At SXSW Interactive,
Foursquare
founder Dennis Crowley and
Mashable
founder Pete Cashmore took the stage for an interview about the future and evolution of location-based social network Foursquare.
During the interview Crowley announced that the service was going to expand its venue API and is working to create a standard for venue identification numbers. Crowley also elaborated on the recent launch of Foursquare's 3.0 version. This new version, he said, is all about recommendations and resurfacing user data to help improve serendipity for users.
Creating Serendipitous Experiences
The new app adds an Explore tab which is Foursquare's first attempt at becoming a true recommendation engine. The addition of that feature throws Foursquare into the competitive land dominated by Yelp, Google and Facebook. In a year, Crowley stated, Foursquare should be a tool that knows what people like and recommends new things for them to do.
Crowley is working on partnerships and not looking to sell the 50-person company at this point. He explained that 250,000 businesses use Foursquare and the company will be charging businesses for some advanced marketing opportunities. While Crowley isn't planning on including ads in Foursquare, he did not completely rule out the possibility.
Prompting People to Be Proactive
Foursquare proactive notifications is something else Crowley would like to build. When a user walks by a coffee shop, for instance, they would receive a notification that a friend visits that shop often and recommends it. Foursquare would also be looking at new technologies like NFC that will help users checkin to locations more easily in the future.
Marketing Takeaway
Location-based marketing can be a valuable customer aquisition and retention tool for brick-and-mortar businesses. Many Web platforms will be competing to offer services bridging the gap between online and offline marketing efforts. With fewer than 8 million users, Foursquare is fighting an uphill battle against some of the Internet's most successful companies.
As a business with a retail location, you should claim your business on location-based networks like Foursquare and test out some of their marketing features to see if it impacts foot traffic into your business. After this type of testing, you can determine if a bigger time and monetary investment is needed. If you don't have a physical location, it is probably best to monitor the changing opportunities in the location-based marketing industry while investing time and resources into tactics that are currently a better fit for driving results for your business.
Do you like the direction Foursquare is going with version 3.0?
Inbound Marketing Blog Feed
Mike McCready 6:21 PM on March 15, 2011
I am just exploring location-based marketing tools like Foursquare, but I have to wonder if it a loosing battle against a tool like Facebook Places.
I would imagine that the adoption rate of Foursquare would be much slower than Facebook Places and as a business, I would want to invest my efforts in a tool that will have a faster up-take.
JASON ROSOFF 6:23 PM on March 15, 2011
Great Post! I wish I could have been there. Foursquare is right on point with their current direction. Social Media Marketing is running towards more Mobile linked with Location Based Services and they are on the forefront of that.
How do you think this direction with work with B2B companies?
Steven 6:25 PM on March 15, 2011
Should be interesting to see how startups like Geotoko survives with 4sq leading the way.
Tony Argyle 7:30 PM on March 15, 2011
I also wonder how they will go against the power of Facebook. The reminder that a friend has visited is a great tool however. The awareness of the likes of Places and Four Square is very low amongst Australasian retailers and it will be a rush to get involved when they finally catch on.
Joe Schwendt 11:08 PM on March 15, 2011
I couldn't be more excited about Foursquare 3.0. They added so many new opportunities for both end users (in terms of game play, social discovery and incentives) and businesses (tons of new ways to offer incentives and interact). They really get where this space is going. When Facebook announced Places, I'll admit that I was a bit worried about Foursquare. But the recent moves they've made show just how nimble they are. And at the end of the day, I use Foursquare totally different than I use Facebook. I like the fact that they are separate and I can choose when to share certain things with Facebook and Twitter. I'd highly recommend that businesses consider investigating Foursquare and give it a serious look. The most ingenious methods of interaction get lots of press...so it pays to be creative.
seosen 12:33 AM on March 16, 2011
I think blog comments are useful for both commentator and also blog owners
Ed Hammerton 7:54 AM on March 16, 2011
As a user I'm really pleased with the new UI on Foursquare and all the new features. I was on the verge of becoming bored with checking in - it was pretty much limited to winning badges. Now it's more multi-layered: you can check up on/ compete with friends, win badges and personal kudos points, recommend and leave tips, but also benefit from discounts. Essentially, they've merged review and voucher apps with a social game with a listings website. What's not to love? Facebook might be bigger, but it's not a game and it can't (yet) show me other people's recommendations.
RE: Facebook, I don't think Foursquare will lose out. Yes, Facebook has a colossal user-base but Foursquare has a committed core of users who already use the network as a LBSN (location-based-social-network). Now they've got something new to play with, I don't think they'll be leaving any time soon.
If you're worried about reaching a smaller audience on Foursquare, why not hook it up to Facebook places??
I'd be more concerned about Qype, Gowalla and Yell. Aside from the Yell's augmented reality tool, they're not offering anything Foursquare doesn't already.
Jerrick Yeoh 1:02 PM on March 16, 2011
foursquare become so famous right now once those android and iphone been use widely. You can saw foursquare post about your friend in certain place enjoy certain foods or entertainment with certain friends. And it will post out in facebook. This is kind of marketing as well. For the latest news that foursquare combine with american express which able to enjoy the discount purchase in certain shop by foursquare.
David 8:23 PM on March 17, 2011
I had the same LBS and LBA idea way back in 2007 and I even had a great domain for it http://Here.im.
Did have the time and the resource to kick it off. Anyone interested, ping me.
Jeff Kryger 4:07 PM on March 18, 2011
I see Foursquare being the main service with this key update, and it's user base. But I plan on making sure I have listings and specials on Google Places and Facebook Places as well.
Emily from Video Avatar 2:15 AM on March 25, 2011
I've heard about Foursquare from friends and I see it linked to Facebook, too. I think it's a nice tool to have an establishment be known to people but because it is still at its beginning stage the business aspect would have to go through a series of experiments first before people can really assess the impacts it can have to businessmen.