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What:  Foursquare will launch its’ advertising service within their applications Foursquare and Swarm in Mexico and Brazil.
Why it matters: Advertisers will be able to create campaigns in Foursquare and Swarm at cost that will depend on the strategy companies develop  with IMS Internet Media Services (IMS), Fourthsquare’s exclusive advertising sales partner in the region . Portada talked to Ignacio Vidaguren, COO & Partner IMS Internet Media Services, on this expansion.

descargaTo continue expanding beyond U.S. borders, Foursquare will launch its’ advertising service within their applications (Foursquare and Swarm) in Mexico and Latin America to establish a more profitable presence in the region and help advertisers reach consumers with campaigns using Foursquare’s ad products through the social net mobile applications.

This service has been operating in the US for two years and has already reached countries like UK and Turkey.

The launching coincides precisely with a report that talks about the slump the social network has been experiencing, since according to VentureBeat the interest in Fourthsquare relaunching and and its check-in companion app Swarm dropped.

With this platform, advertisers will be able to create campaigns in Foursquare and Swarm, where they are charge on a Cost-Per-Action basis, or when users either interact with ads, or check into a specific venues within 72 hours after seeing related ads.The cost will depend on the strategy that companies develop along with IMS Internet Media Services (IMS), Fourthsquare’s exclusive advertising sales partner in the region since March 2014.

The introduction of Foursquare Ads in Latin America comes as the region is experiencing exponential year-over-year Internet growth and among the highest mobile penetration and social media engagement rates in the world

The introduction of Foursquare Ads in Latin America comes as the region is experiencing exponential year-over-year Internet growth and among the highest mobile penetration and social media engagement rates in the world: According to comScore, Latin American internet users spend ten hours a month – twice as much as the average in the rest of the world – on social media platforms.

ignacio-vidaguren-e1383578591294Ignacio Vidaguren, COO & Partner IMS Internet Media Services, talked to Portada in a written interview about this recent launch:

Portada: Can you please explain how a promoted place ad looks like on Foursquare?

Ignacio Vidaguren: “Foursquare uses location data to target your business’ ideal customers, like people in the area searching for the products and services your business offers, or people who have visited similar businesses. Promoted Places brings new customers right to you by featuring your business prominently as the first listing people see. For example, if a user searches for “coffee” on Foursquare, a Promoted Place would be featured at the top of the list, making sure potential customers visit you, not your competition. The only visible difference between your listing and your competitors’ listings is a yellow lightning bolt and the word “Promoted” at the bottom of your listing. To further see how this works, please go here.”

Portada: How is it sold, on a CPM basis or another pricing metrics? how does a typical CPM for this product look like?

Ignacio Vidaguren: “The Promoted Places feature is sold on a cost-per-action basis, based on two actions: ad clicks and store visits within 72 hours after seeing the ad. Foursquare’s technology has the capability to know if the user visited the store even if the user does not check in. In the case where the user both clicks on the ad and visits the store, Foursquare will only charge for one of these actions. Both actions, however, will be reported.The Place Based Ads feature is sold on a cost-per-click basis.The Foursquare Audience Network, which is a feature that lets businesses reach Foursquare audiences based on their real world activity, with the reach and scale of display, mobile, video, and social channels (like FBX), is sold on a cost-per-impression basis.”

Portada: Are there integrations between Foursquare and Facebook?

Ignacio Vidaguren: “Yes, the Foursquare Audience Network can be run on Facebook Exchange, a feature that helps business reach the people who have expressed interest in their products or services, based on their only behavior. Foursquare users can also share their activity – Swarm check-ins, Foursquare tips, etc… – on Facebook as well as other social media networks.”

Portada: How many users does Foursquare have in Latin America?

Ignacio Vidaguren: “Foursquare boasts a community of over 55 million users, with over half of its community outside of the United States. Foursquare has seen unprecedented growth on its platform in Latin America, especially in Brazil and Mexico, which led to its expansion into the region. Mexico and Brazil are also the third and fourth countries, respectively, in which Foursquare has started offering its advertising products.”

Portada: Will you be selling to some accounts pan-regionally out of Miami or other major Latam marketing centers?

Ignacio Vidaguren: “We will be selling to accounts pan-regionally within Latin America and the Caribbean.”

