Foursquare and other location-based marketing tools alike must be shaking in their boots today, while they un-eagerly await the big boy (Facebook) on the playground that’s about to show up in the sandbox that is location-based marketing.
Although rumors have been circulating the industry since May, Facebook is holding a large meeting at their central headquarters later this afternoon to officially release their plan for their location-based marketing tool.
When looking at current location-based marketing tools Foursquare is leading the way with over one million users. Well, when Facebook releases their program, it will instantly be available to 500 million users. (Yes, your math is correct, that’s 500 times the leader in the industry) With their whopping amount of users, it’s almost hard for anyone else to even compete.
So the question remains, will Foursquare and other location-based marketing tools become extinct upon the release of Facebook’s version? That is a question that can only be answered upon the release and evaluation of Facebook’s new tool. (usability, gratification, convenience, etc…)
One thing is for sure, this can be a great opportunity for local businesses to promote their company across the huge user-base that is Facebook, and directly offer discounts, information, and specials to them. Oh yea, don’t forget about nationwide companies getting in the mix, as McDonalds is in the talks as one of the first companies signing a contract with Facebook for the new location-based marketing tool.
Stay tuned for the soon-to-be-released details and specifics of Facebook’s 500 million user strong location-based marketing tool!
