niche market, tailoring marketing methods to reach a specific customer. It requires knowing the customer’s needs, likes, and dislikes very well. Small businesses often use micromarketing to establish and grow a customer base with a defined geographic area. It is the most personal of all marketing approaches, reaching down to the individual consumer within that niche market.
Micromarketing is a type of marketing strategy that has to do with targeting specific customers within a niche market. The approach will often utilize many of the strategies used in target marketing in general, as the marketer will take into account specific attributes that distinguish the target customer from other types of customers. One of the key differences is that target or niche marketing seeks to focus on reaching a certain group of consumers within that market whereas micromarketing requires tailoring marketing methods to reach a specific customer.
With micromarketing, the approach requires knowing the customer’s needs, likes, and dislikes very well. This makes it easier to match that consumer to the goods or services on offer. The approach is often successful because the customer gets a sense of being important to the marketer and sees the efforts to connect on a more personal level rather than a general one.
Small businesses often use micromarketing as a means of establishing and growing a customer base with a defined geographic area. For example, a small grocery store chain with outlets in three different cities might follow the more common approach of carrying the same products to each store. With a micromarketing approach, each store would carry a core group of fresh produce, but augment it with other products that are of particular interest to the consumers who frequent those individual stores.
Another example of micromarketing is found in real estate. A local real estate agent who develops a reputation for working with properties within a certain price range also typically understands the needs and requirements of prospective buyers who can afford homes within that price range. From there, the real estate agent will look at the individual needs and wants of a specific client within that broader demographic and seek to help that client find a home that meets as many needs and wants as possible, while still focusing on homes that the customer can afford.
Of all marketing approaches, micromarketing is probably the most personal of all approaches. Going beyond the narrower focus of niche marketing, this strategy reaches down to the individual consumer within that niche market and establishes a working relationship that is likely to work when other, less personal approaches fall short. While small businesses have used this basic technique long before the term was ever coined, many larger companies now also seek to use this approach to build stronger connections with their customers that ultimately benefit all concerned.
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