In 2011 social media is all about location, location, location. Amorphous social networks are getting more defined by paying more attention to location – of users and of businesses.
There is no better illustration of location-fused media than Foursquare, which recently counted its 40 millionth checkin. Foursquare’s growth rate is accelerating: Five weeks ago, the company announced that the total number of checkins had reached 22 million. In short: Foursquare appears to have doubled its checkin rate in just over a month. Foursquare has hit the million user mark.
So what is Foursquare? In a nutshell: users register an account and check in using their mobile devices at locations where they are. Mission locations (‘venues”) are easily added. Users get recognitions from the site for various activities and can even be named “mayor” of places they visit often.
Owners can claim their venues and run marketing promotions like offering a discount to every 5th check in. Business owners can also see who checks in – exactly who their customers are.
Bottom line – marketers get a more refined look at actual customers. Neat.