Kelsie GreenfieldHeather Fry11/09/2014

Foursquare Report

About Foursquareo Founded in March 11, 2009 by Dennis Crowley and Naveen Selvadurai

o As of 2014 there are nearly 45 million users

o Males and females are equally represented; 50% of users are outside the

United Stateso Foursquare is a local search and discovery service app which provides a

personalized local search experience for its users

User Benefitso Foursquare helps you discover the best food, night life, and entertainment

in your surrounding area.o Foursquare learns your tastes and preferences based off previous check-ins

and runs searches to find similar placeso Get your search results narrowed down to your tastes specifically instead

of generic, mass search results.

Monetizationo Foursquare now charges business a fee to be placed on their location

graphs and maps.o Foursquare is now providing ads based on relevant check-ins and is selling

post check-in ad units on a ‘cost per action’ basis which is if a user clicks on the ad for more info or checks-in to that place within 72 hours.

For example: If you check-in at a restaurant and there is a bath and body works nearby it might send you a 20% off ad through the app

Marketing Benefitso Companies can reward loyal customers with loyalty points.o Companies can use Foursquare to offer their loyal customers special offers

through check-ins o Users can easily locate you on the Foursquare map

o Easy way to get customer feedback and track the traffic

Marketing Riskso Too many irrelevant ads/coupon offerso To check-in, users now have to download an additional app which has irritated

some customers; Causing several to refuse to use ito Foursquare is more about finding something new or close by when traveling and

not so much for building a lasting customer relationship so it might not be worth the investment