Foursquare Report

1. Kelsie Greenfield
Heather Fry
11/09/2014
Foursquare Report
About Foursquare
o 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 States
o Foursquare is a local search and discovery service app which provides a
personalized local search experience for its users
User Benefits
o 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 places
o Get your search results narrowed down to your tastes specifically instead of
generic, mass search results.
Monetization
o 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 Benefits
o 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

2. Marketing Risks
o Too many irrelevant ads/coupon offers
o To check-in, users now have to download an additional app which has irritated
some customers; Causing several to refuse to use it
o 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