Four Square Followers

Value of Four Square

The Value of Foursquare.com and Their Social Network For Your Business

Value is defined as "equivalent worth or return in money, materials or time." Today, business owners are looking for true value for their marketing efforts.  Owners long for quick, innovative, inexpensive opportunities to connect with potential clients and convert them into loyal customers.  True value for a small business is the exchange of promotional resources for an increased income.  

As part of a business, you face challenging decisions every day.  Where should you spend your time and money?  Does any of this "social media" stuff actually work?  People today are being bombarded with numerous "social media" options and told stories of how businesses enjoy massive successes because of their social networking activity.  So, is any of it true?  Should you even bother?

The term social media is continually changing but is usually described as "internet based applications that allow for the creation and exchange of user based materials."  This could be an ongoing diary, such as Facebook or micro-blogging like Twitter.  It could also be location based software, like Foursquare.com

Foursquare.com has a simple goal.  Combine social media with location based offers.  Basically, a tool to communicate offers to potential customers in your area.  And hopefully these are so great that they cannot wait to share it with others.  

So, as a small business owner, how can you use Foursquare.com as a valuable tool?  How can you generate new leads and additional transactions?  Will it be worth your time?  Let's take a look and find out.

The History:

Foursquare.com was created in 2009 and to date has over 10 million users.  Approximately 3 million of those users check in with the Foursquare app daily either by mobile, iPad or computer.   Foursquare is a location based application that uses a client’s location to share with them relevant, user based content regarding businesses in the area around them.

In addition, to Foursquare.com's basic location function, it has added a unique system of points and achievements to encourage people to interact regularly.  Users gain points for checking in each day.  They earn additional points for showing up at specific businesses or locations on a regular basis.  Where they are and where they are planning to go is shared with their friends and updated in real time.

Business Opportunities:

Foursquare offers a free set of online tools to all business owners.  These allow you to connect your business with the Foursquare community by becoming an approved "venue."   As an approved venue the owner or manager may post daily or weekly specials for the Foursquare community.   The goal is to "push" the customer forward into taking action.  

Coffee House Example:

Buy 1 Coffee and Get a Free Scone (day of purchase only - $2 value)

Dry Cleaners Example:

1 Shirt Dry Cleaned Free With Every 5 Shirts Ordered.  (Foursquare can be used as a virtual punch card)

Museum:

Visit our Museum and get a free Backstage Mystery Tour (just ask us- for Foursquare users only)

Foursquare recommends that venue owners run two offers at a time.  This enables the business owners a chance to reach a diverse audience and find something that connects with them.  Tracking is key when using this type of promotional activity.  As an approved venue you will be given a membership sticker for your window and your specials will be added to the overall application.  Making sure your staff tracks customers and sales generated by Foursquare is the key to finding which campaigns work best in your area.

The advantages to working with Foursquare are numerous.  First of all it’s FREE!  There are no costs associated with listing your business as a venue or with posting your rotating specials.  These free promotions are available to over 10 million users, though it will only target those who are currently close to your actual location.  

Another advantage to using Foursquare is it’s easy to use interface.  Simply login from your computer and check how many people have come to your location, who your most frequent visitors are, what time to people usually come in and if they sharing it with their friends on Facebook and Twitter.

The Benefits equal True Value:

Case studies show a variety of ways Foursquare.com can add value to your business.  In one study a pet food company decided to use Foursquare to promote their shop.  For each user that came to visit (and brought their dog) a sample of food was given to the dog for immediate consumption.  In just 10 days the pet company sold 28% more food.  Annual sales increased 14% and it opened up huge new opportunities for dog food placement in local stores.

Foursquare technology has a strong appeal to those 20 and under.  In fact, over 40% of teenagers use location based applications every day.  If your business has a youth appeal, your clients will consider your Foursquare venue valuable.  

What to Do In 5 Steps:

1. Sign up and create your official venue at https://foursquare.com/business/merchants

2. Connect your logo and overall brand look and feel with your specials page.

3. Create a series of offers that harness and engage users.  Get them involved, get creative and be sure to give them incentives.

4. Create value for others.  Take time to add tips about special locations in your city.  Each tip can be branded reminding customers that wherever they are right now, they can still come by your business and "check in."  This concept builds a loyal fan base and creates lifetime clients.

5. Design a loyalty campaign.  (Don't worry, Foursquare will show you how.)

Once you have followed these five steps, begin to track and monitor your success.  It is important to test, test and test.  Try new ideas and campaigns.  Ask people what brought them in.  If your "new traffic" isn't buying, ask them what would make them buy.  Social media is about sharing so don't be afraid to ask for feedback.  

Ask your new traffic to share your venue with their friends.  Invite them to Tweet and Facebook your location and offer them an incentive to do just that.  Value equals "equivelent worth in money, materials or time."  You don't have to spend any money on your new found visitors but be sure to give them your time.  They will feel valued and it could be responsible for increasing your bottom line.