The most common updates posted to one’s social network usually revolve around their own life and/or something they plan on doing. The hyper-usage and gross popularity of Facebook and Twitter also revolves around its users’ ability to write up to the second status updates. Foursquare has taken notice of Facebook and Twitter users’ slight narcissism and added features to make up-to-the-minute status updates easier, more compelling, rich, contextual, and locationally relevant. Below are some convincing reasons to latch onto Foursquare and the opportunities of this platform.

RELEVANCE.
The cornerstone of Foursquare is locational relevance, which is provided by using geolocation technology built into many modern cellphones. When a user is logged into Foursquare, businesses that are in the area and have a profile through Foursquare appear as the user enters their vicinity. By offering promotions to nearby users it substantially increases the relevance, and lowers the barriers to user participation, making them more likely to take advantage of the promotion, thus increasing your customer base.

COMPETITIVE ADVANTAGE.
Are any of your competitors in the neighborhood? Offer an incentive on Foursquare to entice users into your place of business rather than theirs. In addition to adding an incentive, Foursquare also allows users to leave comments and tips about a business. This feedback is yet another way to attract the user to your business, as word-of-mouth remains a very strong marketing tool. After all, people are most likely to listen to the people they’ve already chosen to listen to.

POTENTIAL.
Since the platform is still developing, there is an immense opportunity for growth. Foursquare has opened their API to developers, which increases the potential for new features, increased relevancy and usefulness.

REFERRALS.
When a user checks into a location they have the option to post to Facebook, Twitter, or both. Posting a ‘check in’ to your social networks will broadcast a recommendation to your social-sphere. Research shows that individuals are more likely to visit a place of business that was recommended by a friend, making Foursquare an excellent outlet for referrals.

Using Foursquare is cost effective and (in most cases) free. The potential reward for a business far outweighs the time and capital commitment necessary to get started and stay up-to-date. Our recommendation is to start using the application for personal use, recognize the potential and then register your business and discover the opportunity.