Eric Friedman on the Evolution of Foursquare

Foursquare initially wanted people to check in so a database could be built of what is around, what is popular and what your friends like. The latest Foursquare is for the ios5 which places users on a so-called to do list where users are notified with activity updates. Merchants are currently requesting a way to generating money from Foursquare check-ins with a variety of lucrative offers but Foursquare insist they stay a free service at this time. They realized early on that competing in the marketplace was extremely costly, so they took the “software route”. They partnered with companies already possessing the business aspect and attracting customers and created a mutually beneficial relationship for all involved without making users learn a new skill.

What will govern the new Foursquare Radar push notifications?

Foursquare uses the information users have already given them based on the opt-ins users follow such as lists and friends. Enter in the Foursquare radar. Now, Foursquare additionally has data regarding time-based service. The radar can make a good guess as to where a user is likely to want to go at 9 am verses 9 pm. Thus if a user walks by a nightclub at 12 noon, the radar will know not to notify the user of that venue based on the time of day. This is currently being expanded into a full form of radar features incorporating issues such as weather conditions at a given place, at a given time.

Introducing the New “Merchant Offers”

Foursquare offers deals for merchants to place and notify users of. These offers will now, more than ever, essentially reward users with a built-in loyalty program for frequent check-ins. Additionally, merchants are given analytics of their usage with Foursquare merchant offers to best select the deals to run for a particular location, day of week and time of day. Analytics through the new Radar system will enable better deals and better sales figures.

Current Issues

Information overload is a constant with everyone today, especially those with iPhones or those who work in the technology sector. Foursquare wants to keep this information relevant to the users, including offers at places or purchase each user frequently visits.

Upcoming Channels

Many industries have potential to use Foursquare for their advantage, which the company hopes to use in the future. Large brands such as Costco and insurance companies are next on the list, however these companies do take longer to setup in this check-in processes.

Make sure to be on the look out (or sign-up with our newsletter ) for our exclusive 1 on 1 video interview segment with Eric Friedman, Business Development Director of Foursquare!