SoLoMo might seem like just a new trendy cocktail, but this new buzz word is revolutionizing the digital marketing world. Social local and mobile marketing allows brands to form a deeper connection with consumers. For the first time, brands have data of people’s demographics and location in real time. This information allows companies to target consumers more effectively at a moment in which they are close to making a buying decision.
Today, consumers have shifted from using computers to using their mobile devices. Wi-Fi is becoming widely available in most public places, which allows consumers to surf the internet and connect socially almost anywhere at any time.
For Brick and Mortar retailers who have been losing sales to e-commerce, this is good news. Brick and Mortar retailers can now can speak consumer’s language and connect with them allowing retailers to attract consumers in close vicinity and close a sale faster. This is how it works: A consumer walks in front of a brick and mortar store, and automatically gets an advertisement from that store, due to the fact he or she is in near proximity. The consumer then decides to go into the store, and automatically gets coupons sent to his/her mobile device. He/she then can use those coupons at the store.
The question remains, which brick and mortar store will be the pioneer in SoLoMo? Fashion retailers like Zara are investing heavily in mobile apps, and are expected to shift their marketing towards SoLoMo, but who will do it faster? Clearly, the one who wins the race will gain a significant competitive advantage.