When you hear the word foursquare what do you think of?
Foursquare was a game that you played at recess with a ball, now what is it?
Why and how is it becoming so well popular? And how is it beneficial?
Lets start with what foursquare means now. Watch the clip below,
which does a great job informing you on the app.
Apple says, “Join
the 15 million people who use foursquare to explore the world around them! Keep
up with friends, discover what’s nearby, and save money at places you love.”
What a great idea, right? Companies are able to advertise by
“word of apps” through the people who download the foursquare app on their
phone. The people who download the app do it because they are able to get deals
and coupons for the companies that are apart of the foursquare circle. The
combination of coupons and being able to use GPS to pin point someone’s
location is an effective one.
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| http://www.techinasia.com/foursquare-marketing-tips/ |
In 2010 alone foursquare had 6 million users, grew 3400% and had
381,576,300 individual users check-ins. Foursquare is still growing and making
changes to the application to better suite their users. One of the new
developments that recently came out is a “Foursquare for Business” page. Their
goal is to make the site easier to navigate and also easier to create a new
account.
So this application is off to a great start but one may
wonder how money is made with this app.
According to executive editor of Inc.com, Christine Lagorio, there are 3 main ways to earn money on foursquare:
1.) Love your Mayor and Encourage Loyalty- A mayor status is awarded to the person with the most single day check-ins
within a 60 day period at one specific venue. This feature is driving people
to be loyal to venues because it is common for the person with the mayor status
to receive deals on the product of the place they are mayor of.
2.) Attract New
Customer- Foursquare has many coupons, giveaways and one time offers
for many venues. There also is a feature called 'specials nearby' where your
phone uses your location to show you coupons, giveaways and one time offers to
venues that are in close proximity of where you are currently. That draws
people to your venue even if they were not planning on going there originally,
which then leads to new customers and then possibly new loyal customers.
3. Market your
Brand in a Fresh Way- Foursquare does not allow advertisements, but non-retail or industry-service companies are still able to utilize foursquare. Pepsi,
for example, partnered with foursquare this past December to promote its “Refresh Everything” community-giving campaign. Every time someone in New York
City earned a point on foursquare, Pepsi donated four cents to an inner-city
youth camp. In one week Pepsi donated almost $10,000.
Advertising is getting quite creative in their tactics. I
wonder what they will come up with next.
But in the mean time… want to play a game of foursquare?
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