What is micro-marketing?
Peel away the outer layer of an onion and you find another layer, followed by another and so on till you get to the core. Simple right?
Micromarketing is like peeling away all the layers and gearing your campaign specifically to a target consumer group. This consumer group is typically defined either by a combination of demographic, geographic, socioeconomic or psychographic traits.
Considered by some to be a new trend in marketing, micromarketing is made possible by the data that is available about consumers. Each time you use one of the “reward” cards, data is stored about your preferences (what kind of soda you buy, where you spend money, how much you spend and what types of products you purchase). In turn that data is used to build a profile about you and your habits which then is used for future marketing campaigns.
Scary and amazing all at the same time! All the data that is collected builds a profile that enables marketers to narrow their focus, upping the odds for positive response.
An example of micromarketing could be a high-end consumer electronics chain that selects to market in a 15 mile radius from the store to only people that own luxury vehicles and own a single family home. It is assumed that they will have better success because those consumers can afford their products.