Many business owners I come across see it as simply a fun check-in app, with not much more to it than a good way for friends to check out what they're friends are up to. But Foursquare is so much more than that, for consumers and businesses.
Foursquare let's consumers checking in at establishments leave tips about what's good, or even write small reviews about the service or atmosphere. And, trust me business owners, people are talking about your business on Foursquare, whether you're using it or not.
For business owners, Foursquare allows you to post incentives for people checking in and promoting your business, read reviews of your business, and locate repeat customers. Foursquare, by matter of conversation cultivation, creates a hub of talk about your business gives a consumer a ton of vital information they need to make a decision on whether or not to check out your place.
Because of this "conversation cultivation centered around your product or place," Foursquare allows businesses to find and grow a relationship with people that are ALREADY customers, and convert them into potential, and invaluable, "brand ambassadors or advocates."
But plenty of businesses skip over Foursquare, citing it's relative size of users (around 41 million, as compared to Facebook's 1.2 billion) and the lack of "interaction," compared to other social media, as reasons to avoid it.
But businesses using social media, but not yet attuned to Foursquare, should definitely be paying attention to Foursquare's newest app: Foursquare For Business.
The app allows business owners on Foursquare to share status updates and pictures to Foursquare and other social media (there's interaction for you), post customizable deals, and track real-time analytics of your business on Foursquare. Such as check-ins, tips, and reviews. Allowing you to better target loyal customers and tune your social media marketing strategy quickly, according to what your customers are demanding.
Essentially, Foursquare For Business allows business owners more options for interaction, stat tracking, and more freedom to build a successful marketing campaign around Foursquare.
To sum up my first day using it, the first word that comes to my mind is control. This app is the metaphorical "handing of the reins" of your business' Foursquare page from Foursquare to you, and the increased freedom of control and interaction should be something on a lot of business owner's minds when considering using the application.
Download it today, and let me know what you think of its functionality and what it could mean to your business' performance.