If you read Direct Marketing News, you know that Bruce Biegel, Managing Director for the Winterberry Group, identified SoLoMo as a marketing “focus” for 2013, as reported by Editor-in-Chief Ginger Conlon. But do you know what SoLoMo is?
In a nutshell, SoLoMo combines social media, local business, and mobile technology to identify a mobile user’s location and relay local incentives, offers, deals, coupons, etc.
Advantages:
• You can create highly personalized and customized offers based on the recipient’s previous transactions and through the customer’s likes and shares on social media.
• It speeds the purchasing process.
Disadvantages:
• Privacy is a key concern. According to Kerry Doyle’s Cisco article, “SoLoMo: Why It Matters and What You Should Know,” last August Congress was considering 26 different bills addressing wireless privacy issues.
• Consumers worry about the security of making mobile payments. Regulations are expected to be forthcoming.
• SoLoMo bypasses an organization’s website, eliminating any possibility for providing additional information or upselling.
• It requires the creation and maintenance of an app.
A relatively new trend, SoLoMo is still working out the kinks, a task Biegel expects will extend into 2014. However, it stands poised to become another important technological avenue for marketing departments of all sizes.
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