Foursquare the next big thing

Foursquare – The next Big thing?

Rakesh Menon

DMS, SOM,

Pondicherry University

• Foursquare is a location-based social networking website for mobile devices, such as smartphones

• Users "check in" at venues using a mobile website, text messaging or a device-specific application by selecting from a list of venues the application locates nearby

• Location is based on GPS hardware in the mobile device or network location provided by the application. Each check-in awards the user points and sometimes "badges"

Founders- Dennis Crowley Naveen Selvadurai

Product

• Mobile Application to check in and share information• Uses phone’s GPS• Features such as Mayorship, badges, scoring• Mobile social media

Price

• Product is free for users• Download free from various service providers• Recently started charging from merchants (Limited services)• Charge merchants $ 10 when they discover new places and

businesses in foursquare's explore feature

Promotion

• Mainly through Word of Mouth• Customer involvement through social media as a medium• Google SEO• Collaboration through phone companies (Blackberry)

Place

• All parts of the world• Major in America and Europe• Features based on geographic location

Target Customers

Travellers/Commuters

People who like offers and deals

Tech savvy/ social media active participants

Extrovert People

What makes it different?

• Gives a great combination of online and offline• It functions through GPS social media, which will be the

trend for the future• Unlike other location based apps, foursquare makes it fun

through interesting games, which can be customized by businesses

• Provides automated CRM data, such as knowing the habits of customers who make check ins through foursquare

• Has the rare combination of making it interesting for the customers, but also helps businesses through this process

• Has a huge potential in its business model

Thank you ( In Pondicherry)