A few months ago, Foursquare introduced new self-serve ads for small businesses that wanted to connect to potential customers nearby. The ad platform was only initially available to a small selection of SMB owners, but now the local discovery engine and reviews aggregator has opened it up for all small businesses around the world.
The new Foursquare ads for business are designed to display ad messages to potential customers (Foursquare users) who are nearby. Advertisers don’t pay for the ad when it shows up; they only pay when people act on the ad (when they check into the business’ Foursquare venue page, for example).
(Check out: “Foursquare for Business: Six Sweet Tips for Biz Owners”)
“We’re moving past the days when business owners have to figure out if a ‘like’ or a ‘click’ has any meaning in the real world; now they can tell if someone who saw their ad actually walks into their store,” stated Foursquare in a company blog post. “We built this to be simple and flexible, learning from our four years of data and relationships with over 1.5 million claimed businesses.”
If your business is on Foursquare and you’re already managing your reviews on the site, the ads serve as a great way to increase engagement with existing and potential customers. There is no contractual commitment (you can quit at any point), only a monthly spend requirement of $50. You can create a Foursquare ad by choosing a photo and offering a special or highlighting a tip. You then set your monthly budget before pushing the ad live for nearby Foursquare users to see. You’ll also have access to a system so you can monitor the performance of your ads: total number of taps, check-ins, budget status, and other metrics.
For more, visit http://business.foursquare.com/ads.