Location based marketing is the new buzzword among marketers. It is one of the fastest growing areas in mobile marketing. The popularity of location based services and apps can be largely contributed to the rise in the use of smart phones and other internet enable mobile devices.

With an exponential increase in the number of users accessing information on smart phones, tablets and other hand-held devices, it has become increasingly important for businesses today to market services to a localised audience with the help of location based technology. In this article, we take a look at how location based marketing on mobile devices, popularly known or SoLoMo, can work for businesses.

What is SoLoMo?

SoLoMo has become a household name in marketing circles. It refers to Social-Local-Mobile, which is a combination of social, local and mobile. It is one of the fastest growing trends in online marketing and involves using location  based social networks to target consumers based on their current location.

How Does It Work?

Location based services and apps like Quora , which typically employ GPS technology, allow businesses to target new audiences as well as build relationships online by rewarding loyal customers for “checking in” to the business or sharing experiences with others.

 How Location Based Marketing Can Help Your Business?

A new study conducted by the Pew Internet & American Life Project found that 74% of smart-phone users use location-based services to find out information on products and services around them.

Listing your business on location based services opens up your business to a whole new world of opportunities. In addition to the direct benefits of being listed on popular services, you can increase your reach manifold as consumers share information, experiences or reviews about your business with others.

Benefits:

Location based services offer several benefits for businesses. Here are some ways a business can benefit:

• Tap into the mobile marketing boom
• Most location based services are either free or low-cost
• Take advantage of customer reviews available on most location based services
• Promote products and services to local markets
• Run highly targeted campaigns with high conversion rates
• Build relationships with customers
• Take advantage of rise in popularity of coupons & discount vouchers (Coupons are an integral feature of many location based services)
• Use the check-in facility to identify loyal customers and reward them with offers, deals and discounts.

Location based services can help any business, however small or large. Whether your business offers flower delivery to your local area or Web design services to a global client-base, you can benefit from the use of location based marketing. It can help you to expand your reach and get your business noticed in front of an ever growing user-base.

Are you Leveraging Location Based Marketing for Your Business?

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