Today’s mobile-armed and socially networked consumers are demanding new and more convenient ways to shop that meet the needs of their evolving lifestyle.
As the consumer begins to favor newer methods of communication, like social media, these channels and technologies have created new behavior patterns in consumers, which in turn unlock new opportunities.
The new wave of Social, Location and Mobile based services (termed SoLoMo) can help retailers engage with their customers using digital platforms. Retailers must also learn to communicate with their customers over these channels, using these channels to shape and develop new promotional models that can influence purchase decisions in a non-intrusive manner.
Vivek Venugopalan of Wipro Technologies in his recent article, Influencing Customers’ Buying Decisions through Digital Platforms, provides some ground rules that CPG companies could follow in developing their SoLoMo strategy.