LBS – location-based services have increasingly been ingrained into the daily habits of consumers, going beyond vehicles to PCs and the mobile. With the growth and penetration of smartphones globally, not only are LBS apps being constantly developed, piloted and experimented in more markets by startups and established Internet brands and companies.
From my market observations and discussions in Quora, I believe LBS in the market are being driven by the following drivers:
(1) Emotional/Informational needs drivers:
1.1 Gamification, social leaderboards
1.2 Time capsule/journal
1.3 Bookmarking future intent, to-do list
1.4 Connecting with people, new friends
1.5 Leaving useful tips behind.
(2) Rational/Gratification targeting drivers:
2.1 Price comparisons
2.2 Get recommendations
2.3 Hot deals
2.4 Businesses seeking to capitalize on targeting on-the-go consumers (owned, paid, earned).
LBS apps in the market, whether in Location-based SNS, Location-based deals to retail or simply a navigational utility, have worked their way into the daily habits of today’s mobile on-the-go consumers, bearing differing levels of frequency and retention in usage.
From these focus areas in daily habits usage, different business models are being experimented by LBS companies.
Business models follow to provide ancillary value for businesses, in the drive to retail O2O business. But no one model is yet a proven model.
In the discussion, I use a Social/Reach versus Tangible Value/Richness 2X2 matrix for LBS players. I focus on 3 key leading players (in my view) in the Southeast Asia/Singapore market - Hungrygowhere, Yelp and Burpple as examples and I have left out Global players like Foursquare, Tripadvisor, other regional players like Openrice, Zomato in this analysis. Niche players like Perx, Harpoen, SGMalls, Spawt, SGSportsBar are currently in the emergent and market tapping stage.
Last but not least, a little about SK planet where I am now at:
SK planet, a subsidiary of SK Telecom and part of Korea’s 3rd largest conglomerate, SK Group, has a long-standing experience in the LBS portfolio, having explored, tried and tested various LBS app concepts for more than a decade. With T-Map and OKMap, SK planet has maps and content experience in LBS. With NaviCall and Gtrac, we cover the Enterprise business areas in LBS for Taxi call booking and commercial fleet management. With Pickat, SK planet is leveraging its LBS experience and know-how and testing the markets in Korea and Singapore (http://www.pickat.com.sg, http://www.facebook.com/pickatsg) on discovery, social and curation aspects of LBS offerings with consumers and local businesses.
Do refer to "How has LBS evolved into the daily habits of consumers and business models for businesses?"