Foursquare Capital Corp (NYSE:FSQR) is leveraging its Geolocation tool to unveil two new platforms namely Places and Location Cloud. It is highly helpful for the businesses to track the user’s behavior and to target with customized products.
The company collects and stores all of the data of smart phone sensors in its Location Cloud platform. It helps businesses to identify the user’s patterns. It is part of the recently unveiled pinpoint marketing tool that will be used to target the customers through accurately knowing their habits.
The businesses can make use of Foursquare’s intelligence and tools to develop new apps and reach out to the customers worldwide. It also allows the businesses to target the customers across the world with localized content for each region. It is more than just longitude and latitude.
Though part of the Location Cloud, Places offer more insight into the businesses and interesting locations covered in the Foursquare repository. It has amassed information about 65 million points of interest. The prominent businesses covered in this new tool include Twitter Inc (NYSE:TWTR), Pinterest, Microsoft Corporation (NASDAQ:MSFT) and Garmin Ltd. (NASDAQ:GRMN).
The Places tool also provides information about the popularity of each location when compared to just map coordinates or an address. The tool also allows the creation of customized data sets from the repository of Foursquare for specific business needs.
It allows the businesses to add more data to the existing places of interest and license all or part of the database of the Places worldwide. The new tool relieves the companies from investing more funds, time and efforts to recreate their database about POI.
The businesses can now add more information to the apps being developed to target the customers. Therefore, it is a smart choice for the companies to enhance the visibility of each location to their customers and reap huge revenues.
For example, the travel companies can provide more information about the local hotels, etc. in a specific location to their customers. People can use Swarm to find details about POI in a specific location.
The database is constantly updated with more details and also by collecting feedback from the users.
The company is incorporating new tools and features leveraging its Geolocation prowess to generate additional revenues.
Why the companies are racing to Foursquare?
The companies can include the new tools in their apps to garner more customers and reap in more profits through growing business.
For example, Apple Inc. (NASDAQ:AAPL) has approached Foursquare to add location data to its mapping service.
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