In an attempt to remain relevant while still maintaining a steady source of revenue for itself, Foursquare has rolled out its self-service ad platforms for small businesses across the world. While this feature had been available for a limited amount of businesses around the world since April, it is now available on a massive scale, making it available to establishments around the world.“Here is a problem that all local business owners know: they want to get more customers, but tons of people walk by their storefront without coming in,” writes the Foursquare team in a blog post announcing this new feature. “We created Foursquare Ads to solve this problem. We can connect great local businesses with the people nearby that are most likely to become customers.”
Businesses will be able to keep a track of the money they spend
Like how most advertisements on social networking applications work, Foursquare will have a store’s ad appear on users' feed. They will be marked as promoted advertisements and can be targeted at users based on their location or a particular search term. For example, if you own a restaurant that serves seafood, you can have your establishment’s name appear when someone searches for eateries in the area or even searches for “seafood”. The ads will appear not just based on locations but a metric will decide whether or not the person is likely to become a customer. Any establishment can create a Foursquare ad on the web. With an image and hopefully an offer or two thrown in along with a customer tip, the ads can go live. A monthly budget will need to be set and they’re good to go.
The ads will be clearly demarcated
Foursquare will let merchants track how many people have seen the ad, how many have tapped on it and how many have come to the store. This will ensure that they know what exactly they’re paying for. It should be interesting to see how well Foursquare can push these ads to merchants. These ads could actually be helpful in seeing the footfall of stores increasing or decreasing and also check what offers work in stores.
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