Portada: Who at IMS will be in charge of the Foursquare sales?

Ignacio Vidaguren: “IMS has built dedicated teams in Brazil, Mexico and Miami to take charge of Foursquare sales. These regional advertising teams have already begun servicing global brands like Palacio de Hierro, Nike, and Pepsi in Mexico and Citroën, VISA, Smirnoff, and Johnnie Walker in Brazil.”

What: Foursquare will work with IMS Internet Media Services (IMS), to expand its reach and scope in Latin America.
Why it matters: With this move, the mobile application Foursquare, which according to the company is used by more than 50,000 developers to add locations to their applications, enters the Latin American market.

imsfoursquareIMS Internet Media Services (IMS), has been selected by Foursquare as their exclusive advertising sales partner in the Latin American region, expanding the reach and scope of Foursquare’s advertising tools to new markets in 2014.

Foursquare is a free mobile application that helps you see where your friends are and track them. More than 45 million users have joined Foursquare since 2009, according to company data.Foursquare’s products give brand marketers the advantage of  being only charged on a Cost-Per-Action basis, or when a user either interacts with an ad or checks into a specific venue within 72 hours upon seeing that ad. Even more, engagement rates for Foursquare outpace those of traditional banner advertising and provide actual, measurable ROI for brands.

Later this spring, IMS will introduce dedicated sales teams in two of the region’s major markets, Brazil and Mexico, to help advertisers reach consumers with campaigns utilizing the full suite of Foursquare’s advertising products. The company will also offer customized training programs for agencies and brand advertisers on how to best optimize these formats.

“We’re thrilled to partner with Foursquare, one of the most recognizable names in social today. Foursquare enjoys tremendous popularity in the region, and many brands will benefit from the unique advertising opportunities to reach consumers that only Foursquare can offer,” said Ignacio Vidaguren, COO of IMS.

“One of the key goals for Foursquare in 2014 is to expand our advertising tools to additional markets worldwide, and we’re glad to work with IMS to enter Latin America,” said Steven Rosenblatt, Chief Revenue Officer of Foursquare.

The Foursquare Ads´ introduction in Latin America comes as the region is experiencing exponential year-over-year Internet growth and among the highest mobile penetration and social media engagement rates in the world, According to comScore. Whatsmore, Latin American internet users spend ten hours a month on social media platforms. Smartphone adoption is also projected to continue above global averages in 2014 and upcoming world events such as the 2014 World Cup and 2016 Olympic Games will present new mobile advertising opportunities for brands and business of all-types.

Foursquare will be the latest technology company to partner with IMS in recent years to scale, monetize and navigate the nuances of the region. In 2012, IMS was selected by Twitter as the company’s exclusive ad sales partner in Latin America and in 2013, Waze selected IMS as its exclusive regional ad sales partner. Most recently, Spotify partnered with IMS to enter the market with advertising opportunities on the music-streaming platform.

What: Microsoft Corp. made a US $15 million investment in Foursquare.
Why it matters:  Microsoft will add features to its Windows phone software,  such as the voice-activated assistant “Cortana” and offers targeted to the user’s location.

microsoftMicrosoft Corp. has invested US $15 million in Foursquare Labs Inc., building a partnership that will help Windows-powered phones offer restaurant and entertainment suggestions to consumers.

The investment is part of a funding that valued New York-based Foursquare at more than US $600 million last December.

Following the investment, Microsoft will add features to its Windows Phone software to match with Apple Inc.’s iPhone and Google Inc.’s Android software, which together dominate the smart phone market.

A voice-activated assistant named “Cortana” will provide data from Foursquare. In December, Foursquare raised US $35 million led by venture fund DFJ Growth. The company spent the year adding products for businesses to advertise to its users as well as ways to send instant and relevant recommendations to people. Currently, Foursquare has 45 million users, compared with more than 230 million for Twitter Inc. and 1.2 billion for Facebook Inc. Through this deal, the company will get a new stream of data licensing revenue from the partnership.

The investment was confirmed by Foursquare Chief Executive Officer Dennis Crowley. “This is huge validation for the stuff we’ve been working so hard on. It’s one of the leaders in the space we work in looking at us and saying we can really help power the next generation of devices,” Crowley said. Microsoft will gain access to more of Foursquare’s data as part of the deal. That data would allow Microsoft, with a user’s permission, to push out tips, suggestions and discounts tied to a person’s location.

