Foursquare, a data machine

Foursquare, originally a mobile check in app for getting brand discounts and perks for consumers, was founded back in 2009. Seven years later, the app has decoupled into two apps (Swarm and foursquare) and is still allowing similar functionality, but for brands, this app is a whole new treasure chest of opportunity. It is a data machine.

Why should your brand care? Four reasons.
All the data
As stated in Wired – [Foursquare offers] massive amounts of location data that other companies collect. Lots of apps can access your GPS coordinates, but matching those coordinates to an actual place—such as a restaurant, a gym or a home—is more difficult, [and Foursquare helps with this]. Imagine, knowing where your consumer frequents on a daily basis. When they go to the gym versus when they run errands and where. What types of food and designers they prefer. It’s a goldmine of data for brands to uncover and relate to their own consumer and brand goals.
The accuracy
Not sure how accurate an app like this could be? Well according to Business Insider and Foursquare, it predicted the drop in sales of Chipotle in advance of its actual drop.

On April 12, Jeff Glueck, the CEO of Foursquare, published a post on Medium predicting that Chipotle’s first-quarter sales would be down nearly 30%. That was based on foot-traffic stats built from explicit check-ins and implicit visits from Foursquare and Swarm app users who enable background location.

Some call it alternative data. It’s not like the norm we’re used to in marketing statistics and data collection, in the past, but with our smart phones in our pockets, our smart watches on our wrists, and soon our smart earbuds in our ears, the data companies will have on where we are and what we’re doing will be unfathomable. Marketers rejoice.

Note – Currently this data is more accurate especially in cities versus suburbs/rural areas where it may have less usage.

You know what your target consumers are actually doing (before/during/after).

It’s based on their interests and what matters to them. You aren’t checking into something unless you have a purpose or interest behind it.

According to Fast Company – The company’s 35 million users have helped created a database of more than 50 million points of interest, from bars to restaurants to ice cream shops. While many companies have powerful location databases—Yelp, Yext, the Yellow Pages—Foursquare’s database is unique in that it’s inherently social: It was built on the 4 billion check-ins that users uploaded via the app.

It’s one thing to write a review, or state what you think on Facebook, it’s another thing to actually go somewhere and spend time there on a regular basis. Your habits and where you go, are a part of who you are as a person. Ask yourself, what did you do today? You’re likely to mention where you went, right? There you go. Foursquare has a timeline of where you went and in turn your target consumers. They know the % of consumers who are likely to go a nail salon after the gym or perhaps the grocery store. These trends and accurate points are helpful in knowing when they’ll visit your brand because it’s not just about being near the store/location, but when they actually step foot inside (which Foursquare can tell you).

You can create content and opportunities that really matter to your consumer and target them accordingly

Brands (along with their internal teams and agencies) can also work with Foursquare to determine the right content and approach for your specific audience based off the data collected. For example, your brand could consider targeted offers, or partnering with a retailer to provide a more exclusive opportunity. And with Foursquare’s offering pinpoint your brand can provide targeted content specifically based off of the data, where consumers actually go, utilizing their ecosystem of apps (including publishers/advertisers), audience segments (creating custom audiences based on the data and interests), and lastly working with partners (examples include but are not limited to AT&T, Samsung, and more).

Bonus:

And as a fun little scoop, most recently Foursquare determine who the audience was to visit comic con most and their related habits – as seen here.

Hello  “search and discovery” and “alternative data” – the new Foursquare. The Foursquare that most brands are thirsty after.

This post was originally written for socialnomics.  
Revision: Foursquare currently has 50 million monthly active users, over 100 million venues worldwide, over 10 billion all-time check-ins

Recent Snapchat Updates & What it Means for Marketers

Snapchat, the mobile visual application that allows for instant consumption of videos and photos has come out with some recent updates.

Although there are fun little things like filters there are two things that stood out to me: (1) applying temperature through Weather Channel data and (2) allowing users to view one snapchat per day more than once (rather than letting it self-destruct).

