Long gone are the days where everyone watched three network television channels, listened to their favorite FM radio station, and looked for the paperboy to deliver the daily newspaper with updates on global events. Back then, a captive market was easily targeted. Today, the internet has fundamentally changed the world around us, creating a dynamic environment with endless sources of media being consumed. Streaming services have opened the door to hundreds of channels, YouTube and TikTok provide user-generated video entertainment, and social media has become the new source of news and information across the generations.
With so many options to choose from, mass advertising has been replaced with strategic digital marketing to niche target markets. Consumer psychographic and demographic profiling has never been more in-depth. Technology is allowing for geo-targeting and content delivery in interesting new ways. However, it takes a thorough understanding of the digital landscape, a commitment to staying on the leading edge of technology and an insightful focus on creativity and messaging to compel an audience to take action. Let’s dive deeper into what strategies like micromarketing mean, and how it can be a transformative business strategy.
What is Micromarketing?
Micromarketing is a strategic digital marketing approach that targets a specific set of consumers who show the highest potential of buying the product or service. Rather than marketing to the masses with a billboard or a radio ad about a new community with homes for sale, advertising agencies can use this niche social media strategy to market to those genuinely interested in buying a home. By collecting specified information, including interests, geographic, and demographic information, agencies can create an in-depth, targeted audience that leads to results. Businesses can also take a more intuitive approach to their creative and messaging, tailoring it for personalized, and ultimately more effective, marketing materials.
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Turning a Real Estate Interest into a Sale
Perhaps one of the biggest advantages of micromarketing is the acquisition of high-quality leads and turning those leads into sales. Say, for example, that a client is trying to sell a new luxury condominium that starts at $2 million. The company would need to use a highly targeted approach, focusing on real estate interest, and then narrowing further with geo-targeting and demographic information to find those willing to buy within that price range.
This process can easily turn into a complex, multi-step strategy requiring a greater time investment and a thorough understanding of the digital landscape. Having a group of trained professionals that can assist in creating these strategies leads to true benefits for the company, mainly found through the company’s return on investment. Efforts are aimed at crafting personalized messages to the targeted consumers most likely to request more information on a listing, download the digital brochure, or overall, just respond positively to the call-to-action messaging. This ensures developers don’t waste time on people who ultimately wouldn’t be interested in buying that home to begin with, generating qualified leads that have a proven track record for higher sales success.
Leading the Way in Technologically Based Marketing
In every real estate market segment, from primary housing for first-time homebuyers to second and third vacation homes for the seasonal luxury resident, Cotton & Company develops integrated and targeted marketing programs focused on generating homebuyer interest that results in high quality sales leads. Staying on the leading edge of technological advances is a top priority as the real estate industry continues to evolve. Cotton utilizes strategies like micromarketing every day to generate sales success for its clients.
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With a growing real estate portfolio of more than 1,700 clients worldwide, Cotton & Company acquires and handles numerous databases for their clients. The team then utilizes these databases to create a highly targeted approach, using real-time insights and user data to serve ads and relevant information to the proper people. Combining these strategies with innovative technologies and an unmatched level of creativity has helped Cotton’s clients stand out from their competitors, creating more quality leads and closed sales.
For more information on how Cotton & Company can transform your company’s business strategy with a personalized approach, visit CottonCo.com.