White Paper Abstract:
Consumer Packaged Goods (CPG) companies currently use regular promotional strategies like coupons and rebates. While these are proving effective, the evolution of customers demand more services that enhances their shopping experience. Thus CPG companies need to use mobile application and social networking to explore and optimize on new opportunities. This forms the basis of Social, Location and Mobile based service (termed SoLoMo). However, while exploring this platform, CPG companies need to follow certain ground rules. Mobile applications that require complicated actions or steps are unpopular.
Companies should also focus on Android and iOS that encompasses almost the entire smart phone market. Leveraging brand presence through social media is also essential. Solutions like Shopkick and Foursquare enable CPG companies to identify target customer groups on the social media and mobility platforms and create better engagement strategies. A successful SoLoMo strategy requires that CPG companies collaborate with retailers. This, in combination with a strong digital presence is a winning combination.