solomo commerce + the internet of things

SOLOMO (SOCIAL-LOCAL-MOBILE) COMMERCE

SoLoMo - the convergence of collaborative, location-based and on-the-go technologies

• Such apps allow advertisers to push notifications to potential customers who are geographically near

• Many of such a service incorporate some gamification aspects

• Its principles are increasingly incorporated into search engine queries

UNDERSTANDING SOLOMO

1. SoLoMo arose as a result of the popularity of smartphones and tablets that integrate geo-location technology. The GPS technology integrated into these devices provides more accurate geo results than the "IP mapping" approach necessary for home or office PCs.

2. Big search engines are recognizing that there is a large - and virtually untapped - market in local search. That's because there are a lot more "mom and pop" operations out there than firms with a national or international scope. When search engines started incorporating more and more local results in search engine results, they proved the size of the local market on the Internet.

3. In order for search results to have accurate local results, they need accurate information about local businesses. Good local search results just aren't possible unless what "local" actually means is made clear. This has proved to be problematic for browser-based search requests. But as an increasing number of searches are being driven by apps, this problem has disappeared simply because most apps have a larger arsenal of tools that allow them to determine exactly where the user is.

(source: technopedia.com)

EFFECTS OF SOLOMO COMMERCE TO SOCIETY

PART 1: to people

1. Could be a useful mobile feature if you would like to detect a nearby business


2. Can impact the positive impact of a business in a single share


3. A much convenient way to seek good deals (sort of)


PART 2: to businesses

1. Benefits marketers not only by increasing business, but by transforming consumer behaviors


2. entrepreneurs will be able to customize deals, coupons and offers for individual customers, either based on their prior shopping history with the store, or by way of their likes and shares on social networks

EFFECTS OF SOLOMO TO SOCIETY

3. Considering that 80% of mobile users prefer local-based ads and 75% are more likely to take action after seeing a relevant local ad – this presents a huge opportunity for retailers to segment their offers and reach customers with personalized recommendations.

SOLOMO COMMERCE IN THE NEXT 2 YEARS

SoLoMo in the next 2 years will be more advanced than ever. It could now be a technology in a new device. SoLoMo will, more often than not, be a great improvement in e-commerce.

EXAMPLES OF SOLOMO APPLICATIONS

1. Foursquare (founded by Dennis Crowley and Naveen Selvadural, has 45,000,000 users worldwide

2. ÀroundMe (founded in 2008, has 25 million searches in over 200 countries)

3. Yelp (founded in 2004 by Jeremy Stoppelamn, Russel Simmons, and Geoff Donaker, has 135 monthly visitors as of 2014)

Pictured: Foursquare

THE INTERNET OF THINGS

Internet of things - network of physical objects or "things" embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data

• closely identified with RFID as the method of communication, though it may also include other sensor technologies, wireless technologies or QR codes

• significant because an object that can represent itself digitally becomes something greater than the object by itself

UNDERSTANDING THE IOT

British entrepreneur Kevin Ashton first coined the term in 1999 while working at the Auto-ID Labs (originally called Auto-ID centers - referring to a global network of RFID connected objects). Typically, IoT is expected to offer advanced connectivity of devices, systems, and services that goes beyond machine-to-machine communications (M2M) and covers a variety of protocols, domains, and applications.

"Things," in the IoT sense, can refer to a wide variety of devices such as heart monitoring implants, biochip transponders on farm animals, electric clams in coastal waters, automobiles with built-in sensors, or field operation devices that assist firefighters in search and rescue operations. These devices collect useful data with the help of various existing technologies and then autonomously flow the data between other devices. Current market examples include smart thermostat systems and washer/dryers that use Wi-Fi for remote monitoring.

IOT’S EFFECTS

PART 1: to people

1. Improves the functionality of regular things (i.e. – bicycles, pills, certain machines)

IOT’S EFFECTS

2. Gives certain abilities to items which don’t have those in the first place

IOT’S EFFECTS

3. A good technological companion in healthcare

IOT’S EFFECTS

PART 2: to businesses

1. Updates some methods once considered time-consuming (i.e. – monitoring the condition of a machine)

IOT’S EFFECTS

2. Will positively impact the amount of new startups once the amount of device per inhabitant will increase from 1 in 2012 to 10 in 2017

IOT’S EFFECTS

3. Increases business quality in terms of technology (WIN!)

THE IOT IN THE NEXT 2 YEARS

The IoT is now becoming a worldwide phenomenon. It has helped people in their task, be it healthcare, manufacturing, or just plain household work. In the near future, the IoT will become an everyday companion in terms of regular life. Who knows, your kitchen will become a tech-savvy paradise someday.

EXAMPLES OF THE INTERNET OF THINGS

1. Mimo monitor (infant monitor)

2. GlowCaps (something that fits prescription bottles and via a wireless chip provide services that help people stick with their prescription regimen; from reminder messages, all the way to refill and doctor coordination)

3. Proteus ingestible pill sensor (powered by contact with your stomach fluid and communicates a signal that determines the timing of when you took your meds and the identity of the pill)

4. BiKN (wireless valuables detector)

5. Sight Machine (industrial maintenance unit)

Pictured: GlowCaps

solomo commerce + the internet of things

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