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Foursquare ROI?

Monday, July 12th, 2010

Up to this point, FourSquare has been considered fertile territory with which only big name retailers (Starbucks, Ben and Jerry’s, etc) have started to partner, mostly stemming from the need to need to ‘be first’ in leveraging with this new technology.

Many smaller-tiered brands are just now getting comfortable playing in the Facebook and Twitter platforms and haven’t established the same comfort level in tying into FourSquare – though the return might be greater. Whether it’s budget or merely the reluctance to take a risk with this new social media platform, all retailers are looking for security in investing marketing dollars into FourSquare.

Awareness, Inc. recently introduced a tool that could provide evidence of ROI opportunities. The site is Foursquare Perspectives and it allows venue owners (a brand’s bricks and mortar) to see how FourSquare users are interacting with their physical locations. Key stats include:

  • Total venues, total check-ins, total unique visitors, and total Mayors
  • Breakdown of venues based on number of check-ins
  • Top Mayors across venues
  • Top Visitors by unique visitors and total check-ins

I see great potential for retailers here. This tool encourages the interaction between brands and their Foursquare-using customers by giving metrics beyond simple check-ins. What was once foreign territory is now a space where retailers can identify connections to brand zealots and usage and traffic insights– all valuable tools in developing communication. Both local and national brands can uncover unseen opportunities and recognize underutilized areas in which they can play. For niche brands like Anthropologie, learning that there are 7,800+ check-ins and 108 mayorships across 168 of your brands’ venues makes it hard to ignore the opportunity to communicate and reward these loyal shoppers.

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