Is Foursquare a new phenomenon of social media?

Everyone seems to be talking about “Foursquare”, but you may be asking – what exactly is Foursquare?

Launched in April 2009, Foursquare is a website, a social networking media software application, and a kind of game.  It’s a combination of micro-blogging (eg Twitter), and GPS geocaching (eg finding places).

It initially started in the US, just like Facebook, and since early 2010 Foursquare has gone worldwide.  It is easy to sign up a profile on the www.foursquare.com website, and you can even use your Facebook and Twitter profile.

The aim of Foursquare is really to link into your mobile phone, using an application (Foursquare currently supports iPhone, Android, webOS and BlackBerry).  With this application you can update your realtime location, and write a short review based on where you are or which business you are in.  This is helpful since you can share any good or bad experiences you have in restaurants, or venues and events, or doing touristic things, or even riding a bus.

This information is then shared within your Foursquare network, and not necessarily made “public” or broadcast to the world.  Your location is only shared amongst your friends.  You can even add “Tips” on locations to your profile.

So, you have a profile on your website, and if you cannot have the application on your mobile, you can use Foursquare using text messages.  But how is this related to a  game?

Foursquare has a point system, where you can obtain Badges on your profile, and if you visit one place enough times you can even be crowned the mayor.  There are badges for total number of check-ins, for checking in to the same place many times, or for checking-in to many places in a single night, etc…  For the latest badges please visit: list of foursquare badges.

You can view a scoreboard of your friends points as well, so you can compete.

So from a marketing point of view, what does this mean for marketeers and small business?

Does it need to be considered as part of the Online Marketing Strategy?  Obviously in the US, this is much more of a consideration at the moment.  Although Foursquare could continue to grow worldwide fairly quickly, if you compare to worldwide growth of other social media such as Twitter, Facebook and Linked IN.

For starters, Starbucks is onboard in the US, offering free drinks to mayors.  The application is already tied in and linked up with Facebook and Twitter.  And additional software like Tweetdeck has already added Foursquare integration as well.  In February 2010, the company entered into new commercial partnerships with Zagat, Bravo, Conde Nast, The New York Times and several other organisations to offer tips, specials and new badges to followers.

For businesses, especially hospitality or retail businesses, Foursquare could have a big impact as people write reviews and share amongst their friends their good or bad experience.  Also to attract return customers the idea of offering return incentives and rewards to consumers who become Mayors of Foursquare could also hold big business benefits.

But for the meantime, to marketeers and small business who embrace this kind of technology and stay ahead of online marketing and social media innovations, this could prove to be beneficial and perhaps more engaging than other networking media like Facebook.

Time ……. and users will tell.  But marketeers need to keep this trend, and others in mind.

What do you think of Foursquare?  Feel free to comment below: