Marketers are a buzz over the potential mobile marketing offers. Experts predict that almost half of US mobile phone users will have a smart phone by the end of 2011, so interest in marketing to mobile users has reached a tipping point.

Social media marketing appears to be the “low hanging fruit” in mobile marketing. According to Simon Salt, author of Social Location Marketing, it is defined as marketing based on location sharing applications like Foursquare, GoWalla, Facebook Places, and Yelp. These applications let members of a user’s social network know where they are and what they are doing at that location. The user “checks in” via the application on their smart phone.

What are some social marketing techniques that businesses can use to leverage mobile applications and social networks?

Coupons

Many retail establishments now offer discounts when someone nearby checks in on Foursquare. Think how much more effective a coupon is when it is delivered to prospects near the actual store, vs. left in the Sunday newspaper. Coupons range from a free coffee drink at a fast food establishment to a free appetizer at a restaurant.

Sweepstakes

There are free sweepstakes, such as a “7-Eleven Check-In to Space,” which offered a chance to win tickets to the Super 8 movie, a free zero gravity experience, and a sub-orbital flight. Just like off line contests, social media contests must adhere to sweepstakes rules and regulations.

Mayor Reward

Repeat business is generated when members of social networks to compete for the title of Mayor of a locale, a title Foursquare gives to the person who most frequently checks in to a location. Places provide incentives to the mayor, such free sub sandwich for the mayor.

Trips

The Gowalla application has a trips function which works something like a scavenger hunt. People can pursue a “trip”, which is a series of locations a related to a theme. By using the smart phone to check in at each location, participants complete the trip. Examples of trip applications are as follows:

Education-visitors to a venue can check-in to various places to add interest to their visit, such as the Fort Worth Zoo Safari, which serves as a personal guided tour. The application shares interesting facts about each exhibit, while visitors contribute to the content by sharing pictures of the jaguars, tigers, and elephants.

Sponsor Reward-The Social Media Club of Dallas offered a thank you tour for its sponsors that offered members prizes for completing a trip by checking in to its various sponsor locations. This served to encourage sponsor patronage.

Enhancing Membership-Chamber of Commerce organizations can create new member trips, demonstrating value in the membership by encouraging existing member to patronize their respective businesses through completion of a trip.

In conclusion, there are a variety of promotions and discounts already being used by businesses and organizations to generate trial, build repeat business, enrich the experience, and add value to the membership.

There is much discussion about how effective these new social location marketing activities are. However, history has demonstrated that businesses that enter a new marketing channel can reap disproportionate response rates while the field remains uncrowded.

Ready, set, check in!

One of the toughest challenges of marketing is connecting the creative process to techniques that maximize the promotional results. Most smart, passionate small business owners know their businesses better than anyone, but they lack the specific knowledge to channel that energy into marketing success.

The Internet and Web 2.0 are bringing these savvy entrepreneurs all of the tools to execute a world-class marketing plan. Unfortunately, there is still that missing piece–knowledge.

Old school marketing firms and ad agencies are trapped in business models sustained by big retainers, long-term contracts, and little accountability. This is a recipe for good money chasing bad execution, in an economy that can’t afford it.

In contrast there are some emerging options, provided by more innovative marketing firms. Leveraging Internet tools, social marketing, and new mobile techniques these new marketing firms are specializing in strategy and expertise, leaving execution to their clients.

Here are a few hints to save you money and squeeze the most out of your marketing spend:

1. Find Experience

Look for firms with talent and proven experience. Survey their impact on the Internet. Ask associates for referrals and references. An effective Internet marketing firm should be easy to find.

2. Pay for Expertise, Not Execution

Chance are you are heavy on smart people, while light on marketing expertise and budget. So, find a marketing partner that will work with you to balance that mix. Look for specific how-to advice and guided strategy. Then do the heavy lifting yourself.

3. Look for A La Carte Services

Don’t pay for the whole marketing department when you just need a few targeted services. Look for coaching and expertise in copywriting, press releases, and campaign management, not managing your message or “communications.” You probably have better knowledge of your target market any way–and how to get their attention. Ask (and pay) for only what you need to get it done, and nothing more.

4. Discard Retainers for Pay-As-You-Go

Retainers are for multi-national, Fortune 50 companies. Pay only on performance, as you go. This more closely aligns a marketing partner with your goals and objectives, while minimizing your long-term risks.

5. Results are the Final Measure

Bottom-line sales and revenue producing results are the most important objectives of any business, but particularly a small or medium-sized business. This is why you may find great marketing firms willing to let you employee their expertise, while giving you the responsibility and savings for implementation and measurement. This assures that their services are credible and drives immediate value.

Find do-it-yourself marketing options for your next ad or marketing campaign. Hire expertise and retain execution and measurement. You get to lead the marketing charge, giving you more for you marketing dollar.