The New York office recently ‘checked in’ with Foursquare to hear about some of the new product enhancements they have planned for brands and merchants interested in advertising on the platform.
Most of these features are added benefits to the Explore tab, and will provide users with new ways to interact with promoted content.
Great opportunity for merchants that want to talk to users, but may not have sales related promotions or specials
Updates can include photo, content/text, and is often linked to a social justification (e.g.: have your friends interacted with this brand/merchant?)
Promoted updates are served primarily based on location
Opportunity to link out to an offer or site
Promoted specials will appear at the top of the Specials section, and will be delineated as ‘promoted content’
Based on behaviors, promoted specials can be targeted depending on past check-ins
Opportunity to integrate a coupon/POS system scanning code (depending on merchant’s existing infrastructure
Promoted credit card offers
Merchants have seen average larger basket size, and a younger (yet affluent) demo as a result of this promotion
No employee training needed, all transactions take place on the credit card’s back end
Robust reporting available from AmEx/Foursquare for merchants that participate in the partnership
Foursquare is also considering working with merchant specific cards (e.g.: Banana Republic card, J. Crew card, etc.)
Some additional insights into the Foursquare algorithm. All offers and updates are served to the user based on the following criteria:
1. Physical location
2. Your previous checkins
3. Friends (checkins, etc.)
4. Specials (have you unlocked any near your location)
5. Time of day (can segment based on day part)
Though most of this isn’t exactly groundbreaking news, we thought it might be a useful overview for any brand looking to harness the power of Foursquare. See you in the swarm!
Ryan Duffy is a Senior Social Media Strategist in the New York office. Despite being a member of Foursquare since 2009, he has yet to actually earn mayorship of anywhere but his own house. Keep living the dream. In the meantime, you can follow him on Twitter @RyanJDuffy