Much has been written regarding SoLoMo (Social-Local-Mobile) and the change it brings for marketers. If this is a new term for you, here are a few links for you to see what others have been saying about it:
This may just be my take on it all, but for me this whole SoLoMo effort is really about being where customers want you to be. If I am at the local Lowe’s and I have given you permission (more on this later) to engage with me, I want you (“The Brand”) to alert me that it’s about time to change my furnace filter in the house and that I can get that filter in Aisle 15 and oh by the way while you are here here is a 25% coupon for other things you might need (light bulbs, for instance). That might be worth all the things I am giving away.
What are you giving away to The Brand? Well, your location for instance. The Brand has to be constantly monitoring your location to know where you are (are you ok with The Brand knowing that you also spend alot of time at the local Starbucks?). You also will be adding lots of details about your house (furnace filter size in this case and the last time you changed it). Think about the value of that information to local air conditioning and heating service companies (maybe The Brand is selling this information to them?).
A very smart person once wrote: “When you are getting something for free, YOU are the thing being sold.” Very prophetic words, and if I remember right they were talking about all the information folks regularly share on Facebook. But who cares when you are getting value for the information. I have long been known to say myself that “consumers will be exploited very easily for a few sheckels.” But in my example, I personally would be ok with that value exchange. Because I usually buy the wrong furnace filter size, I always go too long between changes and who doesn’t love an unexpected coupon.
So what all have I been rambling about? Well SoLoMo will only accelerate the need to go through this value exchange between brands and consumers. And while there is a practical element in properly telling the consumer what they are giving and what they are getting, there is also a very interesting regulatory challenge here. What are the regulators saying about proper disclosure? What about location privacy? And what about personalized marketing in what are essentially hyper-public venues?
So that is what I am hoping we can get into in this blog. Semi deep dives into each of these areas. Along the way, we can talk about some of the more interesting stories that are happening. I hope you enjoy this blog. If you have any comments, you can leave them below. And if you want to reach out to me to talk more privately, you can always email me at firstname.lastname@example.org. And in conjunction with this blog, I am also launching a new Twitter feed, so you can follow me at @solomolaw.