Foursquare has finally cracked the user-generated review and location-based service business model. They have found a conflict-free way of having businesses subscribe to their services to offer coupons to customers and more significantly a lens into their behaviors and demographics. The alpha version of Foursqaure’s “Business Dashboard” which houses a robust set of real-time analytics (similar to a Google Analytics dashboard) about check-ins, comments, coupon performance, trending and potential inter and intra benchmarks against other businesses looks very impressive:
Businesses and patrons will benefit as these services scale and with Facebook and Twitter’s push towards location-based service offerings they surely will in 2010 and 2011. I look forward to the day when customers will be able to offer insight into what businesses can do better in real-time and potentially what neighborhoods and communities can do better and what services/businesses are lacking. Businesses have been trying to solve the local model forever and I believe that location-based services have made a huge leap in this space.
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