Micro-Marketing And The Art Of Precise Targeting
It can take courage and imagination to act ...
POSTED BY KIRSTY PARRIS ON 05/10/2018 @ 9:00AM
Thanks to the adoption of CRM systems, firms now have the opportunity to manipulate vast databases to develop highly targeted campaigns in order to win new sales opportunities ...
Micro-marketing allows your sales teams to use precise targeting.
copyright: jirsak / 123rf stock photo (licensee)
The micro-marketing part of this is all about precise targeting; segmenting target groups into sub-categories and producing unique sales messages for each target group.
For a micro-marketing strategy to work, management must have the courage and imagination to act on the insights revealed by this type of analysis.
Most sales leaders deploy resources on the basis of the current or historical performance of a given sales region. Going after future opportunities at the micro-level can seem risky, but basing strategy on old views of markets and their past performance is more dangerous still.
The sales team needs to understand the rationale behind the micro-marketing strategy and be given the tools they need to implement the strategy. The tools may be anything from template letters to sales brochures. Communication from management is also key.
Resources should be aligned with opportunities. If a specific market segment has a high-income potential, combined with little or no competitors, additional resources should be allocated to targeting that sector as the chances of success are far higher.
For your micro-marketing strategy to succeed, you need to support your team. Your sales team should engage with opportunity maps that reveal hot (and cool) micro-markets in a given geography and test their intuition against hard data.
Training should also allow them to roleplay and hone appropriate sales approaches. Not only does this hands-on engagement help win buy-in from your sales team, it is also a much more effective teaching method than lectures or demonstrations.
"Want some help to identify your own high-income micro-markets?"
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Until next time ...
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I'm Kirsty Parris and I specialise in helping business owners, like you, to realise the true potential of your business. Whether that is getting you back on track with your business plan or helping to devise and implement new plans that you never thought possible.
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