Nuvota

Everyone knows that Facebook and Twitter are the kings of social media, but the Big Duo might soon have to make room on the throne for a third social media monarch—Foursquare. Used by more than 1.5 million people worldwide so far, Foursquare uses geolocation technology to enable customers to share their favorite locations with friends, find interesting things to do in a particular area, find local store specials, and earn rewards for using the program.

How It Works

Foursquare is a mobile phone app that allows users to network with friends with the goal of broadcasting locations and keeping a record of favorite venues. When a user checks in from a given location with Foursquare, the program will add that location to his history and let his friends know where he is at the time. The user who checks in to a given venue the most times over a 60 day period earns a “mayorship.” Users can also earn badges for visiting certain venues. The badges will then be displayed on their profiles for friends to see.

One of the greatest user benefits Foursquare offers is the ability to view tips left by friends about a given venue. For instance, if a restaurant offers a house special that’s not on the menu, users can leave a tip to let their friends know. Businesses can also leave tips letting Foursquare users know about specials and promotions.

How It Can Help Your Business

Foursquare offers business partnerships that allow companies to promote their brands on the app. Partnerships enable businesses to post tips for customers, offer specials for frequent visitors or to venue “mayors,” and broadcast content to location specific audiences. Starbucks, for instance, offers rewards for checking in at five different Starbucks locations and the Wall Street Journal offers badges for checking in at certain locations in New York City.

As more and more people discover and use Foursquare, businesses will see a greater number of users checking in at specific venues and sharing their favorite spots with their network of friends. Cashing in on this new marketing audience will mean offering incentives for checking in and visiting often, rewarding users for sharing with friends, and offering specials that entice new visitors to check out the venue.

While it remains to be seen whether Foursquare will reach social media giant status or not, many big name companies are betting on the use of geolocation technology to promote a brand. Chances are, geolocation will become a marketing venue to be reckoned with, no matter which provider ends up on top. Businesses looking to embrace social media marketing should consider adding Foursquare to their plan now in order to reap big benefits as the number of users mushrooms.