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Foursquare 3.0 Aims To "Redefine Loyalty"

Today Foursquare announced “Foursquare 3.0,” an enhanced version of its mobile applications that adds new content, features and options for users. There are new recommendations (“explore”) that take into account your check-ins and those of your friends and network.

There has also been “a major overhaul to the leaderboard.” Finally the company hopes to “redefine loyalty,” with a range of new offer types and tools for merchants:

So, later this week, we’re rolling out six new types of foursquare Specials for merchants. Business will now be able to offer Specials to swarms, groups of friends, regulars, newbies, Mayors, or simply to everyone. And, on the Places screen in the app, you’ll now see a list of all the Specials nearby, so it’s easier to find places that reward foursquare users. With over a quarter million businesses verified on foursquare, these new tools will mean more rewards for users everywhere in the world.

Foursquare’s Tristan Walker was the keynote speaker at the end of first day of SMX. He spoke about an expanded vision for Foursquare that at once appeals to brands and small businesses as both a loyalty and new customer acquisition platform. He mentioned that roughly 250,000 small businesses now use Foursquare as a promotional tool. The company went from 900 SMBs to 250K in about a year.

Walker spoke about the new partnership with Amex. He also talked about real-world case studies, including a very successful Jimmy Choo promotion in London using Foursquare, among several other case studies.

Asked about the Foursquare revenue model Walker said that the company has some existing revenue generators. He said, however, that the company is still figuring the model out but is “not worried” right now. The task immediately ahead, said Walker, is trying to get as many small businesses on the platform as possible.

Asked about “check-in fatigue,” which many technology insiders complain about, Walker said that the enhancements being rolled out today will help keep users engaged. He added that check-ins continue to grow and that Foursquare has seen “half a billion checkins.”

Danny asked Tristan Walker about the “weirdest” badge Foursquare offers. Walker talked about the check-in space and the battle for the mayorship of the White House.

At the end of the session Walker was mobbed like a celebrity on stage. Where’s the Tristan Walker badge?


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