What this means for consumers:

  • Like Instagram, consumers can now create more visually appealing content
  • Consumers can add more context to their snapchats
  • Consumers can re-watch snapchats that were too quick or too memorable not to watch again

What this means for marketers:

  • Snapchats that are about contests, hidden previews, product launches, or special events can be viewed more than once by consumers – allowing more interactivity and potential word of mouth
  • Brands can view snapchats submitted by consumers more than once, which allows for easier screenshots to view and assess for winners of contests
  • Weather.com has already gotten inside Snapchat as a potential partner – which has potentially opened doors for others with context that is fitting for snapchat users
  • There are more “tools” at consumer and brand disposal for making snapchat content more fun and relevant (filters, speed, temperature, location, etc)

What’s next in the photo and video app field?

Let’s see what Vine or Instagram come out with next…

 This post was originally written for Social Media Club and my post can be found here

How to: Determine if you Should Develop a Mobile App for your Brand

The mobile app question is becoming an all too frequent one with brands these days. A better question is…”why do you want a mobile app?” Or how about “what will it achieve?” And also, “Is it better than a responsive website?” Yes, it’s true mobile apps are plentiful and more brands are hopping on board, from the useful app to the content distribution app to the game app to the “i am completely useless please don’t bother downloading me” app. What will your mobile app provide to your consumer? Is it worth the download? Let’s break it down with the questions you need to answer before you get started:

1. What is the purpose of the app? It is important to determine if the app will be useful or at minimum entertaining for the audience to use. For example, if it solves a pain point and brings forward a solution, that is great.

2. Will a RWD site be easier and more effective? This doesn’t mean RWD is a shortcut or a simpler solution. RWD may be a better solution for your audience depending upon their habits and your reasoning for wanting an app.

3. Can your brand build the app in-house? If not, it is important to determine if there are additional costs your brand may accrue due to outsourcing the project.

4. Where are your developers located? If they are located abroad, time zone issues may cause delays in efficiency (not always, but sometimes).

5. What platforms will your app be available on? It is valuable to understand where your audience plays – are they iphone or android users? If they lean more one way than another it may help to launch one one first, and then the other. Test and Learn.

6. How will you promote the availability of your app? No one will know your app exists unless there is some budget set aside to promote the existence of the app, not just on your owned sites, but potentially across social, newsletters, and paid search to drive traffic for downloads.

7. Can your team update regularly for bugs and fixes? This is important to ensure people don’t get frustrated and delete your app after a couple tries.

8. Will your app be an investment or accrue revenue? Having a revenue model in place is helpful, but not necessarily the primary reasoning behind an app. It may be to increase engagement and provide another way for consumers to interact with the brand.

9. Do you have a mobile strategy in place? I cannot stress enough that a strategy is helpful before even reaching out to developers. Just like one needs a content strategy or a social media strategy, a mobile strategy is helpful in order to determine the right look/feel, content, promotion, audience, and how to differentiate amongst the competition.

10. Does your idea already exist? If so, how is yours unique? This is always a tough thing, but sometimes if your app is already there, don’t bother. That being said, sometimes there is a way to differentiate and make your app stand out with a feature others have not implemented or don’t have the ability to implement.

This list isn’t exhaustive so if you want to add to this list, feel free to do so in the comments below. And if you want more advice on how to start out on your first mobile app (or your 2nd or 3rd), feel free to reach out as well.

NOTE: This post was originally written for socialnomics. You can see my post here.  
Image Source: http://blog.farreachinc.com/2012/03/27/app-store-optimization-aso/

What is the Future of Mobile Payments

First people feared giving your credit card number over internet versus giving it to an operator on the phone…now we are using the phone to swipe your credit card via an online app. Funny how things become so easily integrated. According to Pew Research, “Within the next decade, smart-device swiping will have gained mainstream acceptance as a method of payment and could largely replace cash and credit cards for most online and in-store purchases by smartphone and tablet owners, according to a new survey of technology experts and stakeholders.”

Are you one of the early adapters who has already explored mobile payment options such as Starbucks or Level Up?

The Benefits:
Starbucks: According to Venture Beat: “The coffee chain has processed more than 42 million m-payment transactions since its Mobile Pay platform was launched in January 2011, Van Grove tells us. Back in December, Starbucks reported that “there have been 26 million mobile transactions to date,” so evidently the growth rate is accelerating.” What can we learn from Starbucks? Consumers like what’s simple, easy, and not a big diversion from their regular habits. What makes life simpler? Using a cell phone app which is easy to access, program, and keep track of. Starbucks demonstrated this with finesse, which can be seen from the growth discussed.

