A few years back, the marketing world started whispering a new buzzword: “hyperlocal.” Then the whispers became louder, and before long, people were shouting it from the rooftops: “Hyperlocal marketing is the new way to do business!”
Except the only thing new was the word itself.
In fact, hyperlocal marketing is one of the oldest strategies in the proverbial book. But what exactly does hyperlocal marketing mean? More importantly: Should you use it? Let’s discuss.
What Is Hyperlocal Marketing?
Think of your local newspaper. It’s full of ads for businesses that have one thing in common: They’re all near you. If you live in Chattanooga, Tennessee, you wouldn’t expect to open the paper one morning and see a classified ad for a used Dodge in Delaware, or a coupon for a bakery in the Bronx. You’re way out of their target market, so there’s no need for them to waste time and money trying to earn your business. It’s simple geography.
That’s the principle of hyperlocal marketing. It’s spending your advertising budget on the people in your ZIP code, city or even neighborhood.
How Can Hyperlocal Marketing Benefit Your Small Business?
Here’s a stat for you: More than 80% of business transactions occur within 15 miles of the customer’s home or office. Yes, you read that right — 80% of your current and potential customers are practically within shouting distance right now!
In fact, you don’t have to shout to meet these people because you can reach out in other ways. Sponsor a local event. Do a plug on a radio or TV show. Volunteer in your community. Put on your networking face and attend Chamber of Commerce events with your business cards in tow.
Reaching out to the people in your area is an incredibly effective, low-cost way to get some good PR, establish a recognizable brand and create regular customers.
Is Hyperlocal Marketing Right for My Small Business?
In a word: Yes! Hyperlocal marketing is even more beneficial for small brands than it is for bigger businesses, simply because you don’t have the same kind of name recognition (or real estate) as Walmart or McDonald’s.
Hyperlocal marketing can help you control your advertising dollars by making sure they aren’t thrown after people outside of your target market — and what small business doesn’t need a better-balanced budget?
Hyperlocal marketing is worth the “hype,” and when you apply its principles to your marketing strategy, the world (or the neighborhood, at least!) is your oyster.
Looking for some more cool concepts to adopt? Mischa Communications has plenty more tricks up our collective sleeves! Get in touch today and let us take your marketing strategy from “meh” to “marvelous!”