Foursquare launches “Promoted Updates”, let the money making begin

Foursquare Paid Search Ads have been rolled out and they’re calling “Promoted Updates”, this program is in Pilot and a select few companies can avail this and as we are speaking the spot must’ve filled.

Foursquare introduced the revamped Dashboard and the Page Management a few days ago along with the options to update Loyal Customers who are nearby, they’ve come up with Promoted Updates in conjunction with that.

These new updates will come in two forms: Promoted updates, such as Gap saying, “We have new yoga pants!” — and promoted specials, such as Walgreens saying, “Foursquare customers get 10 cents off of shampoo.”, says TechCrunch

Foursquare uses the same recommendation Engine as the Explore for Promoted updates to ensure that the end user actually find them to be worthwhile. 

For now, promoted updates are available only to the 20 or so companies participating in Foursquare’s pilot program. Those include big companies including Gap, Best Buy, Hilton, and Walgreens, and relatively small businesses such as Butter Lane and ‘wichcraft. All these companies are paying Foursquare on a “cost per action” model, not based on how many views, or impressions, their updates receive. Foursquare determines a user’s current location and check-in history before displaying a Promoted Update.

“This will evolve, and as it evolves, when we feel ready we can open it up.” is what Foursquare Chief Revenue Officer answers, when asked about when wil it be open for everyone.

Certainly a good move for a company who boasts more than 20 Million users this is the way to go

What do you think about the Promoted Updates?

The DNetWorks Team