via www.mobilemarketingwatch.com
No one quite expected Foursquare would grow so large so fast. Like other fast-growing Web companies, Foursquare has an enormous user-base and the attention of the entire tech industry, but has yet to develop a sustainable business model to monetize what its created.
The obvious business model is monetization via local businesses- the ones cashing in on the “check-in” craze Foursquare pioneered. Without Foursquare’s help, savvy business owners have already begun offering discounts and specials to customers who check-in to their locations frequently, or become mayors, and the concept has paid off nicely so far.
Foursquare has taken note, however, and has just created a dashboard to allow local businesses
that want to offer mayor specials and other rewards to people who check-in an easy to use Web-interface to organize, track and promote their various offers.
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