This Is How And Why Certain Types Of Micro Marketing Strategies Can Be So Potentially Profitable!
Have you also noticed, how when the vast majority of on or offline marketers set or allocate their traditional advertising or promotional budget. They tend to think in terms of a monthly or annual amount, correct?
And they or you almost never think in terms of utilizing some type of market tested micro marketing strategies or tactics. Correct? Huh? Meaning: Why haven’t you at least considered how you could strategically test. (On a relatively small scale at first.)
Say for a week or two. A customized customer acquisition strategy. Where you only allocate X for either the entire week. Or X per customer and gauge whether or not your initial front end results justifying going any further. If it works.
You obviously continue. If it doesn’t. You change directions. But in either case. You don’t have to automatically commit a ton of money or other potentially valuable resources or assets.
Strategic micro marketing tactics allows you or major competitors to dip your toe in the water. Without allocating a ton of money or resources. This way if need be, you can pivot and still possible come out ahead. In the long term. Sound like a plan or proven marketing process you’ve definitely like to hear more about?
So Right About Now You’re Probably Wondering What Is An Example Of Micro Marketing? (Correct?)
Fair enough. And BTW, the definition you’re reading about here has nothing to do with the -so called- clinical definition of micro marketing. Huh? Meaning: The type of micro marketing being suggested here.
Just means instead of a full blown marketing or promotional strategy. Instead you’re scaling down. And initially sort of strategically testing and monitoring to see. If your strategy is truly worth pursuing or not. This way, the moment or if you discover it’s not cost effective. Especially over the long term.
You will not have already committed a ton of financial or other extremely valuable assets or resources. The way your major competitors do. Each time they (or you!) commit to purchasing a pre paid number of ads at a discount of X. It makes no sense to pre pay for ads package of any kind.
Before you’ve had a chance to do any type of strategic A/B split testing. Because if you’re basic premise is wrong from the outset. It really does you no or very little good to have gotten a discount on the price of the ad or promotion.
A Customized Micro Marketing Strategy Can And Definitely Will Do Wonders For Your Bottom Line!
Case in point. Here’s how you can strategically use a form of micro marketing, to create a ton of viral word of mouth and mouse buzz. Both on and off of social media.
Let’s say you’re either the sole owner or the senior marketing director for a single location, retail jeweler store outlet. And your ideal female customer, currently has a total lifetime value metric of somewhere between $350 – $11,000 dollars. Give or take over the next five to seven year period.
This being the case. You decide to initially allocate (say) $600 dollars. And you invest in some extremely large plastic (Big Gulp) type of mugs.
Which the cup holder can drink large cups of either coffee or cocoa or even a large lemonade or ice tea etc. And since you already have an established JV (Joint Venture) type of arrangement with one of your areas top local, non franchised bakeries. And since each cup basically costs $3 dollars apiece. Since you or your major competitors are buying them in bulk.
Here’s the deal. On the traditionally two slowest days of the week. For a local upscale hair or nail salon. One of your op female managers goes to their shop. And basically the first twenty or X number of female customers who spend at least $40 or X number of dollars on their hair care.
They will be directed to one of your female staffers sitting in the shop. And these ladies will be given a sealed envelop. With the words written in big, bold red letters on the outside of the envelop. “You definitely deserve this!”
So you know they won’t waste any time ripping the envelop open, correct? And inside the envelop, they’ll initially discover at least two, extremely time sensitive gift certificates worth X.
Plus she or you will hand these ladies one of your plastic Xtra large “Big Gulp” plastic cups. And the cups will have the address of an extremely popular, local Mom & pop, non franchised bakery.
These Micro Marketing Campaigns Definitely Have The Potential To Evolve Into Something Much Bigger!
Basically whoever brings the “Big Gulp” cup to your JV partner local bakery. They get to purchase an Xtra large cup of X. And instead of paying the typical retail price of anywhere from $4.79-$5.29 per cup.
Instead they only pay $.99 cents. Say what? Think about the long term marketing possibilities for just a second. Now instead of going across town, to one of the nationally franchised chains to get their coffee and paying anywhere from $4.79- $5.29 per cup.
They go to your JV partner local bakery. And since they’re saving X on an Xtra large “Big gulp.” You know at least some them will decide to buy some bagels, donuts, corn muffins, cookies, pastries or perhaps order a birthday or graduation cake of some kind.
But perhaps you’re still wondering ‘how’ all of this marketing generosity on the part of the bakery. Ultimately translates into more business for you or your major competitors retail jewelry store. Right? Fair enough. Coming up shortly in part two.
You’ll discover at least three more potentially profitable ways. Some type of strategic micro marketing definitely makes sense. Okay? Thanks for your patience.
You Definitely Need To Get Started Right Away Strategically Testing Your Own Customized Micro Marketing Strategies And Tactics!
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