I’ve been writing about FourSquare for business recently by promoting the potential benefits to businesses with customer foot traffic.
Now with their release of a Customer Dashboard for businesses, they’ve taken the concept of social location-based networking to a whole new level. A level that businesses need to understand as it will significantly impact their bottom lines (both negatively and positively).
(courtesy of the New York Times)
Why it’s important
Because I now have a very detailed customer dashboard about my customers and their networks. Let that sink in for a second. Never before has any consumer facing business so easily understood their customers and their social circles.
Businesses can now interact with their customers, offer them specials, get feedback from them and encourage them to invite their friends. For example, If a restaurant is light on reservations during the week, they can instantly kick off a promotion to invite their customers back.
With the FourSquare API, businesses can now discover where their customers are located and where they work. For instance, let’s say a lot of Qualcomm employees are spending money at your establishment. With the API and dashboard, you are now able to contact Qualcomm and set up special deals and promotions.
You didn’t have that level of detail before without expensive research. And that research was stagnate the day is was completed.
But now you do. How will you capitalize?
(Cross-posted @ Seek Omega )