AdAge has reported that the location specialist will debut a paid-media platform in June that will let merchants promote special deals.
So when users search for local specials, they can see paid ads – and these ads will be targeted using the same algorithms mine users' previous check-ins - and those of their friends - to make the results more relevant.
Foursquare is already working with brands, of course. AdAge cites a previous campaign with Walgreens to embed barcodes that users can unlock by checking in to a store and redeem for savings.
It's also worked with Coca Cola, AmEx and others.However, most existing activity has been experimental. For example, Time Out New York rolled out a Foursquare-powered leaderboard to show user preferences around its Best of New York issue.
This is the first indication of a detailed revenue generating strategy.
Mobile Entertainment - 24/04/2012
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