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!

You’ve probably all heard the latest buzz on Foursquare, the location-based marketing game that has recently been blowing up the headlines.  With over 1.4 million registered users, Foursquare is a mobile application and website that allows you to check in on your phone where you are currently located and announce it to friends and share on sites like Facebook and Twitter. Foursquare also allows businesses to award those who check in frequently with discounts and incentives.

This week, Loopt, the first of the location-based marketing applications, with over 3.4 million registered users, announced a new mobile app, LooptStar, that will compete more heavily with Foursquare and Gowalla, but with more of a loyalty program incentive. Gone are the days of those little punch hole cards that I always seem to lose in my purse! Welcome are the days where your loyalty cards are right on your phone!

So what is the difference between LooptStar and Foursquare? The main difference that I like best is that it uses Facebook Connect instead of creating a brand new social networking site. This way, users don’t have to have multiple networking sites and portals for checking in and receiving discounts. For me personally, one social network (Facebook) is enough!!

Second, it’s main focus is on rewarding customers for their loyalty to their business. Big brands like the Gap and Burger King are partnering with LooptStar to start offering incentives for frequent check-ins at stores.  These stores can then use the data collected through the app to personalize their incentives and customize them to the user – therefore encouraging more return visits to the store, and ultimately more money spent! Using Facebook Connect also allows the sharing of these incentives as well as your whereabouts to your friends.
read the full story...

When you think of foursquare, the first thing that might come to mind is a game you played at recess when you were in elementary school. Well, times are changing, and the next time you hear someone talking about foursquare, they’re probably talking about the ever-growing location-based social media tool.

How it works for users:

Foursquare is a social media tool that allows people to post their location from GPS based smart phones, or via text from a regular cell phone. This is called “checking in,” and the more you check in, the more “rewards” you can earn. There are two different types of rewards: badges and mayor-ships.

There are many different ways you can earn a badge on foursquare, but it will always involve checking in. One example of this is the “explorer” badge, which you earn after checking into 25 different locations. Foursquare also has badges that are location and event specific. Recently, they teamed up with SXSW (South by Southwest), a 9 day music, film, and interactive event in Austin, TX to create a cornucopia of badges a user could earn while “exploring” the event.  To earn mayor-ship of a location, you must have the most check-ins at a specific location in the past 60 days. Once you’ve achieved this, you become the undisputed mayor of that location…that is, until someone else frequents that venue more than you and steals the crown.

How it works for businesses:

Foursquare is a great way to get people to visit your business, post about their experience, and create an interactive community. Foursquare works well for places like restaurants, coffee shops, retail stores, bars/clubs, gyms, hair salons, and other venues that people visit regularly.
read the full story...