29, Jan 2015
Marketers regularly throw away money on Super Bowl ads, promoted social media posts and bot traffic. The typical spray-and-pray approach is often utilized by brands with multi-million dollar budgets hoping to boost brand awareness and affinity.
Global ad spending is predicted to reach ~ AED 2.5 trillion by 2018. Unfortunately, a lot of those will go to waste.
Smart businesses can become household names without a seven-figure marketing budget.
For companies, big and small, that want to maximize opportunity and growth, micro marketing gives you the best bang for your buck.
Snipe targets and tap influencers.
In an age where marketing is no longer limited to TV and radio, and advertising technology offers limitless targeting, mass consumer marketing is plain lazy.
An AdWords campaign without multiple layers of segmentation will cost you dearly. A-list celebrities do not come cheap, either. These days, advertising dollars are best spent on hyper-targeted marketing and social media personalities.
Saturate a market.
Airbnb, DogVacay and Uber took over cities one at a time and have grown to become titans in their respective industries. Their hyper-local approach to marketing required precision execution and deep market penetration. For Uber, that meant catering to location-specific transportation problems, throwing launch parties targeting influencers and forming strategic local partnerships.
Own a niche (or create one).
In 2008, HubSpot was a relatively unknown startup based in Cambridge, MA. The company had recently coined the term “inbound marketing” to describe a new way businesses could market themselves to customers for free. The firm’s message resonated well with small and medium businesses that, normally, could not afford costly methods of traditional advertising and marketing. History credits HubSpot with pioneering the inbound marketing trend and the company has solidified its position by publishing a book, hosting a conference and developing an academy focused on inbound marketing. In this case, HubSpot not only cornered the market around inbound, they built it.
The (relatively) small investments made towards influencer marketing, hyper-local targeting and niche community engagement can pay rich dividends for brands that know who their core audience is and where they live, digitally and physically.