Takeaways from SocialLoco Scott Velicer May 6, 2011
<ul><li>Closing the transaction loop  is the “holy grail” for Location Based Marketing.  </li></ul><ul><li>Business Model ...
Social <ul><li>62% of Groupon users share local deals.  Compelling deals are inherently social.  Enabling sharing is funda...
Mobile <ul><li>Social-Local-Mobile offers the same user experience as traditional purchasing, only MUCH faster. Per Micros...
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Social loco

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Social loco

  1. 1. Takeaways from SocialLoco Scott Velicer May 6, 2011
  2. 2. <ul><li>Closing the transaction loop is the “holy grail” for Location Based Marketing. </li></ul><ul><li>Business Model for Group Buying will change, inherent pressures on buyers and SMBs will alter the future buying model. This will not have a significant impact on us, as we serve relevant content regardless of the financial mechanics. </li></ul><ul><li>When is LBS not creepy ? Where is the line? Opt-in plus context . </li></ul><ul><li>Content was king. Now, customized content is the new king. Catering offers and content to users based on their behavior and location is the next frontier. </li></ul><ul><li>Absence of universal taxonomy for product inventory is a gap, and a huge opportunity – Retailigence is one of the players tackling this problem. </li></ul><ul><li>Groupon and Jiwire discussed their partnership between powering a Wi-Fi version of Groupon Now. They stressed the importance of hyper location, but it’s unclear how they came to this conclusion given that their partnership is using neighborhood level geo-data. </li></ul>LBS Marketing & Commerce
  3. 3. Social <ul><li>62% of Groupon users share local deals. Compelling deals are inherently social. Enabling sharing is fundamental. </li></ul><ul><li>VCs on the panel would not even consider investing in a startup without a major social component. </li></ul><ul><li>How does SocialLoco impact loyalty? Much higher conversion rates. Marketers are now relying on Consumer Advocacy via social channels as an evolution of loyalty programs. </li></ul><ul><li>“ No social experience in not improved by the addition of location&quot;  Gary Gale </li></ul><ul><li>At this point the check-in is a universal social gesture (like friending someone or a status update). This gesture is not “owned” by Foursquare or any other check-in app. </li></ul><ul><li>Debate over active check-in vs. passive check-in – pros and cons of both. Check-in is the tip of the iceberg. </li></ul><ul><li>Social Discovery has become as important as Search. </li></ul><ul><li>Google’s Social Strategy is half baked or it’s a big secret (based on Marissa Mayer’s talk) </li></ul>
  4. 4. Mobile <ul><li>Social-Local-Mobile offers the same user experience as traditional purchasing, only MUCH faster. Per Microsoft, search takes 1 month on average to yield a purchase – mobile takes 1 minute. </li></ul><ul><li>“ Mobile is not a channel, it’s everything in your life outside of work.” </li></ul><ul><li>Mobile is the “ultimate context sensor.” </li></ul><ul><li>There are 3 phases of mobile shopping: Discovery , Engagement , and Transaction . The middle stage, Engagement, is where the biggest opportunity for retailers is. This is where social relationships and relevance filters are likely to play an increasingly large role. </li></ul><ul><li>NFC and mobile payments are the next big thing. Duh. </li></ul>

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