With over 50% of consumers using smartphones, it’s important that small and medium sized businesses take advantage of the latest online marketing trend: SoLoMo
SoLoMo stands for Social, Local, and Mobile: a term combining social networking and geo-location targeting with mobile communications, allowing marketers to engage customers directly in the digital and real world.
Consumers are social buyers, now looking to friends and family as their source of brand information. They utilize their social media networks to ask for advice, write reviews, and share their personal experiences about products they are using. Why is this important? Well, 62% of all online buyers read online product reviews from their friends on Facebook, with 75% of these buyers clicking through to the retailer’s site.
According to Pew, 65 million Americas use mobile or location based services, such as Foursquare and Yelp. Users tag themselves at locations, whether it’s a shopping mall or movie theater, often times redeeming offers and deals and leaving tips and reviews for future consumers. With Facebook’s Graph Search, location will become even more important as users begin searching for local establishments their friends have already visited.
Location-Based Engagement (LBE) is the most attainable form of SoLoMo marketing for small-medium sized businesses. Forms of LBE include: social check-ins (Foursquare and Facebook), tagging tweets, redeeming offers (Foursquare and Yelp), photo tagging (Foursquare, Twitter, Facebook, Yelp, etc), and leaving reviews and tips (Foursquare and Yelp).
It is estimated that 96% of mobile users will research a product on their phone, with 90% of those users deciding to buy within 24 hours of searching. That number is huge for businesses, making it critical for them to put more effort into generating website traffic from users on the go, whether through intense SEO campaigns or implementing responsive web design.
So Why SoLoMo Marketing?
The rise of SoLoMo has made it impossible for brands to ignore mobile technology and social media marketing. SoLoMo is only going to become more successful as consumers continue to use social media to help them make purchasing decisions and smartphones to help them find the closest retailer. And since this digital trend is only in the infant stages, it’s the perfect time for small-medium businesses to start implementing the strategy as there’s lots of room to grow and develop.