The Importance Of Microstrategy
The typical approach to marketing evaluates target audiences and forms a strategy for reaching that market segment. Makes sense right? It does, but developing a microstrategy requires a deeper level of analysis and planning to understand beyond the broadly defined target market. Microstrategy is making a concerted effort to understand what types of information individuals are seeking, how they prefer to receive it and from what sources.
The need for microstrategy comes on the heels of the emergence of social media. In most cases, even when a market is divided by segment, there is still a broadcast-style approach to communicating with that audience. Problem is: consumers no longer find that acceptable as a sole source of communication with a company. Consumers demand interaction. Consumers expect more from a brand and are more-than-willing to open their wallets for those that have developed that connection.
Not surprisingly, developing a microstrategy is both time consuming and difficult. Surely a marketer can't develop a strategy for each individual in a target market. All the analytical tools and manpower in the world can't keep up with the pace at which new information becomes available. So where does this leave marketers? On the one hand, consumers demand individual attention and on the other, companies are ill-equipped to provide that level of attention. Ultimately, a healthcare marketer needs to put together a microstrategy focused on understanding the consumption of information in each of their target markets and a plan of action to become an active participant in facilitating that consumption.
There is no denying that microstrategy is a significant undertaking that goes well beyond the current level of analysis needed to form a marketing plan. Many marketers are scared off by the thought of having to develop this level of understanding in order to execute a successful marketing plan. The response is to forego microstrategy planning entirely. Bad move. Think of microstrategy like influencer relations. By understanding a target market's consumption of information and the key influencers in that process, a brand or company can become an integral cog in that process.
Daunting? Yes. Necessary? Absolutely. If companies fail to incorporate microstrategy into their planning process, people will gladly turn their attention to those that do.