Originally in beta to 800 businesses this past summer, Foursquare has launched advertising for all businesses and it's super simple. All you have to do is state your business needs and your monthly budget, then Foursquare will do the rest. Using the check-in data that Foursquare has on hand, Foursquare can then show relevant ads to users nearby who may be looking for a restaurant, bar or service.
We have talked before about how Foursquare can do wonders for your business, but now the tech giant has introduced something that can maximize your local online marketing potential - advertising. Instead of users telling Foursquare what businesses they want to check-in to, Foursquare can recommend businesses nearby that they should check out. When done right, you can draw customers away from local competition, promote specials and get people talking about your business online.
Here's a real world example. A man gets out of work, but he has some time to kill before he's meeting some friends for dinner across town. He wants to grab a quick drink, but he's looking for somewhere new to try out. If he goes on Foursquare search or even the Foursquare home screen, and Foursquare sees that this man is near your bar and has checked-in to bars in the past, your ad will show. If the man likes what he sees (a Foursquare check-in deal would do wonders here), he'll head to your bar, check in, and the rest is history. Like other ad services, Foursquare provides metrics such as number of views, action, action rate and cost per action so you can adjust your budget accordingly.
This service obviously benefits the food and drink industry, as well as tourist attractions. People are out and about and making plans on the fly, checking their phones for whatever is nearby to satisfy their wants. By tapping into Foursquare advertising, you can reach these potential customers that evaded you in the past and grow your local online presence as the check-ins roll in.