SoLoMo.

Sounds like it could be a title for a remake of a Three Stooges movie.

Social. Local. Mobile. That’s what it really stands for. It’s what all the experts – yes, the ever-present ‘they’ – say is the most important consideration for any business that wants to survive in the 2.0 world and beyond.

Obviously, we’re placing some big bets on SOCIAL (I guess our name might give it away, right?).

But here’s the thing with Social…there’s a lot of noise in here. We’re always hearing about how hard it is to break through the noise and clutter of the social network landscape. It’s why there are so many social media curation tools and services available. People need a way to find stuff that’s relevant and interesting to them. They don’t want to deal with all the clutter.

Social Commerce is HARD!

That’s where the Lo and the Mo come in.

Let’s take LOCAL first. By being local, there’s more chance that it will be relevant to you. Knowing that there’s a great Sale on at The Gap is good to know – but not if it’s only at The Gap on the East Coast and you’re on the West Coast. BUT, to find out about a shop in your local neighbourhood that is offering a discount or a special deal or even just something that’s really good value – that just may be relevant to you.

Now, for the real kicker – the Mo. MOBILE. It goes with you. (once again, the name kinda gives it away!?!) Wallet, Phone, Keys. That’s the mental checklist we all go through every time we leave the house, right? It won’t be long before that list is reduced to one…MOBILE. Your mobile device will be your Wallet and your Keys too. But that’s a little way in the future (though really, not too far away!). Still, even today, our mobile devices are with us pretty much all the time. Certainly, they’re with us when we shop.

So, when we talk about social commerce we really need to consider mobile too.

According to the International Telecommunications Union, Global Mobile Phone Penetration now sits at 87%. Mobile subscriptions have grown by over 500,000 each year for the past 3 years. In many countries, the penetration rate is well over 100% – USA (104%) ; Russia (153%) ; UK (123%). That means in all these countries everyone has more than one mobile phone.

Crazy, huh? It gets better…

In the United Arab Emirates, mobile penetration stands at 233%! That’s over 2.3 phones per person!

Now try telling me the future is not MOBILE!

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