Foursquare, Foursquare, Foursquare. I use you every day. I check in to you at work, when I get my coffee and lunch, at the gym and at the movies. Where are my rewards though? I’ve only received about 2-3 since I’ve joined over a year ago.
Well apparently I’m not the only one not finding it useful for deals, because according to the WSJ, Foursquare is having trouble making revenue through their merchant platform. Not enough merchants, not enough deals.
Their answer to bring in more revenue? Beginning today, look for Foursquare to begin remarketing daily coupon deals from sites like LivingSocial, Gilt Groupe, and AT&T. With a user base of 10 million, the audience is there. A deal with Groupon could be in the works, too.
This could be big and quite useful for Foursquare users. Think about all the data they have on everyone like me who’s been checking in everyday without converting on a mayorship or loyalty reward. This data could make for some highly targeted daily deal remarketing based on places of interest. According to Business Insider, the partnership will allow Foursquare to do just that – alert you of nearby venues that have deals. The user gets a deal, and Foursquare gets a cut. Win-win for everybody!
Hat tip to About Foursquare on the story.