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The power of microtargeting – are you targeting your prospects effectively?

As a marketing consultant of 40 years, it astounds me that businesses are still using aged techniques to target prospective customers and clients. It’s an archaic venture if you ignore microtargeting and should only be reserved for those who can afford to be that complacent. The likes of ‘big brands’ have the budgets to waste if they wish. They can afford to, and typically they have the profile to influence a market on mass, so wastage is not necessarily a concern as long as they are hitting a significant and sizeable interest base of prospective customers.

It is a process that works for them, and although they will conduct an incredibly sophisticated analysis of their market and try to target effectively, the mediums they invariably use will always contain a high degree of wastage.

So, what is Microtargeting?

Microtargeting takes on two guises. For B2C, it is identifying an accurate custom audience based on research and understanding of incumbent customer needs and habits and correlating that with a prospective wider audience. That is the simple version.

‘For B2B, it is the same, but involves a much deeper communication process.’

The broader explanation of microtargeting, typically in a B2C environment, involves collecting and analysing vast amounts of data from various sources, such as online behaviour, social media activity, shopping habits, demographic information, and more. This data is used to create detailed profiles of individuals or, in real terms, small groups, enabling marketers to understand their preferences, interests, and needs.

Once the microtargeting segments have been identified, advertisers can craft personalised messages and campaigns that resonate more effectively with these specific audiences. By tailoring the content to match the interests and characteristics of the targeted individuals, marketers hope to increase engagement, conversion rates, and overall return on investment.

Microtargeting has become increasingly prevalent with the growth of digital advertising and the availability of big data analytics. While it can be a powerful tool or set of tools for reaching the right audience, it has also raised concerns about privacy, data protection, and the potential for manipulative or divisive marketing practices.

Staying ethical, being responsible

As marketers, the best practice is to take the ethical route; privacy is essential. It can be a dangerous route to destroy privacy for marketing gain, and indeed not good for PR.

Microtargeting means we are now exploring a more analytical affair, and the technology is allowing us to target more effectively than we have ever been able to do so in the past.

B2B Microtargeting – why does it go deeper?

The process is very much the same but comes with a significant difference. In B2C, we look at those small groups or interest groups we can identify and communicate with. In B2B, especially those that offer a specific service to an interested target audience, we look at targeting an individual, a named person or persons.

A well-documented statistic states it takes 2.5 people to make a buying decision in the B2B environment. So, we aren’t just targeting one individual. We are likely targeting a final decision maker and those that influence that decision around the specific decision maker.

‘A game-changing deeper microtargeting strategy for B2B is to identify the person or persons.’

Understanding this scenario is a real game changer for companies that trade within a B2B environment. Unfortunately, it is a scenario that is often overlooked and can be a costly mistake. It is all about collecting high-quality data and effective communication, ensuring you are micro-targeted in your efforts.

To some, this may sound obvious. So, why, in a B2B environment, why are businesses spending a great deal of time targeting other companies without considering who the decision-makers are? That can only be described as real-time wastage!

Learn more about Microlead!

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