"SoLoMo" Explanation for Dummies

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Sudeep
September 7, 2013 - 6:36am

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Thomas Power, Founder and Chairman of Ecademy.com, talks about SoLoMo, which expands to about SoLoMo  social, local, mobile. In his view, it is important to embrace them all and how large number of internet and mobile users are present today. They are the trends and many are talking about these three things, and it is the new buzz word that is emerging. He states that there are more than 2 billion internet users, and that Google has over a billion unique views a month, in their search engine and the associated sites. So, now Google has 50% of reach, that is half the market that is going to touch and they are the biggest.

It's Mr. Power's notion that there is huge market yet to conquered out there. He states that Facebook has got 43% reach, so it's only 7% behind a giant called Google. There are so many languages and users of those that top up the number to the internet users. Following, he says, when you look at the number of smartphones, that's a very hard data to get, of smartphones especially because it is highly difficult to get them out of 5 billion mobile phone devices today. It's hard to predict whether it's a billion or a billion and a half, because it is tipping on the number of users engaged on the web up to a higher level, and it becomes difficult to differentiate whether it is the same person or an additional person who could be using it for multiple purposes, also with an additional device. So his estimation is that it could be between one and two billion people engaged in the mobile, social, web, applications usage. Then he proceeds to break down the battle between operating systems lead smartphones such as Android and Apple and less market shared players such as Microsoft,  BlackBerry and Nokia trying to keeping up with the competition. So, his question is what could be done with so many apps, because the way the apps world is going as there are so many apps downloaded now, of Android and Apple, that they will be able to eventually give the pads, cellphones, tabs and smartphones away. Just for the purpose of making people pay for the app, and download. But people are kind of confused still and they are still skeptical of how to proceed with this social thing, and this mobile and local thing, and this has led to the whole new world of developers to emerge. He says that nobody knows what it's going to look like, but the developers will have to develop every app on Android or Apple at the very least, there will come a time when you will have to push your brand out through those platforms. He says that those platforms will have total control and that is a worrying and scary environment and to realize that most of people including Mr. Power will be dependent on those platforms. He says that these software are social transaction banking systems and it will make more people curious to get into this industry. He interprets that the future for this can't be predicted, but he says that it's got to be social, local and mobile combined. Who is going to win this competition, is it Google, Twitter, Amazon, Facebook? He 

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