Have you ever heard the expression “time is money”?
Well, it turns out location is money too and probably contributes more heavily to a customer’s decision to invest or shop with your company than anything else.
In order to literally put your company on the map it is time to think of some innovative and essential practices known as SoLoMo Marketing that will let people know who you are, what you sell and where you are all with the click of a few smart phone or computer buttons.
Decoded, SoLoMo Marketing translates into: Social, Local and Mobile Marketing and it applies 360 days of the year, 24 hours a day, seven days a week – not just on Christmas Eve.
Mobile phones accounted for $159 billion in sales for 2012, but their conversion for e-commerce came in at a measly 1.3%. Obviously there is an untapped opportunity here to generate massive revenue for companies if they know how to do it.
If you want to get a feel for SoLoMo Marketing at its finest take a look at websites like urbanspoon where restaurants have cornered the niche and created a specialized search engine that allows potential customers to find them quickly and, most importantly, at the top of the search result list.
In a nutshell SoLoMo Marketing is: “a term used to describe marketing practices that take advantage of mobile phone apps, which combine location data with social networking. It provides marketers with an effective tool to engage their customers directly with the brand in the digital and real world.” December 11 2013 Travel Daily News
As people become more accustomed to accessing information on-the-go, it is imperative that your company puts all its efforts into generating hits which translate into coming up at the top of the search engine.
Smart Phones have lately become that much smarter and pre-filter search results based on GPS data. In the case a customer walking around a shopping mall, who merely punched in a product name, the results that would came up were all stores that were in that mall – convenient, no?
Proximity matters when making a sale. The numbers show that 96% of mobile users have researched a product on their phone and that 90% of users take action within 24 hours of searching. That number is a hugely positive stat for business, but it means that the pressure is really on for companies to pull their websites together and make them mobile friendly so they load fast and show the customers what they are looking for.
Instead of being at a crossroads in life, customers are at a crosswalk and if your site isn’t popping up first on a local search or is overloading their phone then they will not be crossing over for an in-person browse in the shop.
The Internet is fraught with competition these days though, so, to take a leaf out of urbanspoon’s book, it is vital that small businesses create a designated app or buy into an app that will showcase their name to mobile users.
Note: 81.5% of mobile users use apps, while only 18.5% actually browse the web.
If this statistic isn’t compelling enough, keep in mind that SoLoMo is an up-and-coming trend so you are buying into something in its fledgling stages that only has the ability to grow and become more successful. In layman’s terms this would be described as ‘catching the wave’.
It’s time then to suit up, grab your phone and – if you like the surfing life perhaps your life jacket too – and jump into the SoLoMo Marketing strategy pool.
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