Infographic: The Retailers Guide to Social, Local & Mobile (SoLoMo) – Forbes.

There’s an ancient Chinese proverb that states, “Don’t open a shop unless you have a great smile.” It now needs to be appended to, “and that smile can be seen on any mobile device.”

If you’re a retailer, it’s getting harder to remain competitive when the competition is driving more customers through their doors because of their focus on social, local, and mobile (geek term: SoLoMo) technologies.

If you’re a retail customer with many of the millions of smart phones, you’re most likely finding new places to eat, shop and explore due to some clever SoLoMo campaign that you’ve seen.

According to Monetate, here is what you need to know:

Social Drives Traffic

55% of people use their mobile phone to access social networks. Most of those on Facebook. That means retailers have an opportunity to hyper-target their customers and engage in discussions like never before.

Local Drives Action

If you’re like me, you use your smart phone to research restaurant reviews, prices at the stores, or find new stores nearby that fit our needs at the time. That trend is only accelerating. Retailers must be easily found on mobile devices and ensure their customer service is top-notch because the local community is grading them online for all to see.

Because, even if the retailer is easy to find using a mobile device, but their ratings are terrible, it won’t help the retailer drive traffic. In fact it may backfire.

Mobile Drives Opportunity

There are many ways to create additional foot traffic with mobile technologies. But there are better methods than others depending on your situation. For me, I’ve used coupons on Facebook and FourSquare, and used Yelp to decide on restaurants. This is a good place for retailers to start.

I also often use my phone to visit a retailers web site – and if it’s not optimized for mobile devices, you risk losing people that don’t have the patience to pan and scroll.

I’ll let you read the rest of the infographic for a quick overview of how to take advantage of SoLoMo opportunities. It’s still early, but increasingly, SoLoMo will play a huge role in how profitable retailers become.

Source: via Mark on Pinterest

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