Signalfire: Interactive Marketing Solutions

Foursquare is a relatively recent (at least in the Midwest) addition to the social media world and is quickly gaining popularity. The question so many are asking is: what is Foursquare and how can it be used for business?

Foursquare is a combination of a game and a social media network that utilizes locations as venues in which points are awarded when you “check in” on mobile devices. Venues can be a restaurant, a store, or any other set location. While Foursquare has been address based, the system recently advanced to a pure GPS-based system for determining the venue’s location.

One of the most rapidly growing themes in social media is location-based interaction. Even though you may be in a crowded bar, you can immediately discover who in your network (friends) is there or see where they have checked in recently. Points are awarded for each check-in. Badges, or awards for frequent check-ins, adding new venues, or checking in with numerous people are given as the user gains points. Some cities or large events (CES in Las Vegas and the upcoming SXSW in Austin) even have custom badges for the savvy tech travelers.

Such games or networks have traditionally been viewed as purely recreational and not seen as having any business potential. However, like we’ve seen with many other aspects of social media, most anything can be used for smart business. In some of the more experienced Foursquare markets, we’ve seen the uprise of bars, restaurants and retail locations using Foursquare as a powerful networking and rewards tool. How? (more…)