2010 was a big year for local online services, but it was especially big for Foursquare, a company whose service allows mobile users to “check-in” to locations using geo-targeting technology.   The young company (which launched in March of 2009) was considered social media fringe not too long ago. Having doubled its user base to six million in the last five months, it is now invading the mainstream.  Recognizing the inherent business potential of that reach, Foursquare recently launched Foursquare for Business in a bid to attract SMBs. 

So what is Foursquare for Business, and what can it do for you?  Foursquare for Business is divided into two categories: Venue Owners and Brands.  The latter is a way for brands to stay engaged with their followers no matter where they are in the world.  Since global reach doesn’t apply to most small businesses, we’ll focus on Venue Owners.

Venue Owners works like a loyalty program, encouraging your customers and other consumers to visit your location by offering incentives.  Naturally, a brick-and-mortar business is necessary for this social media tool to make sense.  The best kind of business for Foursquare is one that customers can frequent often, like a restaurant or clothing store.  If your business meets these criteria, these are the steps you need to follow to get started:

1.       Claim your venue: Log in to foursquare and find your business’s page.  Click on “claim your venue.”

2.       Create a special: After claiming your venue, you can start creating specials to get new customers and keep your loyal ones coming back.

3.       Tailor your campaigns to maximize your business: Use the data in Foursquare’s Venue Stats Dashboard to help you figure out what’s working, and get more people in your doors.

Here are some of the promotions you can run using Foursquare:

• Mayor: This is the most frequent visitor over the past 60 days.
• Frequency:  This is a special that can be redeemed every X number of visits.
• Count: This is a one-time frequency special.
• Custom: This allows you to make up whatever conditions you like surrounding a check-in or series of check-ins.
• Venue regulars: This encourages users to come back multiple times in a short period of time.
• Coupons:  offer the Mayor or others with high check-in frequency discounts or specials

Some of these approaches focus on loyalty while others focus on attracting new customers. But they all share one purpose: foot traffic.  If you want new, creative ways to get people inside your doors, you might want to take a closer look at Foursquare for Business.