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  1. 1. Businesses vs Consumers Kobayashi, Manabu R. ECOMEMR K32
  2. 2. The term “SoLoMo” is derived from the words social-local-mobile, where its meaning differs depending on whether you’re a consumer or a business. •Consumer Perspective – SoLoMo applies to the use of social media and physical location with one’s mobile device (Ex: Facebook, Twitter, FourSquare) •Business Perspective – SoLoMo is more of a business opportunity, targeting prospects and consumers wherever and whenever by using similar social media platforms their targeted market uses. • • • Social Media is the platform to promote messages and to interact with your market Local is the area of concentration (can be physical or online) Mobile is the medium of connection between your business and market
  3. 3. Effects in ecommerce • Mobile Online Shoppers VS Web Online Shoppers • Mobile customers in ecommerce tend to be categorized as someone much more likely to buy compared to web online shoppers • Mobile is on-the-go; seeing their needs as more “immediate” • Mobile customers are more outspoken (Facebook comments or tweets) hence companies have the opportunity to maximize their customer care (in result, this would increase customer retention/loyalty) • Physically, mobile devices are smaller which has a greater percentage of someone bringing a mobile device around rather than a laptop
  4. 4. Effects in ecommerce • Advertisements and promotions like never before • Lowers costs for advertisements and promotions since it’s easier to micro-target consumers and prospects • Businesses now have the capability to target a specific market based on location • • Geofencing - a feature in a software program that uses the global positioning system [GPS] or radio frequency identification [RFID] to define geographical boundaries Easier and faster way to reach a wider market compared to a simple stationary billboard along a highway
  5. 5. Solomo “The advanced functionality of smartphones and tablets provides the on-the-go consumer numerous options and capabilities, empowering them as never before.” “SoLoMo has shifted power to the consumers, and they know it.”
  6. 6. 2 years from now SoLoMo, no doubt in my mind, is an unbelievable milestone in the commerce world today. This concept of commerce integrating the simple use of mobile devices with social mediums and locations is just the beginning of something bigger. Marketers and businesses everywhere will go crazy just to have an opportunity to make successful sales. The idea of knowing who wants or would be interested in what you are selling, is seen as something no one even thought possible decades ago. Although, businesses should be cautious with how aggressive they are going.
  7. 7. 2 years from now Aggression towards consumers can lead to annoyance and actually push people away. Maybe aggression was triggered by the shift in power, as mentioned in a quote earlier. Businesses are afraid because they do not have the power, having these technologies nowadays. The way I see it, businesses now in this “new playground” of commerce is doing everything it is capable of doing, flowing advertisements, promotions, information to consumers to the point where everything is full and there is no more room for interest.
  8. 8. I truly believe that businesses should flow with time and technology, which I can see is rapidly growing now. Although SoLoMo is the “thing” happening now, businesses should also prepare for future innovations which might not even involve the use of mobile devices.