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How Foursquare helps Consumers and Businesses

Since last quarter of  2009, we’ve seen companies like FourSquare and Gowalla – companies allowing customers to check into physical locations and earn badges or points, discounts and share/show nearby contacts where they are – gaining heavy traction (more than 1 million FourSquare checkin per week).

So why many thinks that 2010 will be dominated by one theme: location-based social networking companies.

Reasons to Leverage Location

  1. Immediacy. Location inherently breeds immediacy and action.  If a consumer is at a location, close to a location, or close to a contact, they’re more likely to purchase (if they’re there), travel to purchase (if they’re close), or meet up to share (close to a contact).  Immediacy enables actionable behavior, and actionable behavior is valuable because it provides measureable results.
  2. Measurable results. Using location and proximity to measure effects is easier than measuring what happens when eyeballs read a tweet.   Retailers can use the location-based technologies to further understand their consumers.  When consumers check into a location, data such as when consumers visit, how often they visit, and their behavior before and after they visit becomes valuable.  With added incentives from brick and mortar stores partnering with these technologies, it is valuable through the information they can receive.
  3. Laser pointer theory. Think of the world as your company’s target – with no map, you’ll fire all over the globe and hit a fraction of your targets.  This happens in business too- intentional or unintentional displaced messaging is the result of mis-firing and ill-placement.  With location, companies can laser pinpoint and succeed.  Misguided marketing and advertising no longer need to be the standard.  Marketing and advertising are sometimes described as an art.  In 2010, they become a science.

(source: Social Media 2010: The Year of Location)

And I think there’s a further two potentials likely to emerge. The first is for a wikifixing of venues and locations.

says David Cushman in his recent post.

The second is an extraordinary potential to redraw the WHOLE map niche by niche (by each niche and for each niche) wresting control from the centre to the edge. It’s our world, we should map it.

So how Foursquare can help consumers and businesses (by @christuff):

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