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Thursday, 1 July 2010

Four Square And Ten

Foursquare is something of a phenomenon in the States.  It is based on the idea of getting people to sign up, explore their own neighbourhoods and then reward them for their efforts.

Activity is recorded in real time on the Four Square site. The explanatory video is below and the beauty of the the idea is that marries the increasing use of mobile devices to customer loyalty.

Businesses are encouraged to produce 'specials'. These range from special deals for the 'Mayor', your single most loyal customer, to check in, frequency and what they term 'wild card specials'. Point of sale decals are provided for download.

So does this work?  A survey conducted in May amongst 127 non-chain businesses in the USA suggests that most businesses didn't get to learn about Four Square from customers; they heard about it from friends and colleagues.

Source: MattSiltala, DreamSystemsMedia

The crunch is that only 10% of those surveyed would be prepared to pay for the Four Square service which makes it doubtful that the site's business model is sustainable?

Certainly as this chart demonstrates the sites reach is growing rapidly.

Screen shot example - Singapore
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1 comment:

The Digital Consultant said...

"Forrester recommends that bold, male-targeted marketers start testing but that most marketers should wait until they can get a bigger bang for their buck, when adoption rates increase and established players emerge from the fray."

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