1. SoLoMo = Requires a new mindset
Long gone are the days of ‘information asymmetry’ where the marketer controlled the information and the consumer simply received it. Now, there are globally over a billion smart phones, tablets and other devices out there. So marketers need to develop a different mindset because there isn’t any area or business in the world that hasn’t been affected by this influx of technology and new ways of communications.
2. So+Lo+Mo = Opportunity
Social, Local, Mobile (SoLoMo) represents three very important facets of a rapidly changing marketing landscape. If you draw each facet individually as a circle, the area where all three circles overlap – that’s where you have an opportunity.
If you look at what Google is doing with Carousel or social search, increasingly the game of being found is changing rapidly in favour of “local”. Everyday Amazon sends us emails with a “local” offer. And one way to effectively use “local” is through “mobile”. And once you’re there, you’re “social”. When you’re able to look at this combination of facets from a different mindset, that’s where you’ll be able to find the greatest opportunity.
3. Online experience = offline experience
Marketing needs to become more relevant and personal for customers. Online and offline customer experiences need to merge in a way that there is no gap between what consumers are expecting and what businesses are delivering. Lots of companies are struggling to close that gap. One way to have a more unified experience is by internal employee alignment so that the inside folk or front line staff know what is being said on let’s say your company’s social platforms. So that no matter which channel or platform your customer is on – you’re able to keep up with him or her from a relational and data point of view.
4. Customer first, platforms later
We need to focus on the customer and find out what brings value and utility to the customer in the context of local, mobile and social when it comes to your product and services. And then use platforms to create an experience that will be valuable for them.
5.SoLoMo works for all
Whether it’s for a small coffee shop or a large retailer, SoLoMo works equally well for small and large businesses. For instance, a coffee shop in California was able to integrate a very successful SoLoMo campaign by letting their consumers check in on Foursquare and comment, receive offers and enter competitions on multiple social platforms. The coffee shop also ensured that their consumer’s online experience was consistent with the in-store experience. Another example is that of global giant Wal-mart – they have been experimenting with an app that allows customers to make their shopping list online and once customers enter Wal-mart, it recognises the store, directs customers to the listed items and makes suggestions on what to buy.
6. Don’t get tripped up by ROI
Understand the goals and objectives that you have for your SoLoMo campaign but be careful not get to tied up in measuring ROI. Often times, there are multiple channels and it is difficult and complex to capture all the information needed to make that assessment. But there are always other ways to measure your SoLoMo effectiveness (for instance – social media engagement, FB shares, likes)
7. Will companies act like humans?
As businesses become more social, consumers will expect companies to behave like human beings rather than corporations. The way businesses can address that is to become internally more social so they can listen, inform and appropriately develop so they keep up with the consumer.