Blogging today and I came across an article about the FourSquare Economy. http://www.conversationalcurrency.com/7665/the-foursquare-economy/

They stated that they believe foursquare lacks something…

Here is what they do not have (yet): Currency

I admit that foursquare and similar mobile-local-geo-map-apps are cutting innovation and hold great value. Not sure I would go as far as it’s own economy in need of a currency.

True, American Express has their Rewards Economy. Southwest has their frequent flyer economy of scale. But who is going to manage, control, and place a value on a FourSquare Dollar? Further, would adding a currency to FourSquare de-value it? I know how do you de-value something that doesn’t have a currency…

But part of the value foursquare offers is that it is a free economy where the audience gives feedback for free, and companies can reward their star consumers, for free. Would the foursquare economy collapse if the governing body restricted this free trade of goods between consumers and businesses by adding a currency or taxation?

The value of foursquare varies by the business owner. Foursquare governs this mobile-local-geo-map-apps-population. Foursquare would then need to tax either it’s users or the businesses. Taxing the FourSquare Citizens is not a good idea. Putting a business tax in play to do business in your mobile-local-geo-map-apps-community may work. Taxation with representation? The business benefit must have value in order for businesses to willingly submit to paying the FourSquare Government.

FourSquare’s current currency is points that expire at the end of each week. None renewable. None transferable. And just a little bit of None-sense. The points are only good for bragging rights. But those bragging rights are lost on most because most don’t wear FourSquare Badges like Boy Scout Patches… although you can buy them online here and show your true nerdiness-est.

Gowalla, on the other hand, uses tradeable items. Prairie Dogs, Boots, hats… You can drop and pick up items as you travel. Does that make their currency more valuable?

I use to be a wedding photographer in Phoenix, AZ. I still love photography. But you do loose a little bit of the fun when you are shooting for pay. So not sure if I admit with adding a currency to Foursquare.

The value that FourSquare holds will be exploited and used by gold diggers.

Thanks for joining the conversation!… meaning please add your comments.

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The rest is here:
Foursquare: The value of mobile-local-geo-map-apps

Businesses can now track their customers on FourSquare!  The press is out and many are feeling that this is both freaky and cool.  If you don’t like it, then your free not to use it.  But none the less the information is there and could prove useful to those that pick the tool up and know how to use it!

Image provided by the New York Times http://bits.blogs.nytimes.com/2010/03/09/foursquare-introduces-new-tools-for-businesses/

Who needs mystery shoppers when you’ve got real shoppers?

I think it would prove very useful for certain types of businesses. If I were a retail store, a restaurant, or any other establishment that had foot traffic then I would be all over it! This would give you one more way to engage your consumer, and to track your consumer’s experiences with your location. J.D. Powers still put it the best, “Every good company listens to its consumers.”  So start listening!

Listen and Engage your customers!

Individuals that use foursquare are aware that they are publicly announcing who they are and where they have been.  For the crowd that says the business is stalking, I say the business is LISTENING.  Further, these individuals probably want to be heard.  If they don’t then they may have a rude awakening when you start to engage them, but better that you tell them.  I for one appreciate the individual that is willing to step out of his comfort zone and tell me that I have broccoli in my teeth.  Awkward? Yes.  But it’s open honest communication that two adults should be okay with.  Just my opinion.

But then again I’m a pest control guy… and no one really comes to visit our offices.  =)

How can you use Foursquare in your business?

Please add your comments! Thanks.

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Your local Sapulpa exterminators that are highly recommended on Google. Get scheduled for a Sapulpa pest control treatment today!

Visit our Tulsa Pest Control site:
Foursquare Adds Business Analytics