SoLoMo is a strategy used by most businesses today. Almost everyone nowadays has his or her own smartphone. People use their smartphones to do just about anything in their everyday lives. SoLoMo is an easier way for businesses to connect and gain information to their possible customers. With today’s technology, everyone will have anything and everything within their reach.
So in SoLoMo stands for SocialWith the use of social websites, companies will be able to communicate, interact and spread important information to customers. Also, social websites can either promote or destroy a business this is why businesses should be alert and keep an open minded to whatever information they decide to share. Also, customers can connect through these websites to also gain information about the business.
The Lo in SoLomo stands for LocalThrough the localization of products, customers will be more inclined to buy from these businesses using this strategy. Also, they could check in their smartphones and look for reviews and the distance to whatever business they would want to see.Since SoLoMo is online, it would be easier for people to understand whatever is written in the page because they would have a choice to pick the language they would want to use.
Lastly, the mo is SoLoMo stands for MobileAs I have stated earlier, almost everyone now has his or her smartphone. Companies looked at this as an opportunity for their customers to get to know the business more. Also, through applications mobile users will have a more convenient time in searching for what they want.
SoLoMo is strategy that is more advantageous to small time businesses since these businesses are not yet well known to the public.Businesses will be able to reach their customers from different parts of the market and they will be able to generate awareness by providing them information about their business. This gives them the time to be creative and attract more customers.Also, with the growth of e-commers, posting things online for a huge audience is an easier way to promote a business. Also, it saves time and effort because labor is not a big problem.
Barriers to entry are lower: since Solomo is an online strategy, almost anyone can enter the business and almost anyone can do it.Opens new opportunities: SoLoMo opens new opportunities especially to small businesses because not much capital is needed to get noticed by the publicIncrease of expenses for advertising: Implementing this strategy does not come cheap because there are a lot of things to do and to know about SoLoMo and how to use it so that the public can use and see a business’ informationHighly competitive market: since the barriers to entry are low, almost anyone can enter the market. This means that more businesses will equal more competition
SoLoMo in 2 years will still be an effective strategy to businesses, because technology is still on the rise. There are improvements and innovation in technology as time flies. This makes SoLoMo more popular to businesses because people, sooner or later will be using their smartphones to do just about everything. This strategy will be an effective and efficient way to increase sales.
SoLoMo is a Marketing Revolution.There is a huge increase in online businesses now. Also, the fact that almost every business can be searched in Google is what makes SoLoMo an effective strategy. Businesses are taking the opportunity to be noticed by a huge audience. There is no doubt that e-commerce will play a huge role in society in the years to come.Sources:http://socialmediatoday.com/jacey-gulden/1429651/solomo-what-and-whyhttp://www.hashtags.org/business/management/what-solomo-means-and-why-you-should-care/
Solomo: A Marketing Revolution
Inna Basilla K31
Everyone and everything
is within reach
• Mobile Users
SoLoMo: Effects to E-commerce
Save time and effort
SoLoMo: Implications to Ecommerce
Barriers to entry are lower
Opens new opportunities
Increase of expenses for advertising
Highly competitive market
Easier to get noticed
SoLoMo in 2 years: An Effective and