Ben Wise on Branding

Watching the world through the lens of the brand

Posts Tagged ‘geo-location

How The Rise Of Foursquare Will Benefit Every Other Brand

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I recently read an article on the great blog Mark Evans Tech, about why he is passing on the Foursquare craze. Despite all of the media hype the service has received, I am with Mark and won’t be signing up anytime soon. Despite that, I do think that the rise of Foursquare has much greater implications for branding that will become evident in the next few years.

The significance of Foursquare certainly has to do with online and mobile gaming for the masses, but it also shows a trend in consumers who are increasingly willing to share information about their location. This is where the opportunity really lies for brands who want to reach their consumers at the right time and at the right place. If I were to receive a text message from the Gap giving me a $10 coupon while I was walking through a mall, I would at least go into their store.

This technology has been around for a couple of years, but has been held back by consumers who do not want to share that information with brands. Clearly, there is a big step between telling your friends you are at a local coffee shop and telling a brand that you are out shopping and it will still take some time for consumer behavior to evolve to the point where they are willing to share this information (not to mention the effort it will take brands to prove to consumers that they can be trusted with this information). But the trend is unmistakably moving in that direction.

Is all the hype that Foursquare is receiving warranted from a business point of view? Probably not. Will they be a profitable company down the road? Maybe, but nothing too significant. The real changes will be when any brand can make use of mobile geo-location to connect to their users.

What do you think? Would you share your location with your favorite brands?

Written by benwisebranding

January 14, 2010 at 6:28 pm