So LO MO What every business needs to know about new marketing Strategy Ralph Sherman @ Madison2main
Social-local-mobile Term first coined by John Doerr, famed internet start-up investor at Kleiner Perkins Caufield & Byers. Describes the major levers in building successful businesses in the next decade.
Drivers of SO-LO-MO Social Networks: Inter-dependent Communities of Interest Main Street: Local, Shared, Accountable Media Smartphones Instant Empowerment & Scale
SOCIAL: Participation Juggernaut 60 seconds of Social Media sharing— constant conversation is changing behavior, “democratizing” brands, consideration and purchasing.
Apps Transforming Purchase Behavior—Not just eyeballs but sales
Local: New Media is new “point of Sale” Old Media: Awareness (Reach) Attitude (Brand) Action (Push- Not Interactive) New Media: Shared (Targeted) Rated (Trusted) Anywhere (Interactive) “Participating” “Broadcasting”
Local: Enablement/Activation tools growing Tech Device Penetration & Expanded Demographics: Smartphones everywhere and people who know how to use them Apps That Make Money: Many more proven models for monetizing search, visits and clicks QR (Quick Response) Codes: Scan for “real-time” info and options (e.g., compare, share, activate) Targeted Data: Sites getting better at capturing, packaging and selling detailed customer data