Foursquare announced today that they will be adding Promoted Updates to the newly released Local Updates feature in the Foursquare app.
This algorithm-based approach appears to me as a never-been-done in local advertising.
The Promoted Updates feature rests squarely on the shoulders of Foursquare’s Explore local search algorithm.
With out getting into the weeds of what Explore is, it essentially matches businesses with users of the app based on the activity or history of a given Foursquare user and their friends.
Meaning that the Foursquare app can essentially match your deli to a nearby customer who is a deli fanatic, and you are offered premium placement via Promoted Updates.
Think of it as match.com for local business.
Why is this unique form of local advertising important to you?
Well, for starters, there are around 20,000,000 active users of the Foursquare app, and there’s a pretty good shot that you have some new customers in there somewhere.
The rollout of Promoted Updates is currently limited to a few national and local businesses for now, but Foursquare mentioned on their blog that they will be expanding this offering soon.
“We’ll keep making improvements, and look forward to offering the same tools to the nearly 1,000,000 businesses on foursquare today.”
Read more about the FREE Local Updates feature in Foursquare below.
“If you manage a place on foursquare, this will all be available to you later this week (for free!). We’ve also hit a pretty amazing milestone – there are nearly 1,000,000 businesses claimed on foursquare. Want to join them and get access to all the free tools to reach your loyal fans in our 20,000,000-strong community?” – Foursquare Blog