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February 7, 2012

Geo Local Mobile Web Goes Social : Dawn of So-Lo-Mo

Nielsen Data

In 2008 the location-based advertising market, very much in its infancy, was worth $86 million. 2011 saw the geo local mobile web increase to   $588 million in revenues.
By 2015, Pyramid Research latest  estimates  that location-based advertising will reach $6.2 billion in revenues. That’s 35% of total mobile advertising revenue projected in 2015. When looking at location based services as a whole, these analysts project revenues to grow from $2.8 billion in 2010 to $10.3 billion in 2015. Location-based advertising will represent 60% of that market.

The  mobile marketing is  moving  towards geo local  which will enable marketers to reach the right consumer, at the right time, and in the right place—including at the very moment and point of purchase.The potential power of mobile is further magnified when  users increasingly go local .The biggest advantage of the Social Mobile web going local , is that fact that smartphone users spent most of the time on social networking applications, via their Mobile Web The term “So-Lo-Mo” (for social, local, mobile) has been coined to refer to this opportunity.

The  Nielsen insights presented  above were collected from a survey of nearly 5,000 respondents 13+ whNo have downloaded an application to their device in the past 30 days.

Location-based social networks were one of the top five trends of 2010. Nowadays, location is baked into pretty much everything that developers do. Mobile and social apps are location-enhanced, not location-based. You still can, however, "check in" somewhere using geosocial networks Foursquare, Gowalla and Facebook Places. Location-based services like Yelp utilizes the geographic position of your mobile device to figure out what's nearby.