The Issue:
Just at Starbucks? Multiple locations and uses would be nice – rather than having multiple apps. LevelUp tries to resolve this issue with their mobile payment app. Not only can you sync up any credit card, but it can be used at multiple places of business. My favorite part is that you earn money to spend at locations when you use the app. Why pay directly with a credit card when you earn rewards from a simple to use app? 

Perks / Rewards
Speaking of perks and rewards…most credit cards also have these when you spend a certain amount. Do mobile app rewards match up to loyalty rewards of say, an Amex card? I guess it depends how you view rewards and what rewards you prefer. I look forward to the day that Amex has a mobile payment app of their own which sync the rewards available — and can be used anywhere, anytime, with the touch of an app button or a request to Siri.

Apple – The New Warden?
And then we have Apple who may be coming out with the iWallet. According to Mashable, “If implemented, the system would allow parents to control how much their child is able to spend, where those purchases can take place and what types of transactions will be allowed.” In short there would images that could be shared and notify the parent on what the child is purchasing – from dvds to alcohol.

Heading to the start line…
Others aren’t far behind either: eBay has jumped in the ball game with PayPal, andMastercard is not far off with experiments in the lab with nifty QR Codes. Who will be first? Who will be best? Will 2020 be the year that Mobile Payments take over? Will it be sooner? There are lots of questions, and more answers come each day. Share your thoughts in the comments below.

NOTE: This Post was originally written for Social Media Club and my post can also be found here

Image Credit: Bigstockphoto.com
Additional Reading:
http://mashable.com/follow/topics/mobile-payments/
http://mashable.com/2012/04/17/mobile-payments-2020/
http://mashable.com/2012/03/09/iwallet-apple-patent-iphone/
http://www.readwriteweb.com/archives/mastercard_shows_the_future_of_mobile_payments_is.php
http://www.forbes.com/sites/greatspeculations/2012/03/23/with-paypal-here-ebay-jumps-into-the-mobile-card-payments-fray/
https://squareup.com/

 

15 Incredible Mobile Statistics

Love your smart phone? Debating a tablet? Gone app crazy? Check out these stats on the mobile market …

1. Smart phones

“Of the world’s 4 billion mobile phones in use, 1.08 billion are smartphones.”

2. Smart phones

Of those, 3.08 billion are SMS enabled.

3. Mobile

One half of searches are done via a mobile device: smartphone,tablet, etc.

4. Mobile

86% use their mobile devices (smartphone/tablet) in conjunction with watching TV. My question, aren’t most of them watching TV on their mobile device too?

5. Mobile Apps

Over 300,00 mobile apps have been developed in three years. Apps have beendownloaded 10.9 billion times. But demand for download mobile apps is expected to peak in 2013.

6. Mobile Web

The number of people accessing the mobile Internet is growing fast and is expected toovertake the PC as the most popular way to get on the Web within five years.

7. Mobile Hours

Average Americans spend 2.7 hours a day “socializing” on a mobile device.

My thought…that’s all?

8. Mobile Use

61% use their mobile devices to play games.

9. Mobile Use

Almost 50% use for social networking. Like it, Share it, Tweet it, + it.

10. Mobile Demographics

Women 35-54 most active in social networking on a mobile device.

11. Mobile Marketing

Search ads and location ads (paid-for positioning on maps and augmented reality apps) will deliver the highest revenue, while video/audio ads will see the fastest growth through 2015.

12. Mobile Search Engine and Advertising

Google’s gross revenue from mobile advertising is over US$1 billion per year.

13. Mobile Marketing

71 percent of smartphone users that see TV, press or online ad, do a mobile search for more information.

14. Mobile Marketing

But 79 percent of large online advertisers still do not have a mobile optimized site.

15. Mobile Apps

One in four mobile apps once downloaded is never used again.

In short, Mobile devices, mobile marketing, and mobile apps are not going away. My advice, get in while it’s hot…!

This post was originally done for Socialnomics

Sources:
http://mobithinking.com
http://www.digitalbuzzblog.com/
http://tag.microsoft.com/home.aspx