Foursquare is an app whose users share their experiences regarding venues they have visited or get personalised advice on where to go based on their location. The popular app recently declared that it has launched self-serve ads on Tuesday, July 23rd. This brand new service has been made available to “a few thousand local businesses,” from Tuesday onwards. However, this was not the first ad service that Foursquare has launched this year and a month ago the company introduced post-checkin-ads. On this occasion the company also made it known that new ads uses “the same algorithm that powers [its] Explore recommendation engine.”
With these ads businesses can now appear in the search results if a user is searching anything close to them. However, the most interesting thing about the self-serve ads from Foursquare is that businesses will only pay the company under one condition, “when people visit (in person, or the listing on Foursquare).”
For further information see the official announcement by Foursquare in which the company has described about the new self-serve ads in detail:
“Foursquare is the app that helps people make the most of where they are and where they’re going, and a big part of that is helping them discover great local businesses. For years, we’ve offered a suite of free tools to help those businesses find new customers and connect with people nearby. Today, we’re offering a new way to find great customers – self-serve Foursquare Ads for small businesses.
The idea behind these new ads is simple – connect people looking for somewhere to go with businesses that want to drive traffic to their stores. Foursquare is the best way for those businesses to reach nearby customers. In our ad pilots over the past year, we’ve been honing our targeting technology, using the same algorithm that powers our Explore recommendation engine.
Our new self-serve tools mean that we can help more people connect with the over 1.4 million small businesses around the world that are using Foursquare. And, best of all, businesses only pay when people visit (in person, or the listing on Foursquare).
We’re rolling this out to a few thousand local businesses today, and we’ll be opening it up to more in the coming months. Get on the list to be one of the first businesses to try it out. Have a small business but haven’t claimed it yet? Get started now.”
Source: TNW, FoursquareBlog
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