Summary: I recently received the eDM below which makes use of quite a number of internet buzzwords which makes the message rather obscure (of course some would argue that the message may look very tech-savvy). Below I will try to explain the buzzwords in a more plain and approachable language.
Here is the eDM:
The text highlighted in blue is where the buzzwords are. With the explanation below, you will see that all the concepts presented are actually very familiar with this generation of netizens. You should have already seen/experienced/done that before. The message is essentially “We help you to utilize social networks (in particular the Facebook) and the data collected to drive your sales”.
SoLoMo is the acronym coined by John Doerr referring to Social + Location + Mobile. SoLoMo is about the combined opportunities of:
- mobile platforms, e.g. iOS and Android;
- social networks, e.g. Facebook and Google+;
- local commerce, e.g. the local shop.
O2O is the acronym for Online to Offline. O2O is the use of online and/or mobile channel to drive offline local sales or redemption. The use of the Facebook to publish coupons is an example of O2O tactics.
Big data can be considered as the sum of all data captured. The data is usually so big that special help is needed to process and analyze the data in order to capture valuable information. Google provides Google Analytics as a free tool to help webmasters to analyze the big data collected from visitors of their websites.
SNS stands for Social Network Service. A social networking service is a platform for building social networks. The people using SNS may know each other in real life or just in the cyber space. The most famous SNS is the Facebook and businesses are flocking to the Facebook for ‘free’ advertising opportunities.
An important fact to heed is that Facebook has limited the reach of each individual posts to only 16% of fans. Unless one is willing to pay for sponsored post, Facebook is becoming more irrelevant in the promotion channels.