What Every Marketing Professional Ought To Know… SoLoMo
Have you heard of the latest buzzword rolling off every marketing professional’s tongue?
Yes, you heard it right. It’s the era of SoLoMo!
Wait a minute, what does SoLoMo mean?
SoLoMo is a marketing strategy that focuses on 3 areas – Social, Local and Mobile. According to Drew McLellan, SoLoMo takes the form of mobile phone apps that combine social networking and location data. In other words, SoLoMo is a success precisely because these 3 elements complement each other.
So how do the 3 areas complement each other?
Important Statistics You Should Know
According to Think Mobile with Google,
- 65% of smartphone users visit social networking websites
- 61% of smartphone users cite word-of-mouth as the main motivation for mobile search
With the numerous social media channels out there (Facebook, Twitter, LinkedIn etc.), everyone is bound to be active on at least one platform!
Sharing is also made easier and convenient due to the rise of social media. By adding social media sharing buttons in your website, your audience can simply click on their preferred social media sharing button and the page or post will appear in their friends’ newsfeed. The addition of social media sharing buttons will tremendously boost page views and sharing stats.
Social media marketing is a marketing strategy that focuses on word-of-mouth. By clicking on a social media sharing button, your fans can disseminate your company’s news and offers to their friends and relatives. Since most people trust their friends’ and relatives’ recommendations, there is a higher chance that they will become your next customer!
Benefits of Mobile Marketing
70% of all mobile searches result in action within one hour while 70% of online searches lead to action within one month. [Source: Borrell Association, 2011]
9 out of 10 searchers have taken action as a result of a smartphone search. More than half of these smartphone searchers purchase the product or service! [Source: Think Mobile with Google]
Did you know that smartphones are embedded into our daily lives? 91% of smartphone owners have their phone within arm’s reach 24/7 [Source: Morgan Stanley, 2011].
In other words, mobile is the only channel that provides access to potential consumers 91% of the time! Why not take advantage of this?
Mobile is now the top channel for connecting and engaging to customers.
Location Based Services (LBS) are services that utilize location as a key ingredient of providing relevant information to users. These services use specific location information for delivering the right message to the right person at the right place and time [Source: Mobile Marketing Association].
LBS works well with mobile. Think Mobile with Google reports that 95% of smartphone users have looked for local information and 88% of these users take action within a day.
In essence, the combination of LBS and mobile helps companies speed up their sales cycle, be it B2B or B2C.
In order to catch up with the marketing trends, you have to start implementing SoLoMo now!
Not convinced yet?
Then, look at the success of Foursquare (a prime example of SoLoMo)! Just like the benefits stated on its homepage – share your experiences (Social), discover what’s nearby (Local) and the fact that it’s an app (Mobile) – Foursquare is a perfect example that illustrates the power of SoLoMo!
Are you ready to ride the wave of SoLoMo?
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© 2012 nicole-cw