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SoLoMo Infograph Shows Impact of Mobile and Social on Locale

If you own a small, brick and mortar or service business, you need to know about SoLoMo. Don’t worry, it’s not illegal, it’s not even really a secret, it’s just a cool acronym that combines three of the hottest trends in marketing – SOcial, LOcal, and MObile.

Last week, Frank asked the question, “Is Doing Mobile a No-Brainer for Your Company?” Well, of course it is. Everyone has to have mobile. . . because . . . look!

Gotta have a piece of that, right? But check out this block from the new Monetate infograph titled “Retailer’s Guide to SoLoMo.”

Ouch. That’s a lot of thought for only a 1% conversion. Maybe mobile isn’t the yellow brick road after all. But wait, before you fire your developer, take a look at this;

Conversions may be lousy but that doesn’t mean mobile isn’t helping your business. Clearly, folks are using their smartphones to make local decisions. As the business owner (or marketer for the business), it’s your job to make sure that your information rises to the top of the internet heap.

The most interesting circle on this chart is the middle one. A person who uses their phone to find a local business or service is almost always going to act on that information right now. That means you have a small window of opportunity to swing them over to your side of the street. If they click through to your website and it doesn’t load quickly, they’ll move on. If they can’t find your address quickly, they’ll move on. You can be the very best at what you do, but if the guy down the street has a mobile app with weekly coupons – you’re going to lose out.

Which brings me to this:

Talk about a no-brainer. If it’s in your power to build a useful app around your business, do it because that app percentage isn’t going to get any smaller.

Does every business need a mobile presence and a dedicated app to succeed? No. Will a small, local retailer or restaurant benefit from mobile? Definitely. No more excuses. Get on board.

For you die-hard infographers, here’s the entire graphic: