What’s a six-letter word for the next big thing in retail marketing? Try “SoLoMo,” a trend that combines social commerce with mobile and location technology.
The buzzword is catching the attention of digital experts, according to an article on Marketing Magazine’s website. Customers who share their recommendations, likes, reviews or check-ins in real time are generating word-of-mouth buzz that greatly influences their circle of peers.
The mobile handheld device is becoming more sophisticated and retailers need to take advantage of that sooner rather than later. Retailers need to ask themselves if they’re ready for the next big thing. Can they do social, location and mobile with their Enterprise Resource Planning and Customer Relationship Management systems?
Issues like PCI compliance with payments and privacy are still going to need to be addressed. If you put their credit card information into your smartphone, consumers want to be confident that their data is secure.
Here’s three ways that retailers can take their stores “SoLoMo.”
- The mobile site must be engaging but simple. Consumers have short attention spans when browsing mobile sites on their smartphones.
- Retailers must enable customers to share their likes, purchases, feedback and recommendations on social networks and emails.
- Always ask consumers to opt-in for marketing on their smartphones. Tailor your mobile messaging to your mobile audience demographics. Send mobile communications during appropriate times during the day.
Source: Marketing Magazine, April 2012