Foursquare surpasses 10M
Foursquare is officially the first location based network to surpass 10 million users, making roughly the size of the population of Bolivia. Foursquare is frequently featured in smartphone television apps and consumer awareness is at an all time high with various celebrities having signed up for the service.
To celebrate their milestone, Foursquare put together the animated infographic below charting the growth of the location based network.
The infographic reveals some extremely interesting information and we were intrigued to learn that Foursquare users from America have visited 169 other countries. Could this be an indicator that Foursquare users are more affluent?
We were excited to see location based technologies spread to all continents and the growth accelerate rapidly. In its infancy, Foursquare had few users and early adopters were heavy users. Foursquare does not in this instant share information in their infographic pertaining to check ins per user, but we suspect not all ten million are active users. Nonetheless, it is a major milestone many companies never dream of achieving.
Foursquare and real estate
We have witnessed a variety of uses for Foursquare in the real estate industry. There are two primary functions of Foursquare in regard to real estate- push marketing and pull marketing. It may not be politically correct to call activity “marketing,” but the point remains.
Pull marketing (or standard use) is putting forth your location and checking in everywhere you go, especially at listings. Using pull marketing is simply being present and a natural part of the community allows consumers to come to the agent.
Push marketing is when Realtors solicit people to check in at their listings, add their Foursquare profile to their email signature and the like. Push marketing in real estate is agents promoting the site and offering rewards for people checking in to their office or their listings, or running campaigns or contests around it.
Foursquare tactics are primarily being used by the early adopter crowd in real estate and is not mainstream as of yet, but whether it is Foursquare or another location based network, we are certain that networks of this nature will eventually be a mainstay in the industry given that no other industry is as focused on location, location or location as real estate.