The Business Power Of Location

There is an old saying: “Location, Location, Location.” It’s true, but now more than ever.

With the widespread adoption of not only the Internet but Social Media, location based services like Foursquare, Gowalla, SCVNGR and Facebook Places have taken hold as the latest and greatest way to drive business to your “brick and mortar store.”

Let’s use Foursquare as the example.

The basic premise of Foursquare is to check into places on your travels and rack up points. There is a leader-board, which adds competition element to checking in to locations.

Since its creation, Foursquare has been utilized by businesses as a way to help keep up customer loyalty and traffic up. Businesses can offer discounts ranging from a free slice of pizza if it’s your first time to a free drink at the bar to the mayor.

The Mayor? What Are You Talking About?

The mayor is another nifty invention within Foursquare. A mayor of a location is given to the person who checks in the most and consistently. The title of mayor is constantly changing as more and more people check in trying to get the perks of being a mayor. These perks are set by the establishment management (they don’t have to have incentives but it helps).

I Might Be A Nerd, But I Got A Free Slice Off Pizza

This weekend I checked into Jules Pizza an all organic pizza shop with all locally grown toppings and ingredients. My wife immediately called me a nerd for doing so. But when I was awarded a free slice of pizza since it was my first time there, she had to admit it has its perks.

Key Take Away

The moral of this tale is to be aware of the ever evolving space of Social Media. If you have a “Brick and Mortar” store and you’re not on Foursquare and all of the other location based services, you need to be. It will increase customer loyalty and it will give you metrics to track the popularity of different promotions you hold via the networks.

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