On Monday, Foursquare announced that it will let all businesses advertise on its popular social media platform.
The 1.5 million small businesses that have claimed their listing and using Foursquare will now be able to advertise on the app. About 50 percent of the small businesses using foursquare are in the US and the remaining 50 percent are scattered around the world.
Just over a year ago the company launched a beta program for paid ads, recruiting key retailers and a small selection of small businesses to participate in the program. After a year, Foursquare is ready to open the program to small businesses everywhere.
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“Today, we’re making it possible for every small business in the world to start using Foursquare Ads – an easy-to-use way to connect with potential customers nearby. We’re moving past the days when business owners have to figure out if a “like” or a “click” has any meaning in the real world. We built this to be simple and flexible, learning from our four years of data and relationships with over 1.5 million small businesses,” says Noah Weiss, Foursquare's director of product management.
Businesses have a choice between two basic ads: search and on the Foursquare home screen.
Foursquare will provide data metrics for the ads including number of views, actions, action rate and cost per action.