Is Foursquare Worth Looking Into?

Inbound marketing: The sheer spectrum of possibilities for lead generation can be daunting. Do you know what it takes to tap into today’s top marketing channels? To help readers benchmark their knowledge and get on the right track, we asked industry experts what they saw as the seven most important questions about around inbound marketing today, and how marketers should answer them.

Is Foursquare worth looking into?

a. Businesses ignoring Foursquare do so at their peril.

b. Foursquare is a cute app for 20-somethings, but that’s about it.

c. Foursquare offers retailers unprecedented ways to connect with passersby.

d. Foursquare is another flash-in-the-pan on the decline.

Answer: c. Foursquare offers retailers unprecedented ways to connect with passersby.

If you’ve got a retail business, Foursquare can help you reach out to passersby with text coupons, loyalty coupons and similar promotions that digitally sniff out nearby Foursquare users through GPS, and then shoot promotions to their smartphones.

Originally just a cool way to meet people, Foursquare has quickly evolved into a powerful marketing tool. “One of the key goals for Foursquare in 2014 is to expand our advertising tools to additional markets worldwide,” says Steven Rosenblatt, Foursquare’s chief revenue officer.

Note, Foursquare recently broke into two services. The first generally offers reviews of businesses to passersby based on their GPS locations. The second service-Swarm-is a phone app people can use to meet up with friends and/or see which of their friends are closeby.

Marketers should monitor reviews on Foursquare, and then use Swarm to create flash mobs in their stores for special sales. Also, try tracking the most frequent visitors to your store and award them the status of “mayor,” and create other, similar crowd-building promotions.

Joe Dysart is an Internet speaker and business consultant based in New York. Reach him at (646) 233-4089, joe@joedysart.com or joedysart.com.

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