It also explores proximity and micro location strategies like geo tagging

It also explores proximity and micro location

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(Buczkowski, 2011). It also explores proximity and micro-location strategies like geo-tagging, augmented reality and other up-coming technologies (Buczkowski, 2011). There are four strategies of LBM that companies are already using grow their businesses. The first strategy is customer acquisition. LBM helps the company to gain customers in two ways. Firstly, LBM enables the company to reach out to more customers by offering special deals or discounts on their mobile devices (McCormick, 2017). In this case, if the customers are near the store, they can simply look at their mobile device and see what special offerings are available. They can choose to enter the store as a result of the specials being offered. This is a way to attract new customers who are already on the platform to come and visit the store. Secondly, LBM can drive customer acquisition through online deal databases. Eatigo, for example, was a primarily mobile application that enables customers to check into locations through their mobile device. It has a categorized listing of food choices such as fast food, western food, Japanese food etc. Besides that, it also shows the top 50 foods as well as special
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E-COMMERCE AND MOBILE COMMERCE 4 discounts and promotions that are available for different restaurants throughout that area. This allows the company to access customers who are browsing for deals online (McCormick, 2017). The second way of LBM can help the company grow their business is through driving repeat sales (McCormick, 2017). For example, the company can offer a deal where customers check in eight times and get a free reward such as dessert or drink. For instance, Smoothie King has used a similar customer punch card system for years. It has proven an effective strategy for driving repeat customer business. LBM also allows the company to make real-time deals which can be offered to any customer on their mobile device.
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