New terminology gets batted around very quickly, but actually understanding the new concepts takes a little more time. The best place to start with SoLoMo (Social Local Mobile) may well be an infographic from Nielson and NM Incite. The infographic breaks down how consumers use the social, local and mobile market to influence their selection of brand and consumption of products. It’s extremely valuable when thinking about your customer and how they reached you. It also focuses on the numbers. Parents are 23% more likely to use social media than non-parents. 62% of adults use their TV at the same time they use the Internet. Visits to coupon sites are up 11% since 2009. The infographic also shows how consumers are influenced by brands their friends like and use. We are definitely social creatures.
We cherish our circle of friends and rely on them for references and listen closely to their dislikes. How many times have you decided to try a restaurant simply because a friend recommended it? Businesses want consumers to think local. They want to capitalize on geo-locations and capture the interest of the consumer at their doorstep. With the increase in Smart phone usage, consumers seek out goods and services based on physical location. Smartphone users look up coupon deals and make use of Google Maps to find those deals.
It is estimated that 50% of the US will own smart phones in 2012. That’s an amazing number. We are a mobile society and having access to more accurate and current information instantly has become paramount.
I read with interest an article, The Truth About SoLoMo by Fred Cavazza on Forbes.com. It’s a good read. In the summary of his article he talks about the importance of getting everyone in your organization thinking about how your company will do business in the Social, Local and Mobile market. His second point suggests that even with changing trends, it is still all about the content. Good quality content. Read the article – he has a great perspective.
Doing business on the internet is definitely about engaging – Engaging your team, your suppliers, your designer, and your consumers. Differently, perhaps, but engaging just the same.