Logo for Foursquare (Photo credit: Wikipedia)
In June, Foursquare looks to launch a paid-media platform and is pitching brands to partner with them. The new product, allowing merchants to promote deals in a given area, will also show targeted ads when users search for local specials by using algorithms.
According to Ad Age, a source claimed Foursquare is working with marketers which it had past relationships with. Walgreens social media director, Adam Kmiec, said he has been briefed on the paid-media plans., as in the past his company has donated a flu shot for every store check-in, as well as a campaign where embed barcodes could be unlocked by checking in to a store and redeemed for savings. Kmiec said, “as Foursquare rolls out its new paid-media platform, we’ll certainly be giving serious thought to how it would fit into our commitment to bring social to a local level.”
Other past Foursquare partners include Pepsi, Dunkin’ Donuts, Whole Foods, RadioShack, American Express and Time Out NY. Foursquare said, “over 750,000 businesses use Foursquare to engage with their customers, and we’re continually improving our offerings to make the platform even more powerful for them.”
Own a local business?
[...] With their new advertising program, Foursquare will allow merchants to advertise alongside user check-ins. Retailers and restaurants can advertise deals and offers on their platform, which users will be able to view when they search local specials or recommendations. Although Foursquare has been working with marketers from large brands for a while, until now they have not been able to pin down a set advertising plan. They commented on the new plan, saying “Our goal is to build scalable self-service tools that enable businesses to draw in new customers and retain and reward their most loyal ones.” The growth of location based networking has been tremendous, and by advertising deals on Foursquare local businesses can draw in a greater amount of online consumers. [source] [source] [...]