Why Retailers Should Have a SoLoMo Strategy

June 21, 2012 by  Filed under: Marketing 

Years ago marketing was simpler, put an ad in the yellow pages, and you’re done. Today, people have changed. The Yellow Pages and phone books in general seem to see more use as a doorstop rather than an actual source of information. The internet has replaced a lot of sources of news and information that we used to rely on. Thanks to this shift in internet dependence there needs to be a shift in marketing to get your product and company out there and recognized by customers.

Social, local and mobile, AKA SoLoMo, is a recent trend in software and app development that targets customers closer than ever before, at their phones. The average person checks their phone when they wake up, and right before they go to bed. Many people even risk their lives just to check and see who is texting them, while this isn’t condoned it shows how addicted most people are to their phones. A growing number of people consult with their phones before making any purchasing decision.

69% of people shopping offline use their mobile phone to check prices and reviews first. 59% of mobile phone users use their phones to share content while they are shopping. With SoLoMo, you can leverage this and push more people to recognizing your product and get them to shop at your online site, rather than their offline stores.

SoLoMo can help your business in a variety of ways, but mainly it’s by getting customers without selling them. When you set up an advertisement you need to sell your customers, with social and mobile media people trust your message more. Whenever someone tweets about the excellent deal they got at your store, their friends and followers will flock in to get the good deal too. If their friends and followers liked the deal just as much, they will retweet it and send it to all of their friends, the power is exponential and that’s just one platform.

So how can you leverage this to your advantage? One of the most powerful ways, that you see a lot anymore, is by offering discounts for those who “Like” your Facebook profile. You can do the same with tweeting to their friends and send them a coupon code for a small discount on their next purchase. As you can see, the key to getting this strategy started is to incentivize the process. If your product and store are compelling enough on their own, it will naturally become a viral topic and people will always be tweeting and liking your social profiles thus getting you more business. It’s all about getting that initial push to get your online site recognized.

As you can see, these strategies are powerful when you have a good plan to execute. Social media and mobile phones can be powerful marketing tools, but they can turn on your quickly if you have a bad plan. Social media is just now turning into a place where businesses and customers can converse because businesses saw the potential in this. Now the next big thing for companies to leverage is mobile phones, and the first company to combine the two in a flawless manner will be rich.

SoLoMo strategies are helping major retailers improve their bottom line; learn more on our webpage.

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