Foursquare is becoming the world’s biggest location-based data powerhouse for a reason. With all the years of functioning accumulating the location-based services model, Foursquare is now in possession of an astronomical amount of data and APIs that are used by giants like Microsoft and Twitter.
There is no doubt about it that Foursquare has brought location-based intelligence into our lives. This intelligence is not only useful to the users, but marketers are made to understand the viability of advertisements in terms of which ads are leading to more visitors.
Enough about Foursquare? Wondering how you can make your business better? Perhaps better than Foursquare?
Let’s take a look at how one can make their business as competitive as Foursquare. The location-based apps in the industry, as small as they are, focus on acquiring data regarding the user’s location in order to make businesses interact with them. If you take a look at the competitors of Foursquare, you won’t find much except directories with loads of reviews and ratings that enables users to know about a business beforehand.
How do we amalgamate the two and make a business model which is better of the two? What are the features that we would like to add to this model?
In order to compete with giants, we need to make a model that facilitates the needs of the user and the demands of the business owners. So, a business model inclusive of the needs of all the stakeholders should be made.
Sounds difficult? Well, we can make it easy for you!
When any user gets to know about the places on the basis of their location, and all they can do is check-in, it limits the user to some extent.
So, what can be done about it?
A business model that lets users book appointments or make advance booking could be of great help to make the business model better. Apart from this, if users are provided with a list of places that are among the people’s favorites or maybe make a section for the editor’s favorites in every category, it would add to the business model.
The location-based service model makes a lot of data, there’s no doubt about it, but having the customers share their reviews about the place would be something that would be an addition to the business model. Reviews and ratings will not only include what’s on the customer’s mind, but it will also add more data. This will in turn lead to higher search engine result pages as it will increase keyword search. Thus, making the business model inveterate.