Source: Bloomberg.com

What: Foursquare has just announced its advertising platform is now open for businesses of all sizes, all over the world. Why is it important: Social networking sites have evolved and are finding creative, useful ways to monetize their platforms, through well-planned and previously tested initiatives. Since it opened its platform to a limited number of large advertisers, about nine months ago (launching a self-serve version later on, for some selected small businesses), Foursquare has been aiming towards the evolution of its business so as to better serve its 40 million users worldwide, moving forward from being a simple “check-in app” to proving it has a true monetization advantage, specifically in terms of advertising spaces within its platform. Today, the company has unveiled its latest development on that front, Foursquare Ads, which is now open for advertisers of all sizes. Beginning today, small businesses all over the world will be able to create their own promotions directly on Foursquare’s ads dashboard. Foursquare is banking on its location-based check-in services to set it apart from competitors like Google and Facebook, as engagement will be measured by how many people actually visit the place in question, and advertisers will be charged based on that.

This is the first at-scale global platform that lets small businesses all around the world buy on a hyperlocal level to find nearby customers.

–Steven Rosenblatt, Foursquare’s chief revenue officer.

According to TechCrunch’s Ingrid Lunden, Foursquare is hoping to tap into the 1.5 million small businesses that have already registered their businesses for free on the service (that’s up from 1.3 million in April this year). While registering will already make those businesses discoverable through Foursquare’s apps and website when people search for restaurants or other services in their vicinity, the idea here is that buying ads will give these businesses an extra exposure lift. For now, the ads will be running just on Foursquare’s own mobile and web platforms. The advertisement-posting process is very simple, because “so many small businesses are still lacking in digital and social media literacy”, says Steven Rosenblatt, Forsquare’s CRO. ““They don’t really know what a like means. They don’t really understand clicks for that matter.” Forbes reports that an action at a coffee shop, for instance, where consumers are only likely to spend a few bucks, might cost the advertisers $1 to $3, while the same action at an upscale restaurant would probably be $5. Mashable’s Todd Wasserman elaborates to say that with Foursquare’s new self-service page, businesses can state their business needs and budgets, and Foursquare will do the rest. “You can say, ‘Here’s the business I want to drive traffic to, here’s how much I want to spend and here’s my monthly budget. Go for it,'” says Noah Weiss, Foursquare’s director of product management. Foursquare will provide metrics for the ad, including the number of views, actions, action rate and cost per action. Sources: TechCrunch, Forbes, Mashable.

What: Foursquare has just announced its advertising platform is now open for businesses of all sizes, all over the world.
Why is it important: Social networking sites have evolved and are finding creative, useful ways to monetize their platforms, through well-planned and previously tested initiatives.

Since it opened its platform to a limited number of large advertisers, about nine months ago (launching a self-serve version later on, for some selected small businesses), Foursquare has been aiming towards the evolution of its business so as to better serve its 40 million users worldwide, moving forward from being a simple “check-in app” to proving it has a true monetization advantage, specifically in terms of advertising spaces within its platform. Today, the company has unveiled its latest development on that front, Foursquare Ads, which is now open for advertisers of all sizes.

Beginning today, small businesses all over the world will be able to create their own promotions directly on Foursquare’s ads dashboard. Foursquare is banking on its location-based check-in services to set it apart from competitors like Google and Facebook, as engagement will be measured by how many people actually visit the place in question, and advertisers will be charged based on that.

This is the first at-scale global platform that lets small businesses all around the world buy on a hyperlocal level to find nearby customers.

–Steven Rosenblatt, Foursquare’s chief revenue officer.

According to TechCrunch’s Ingrid Lunden, Foursquare is hoping to tap into the 1.5 million small businesses that have already registered their businesses for free on the service (that’s up from 1.3 million in April this year). While registering will already make those businesses discoverable through Foursquare’s apps and website when people search for restaurants or other services in their vicinity, the idea here is that buying ads will give these businesses an extra exposure lift.

For now, the ads will be running just on Foursquare’s own mobile and web platforms.

The advertisement-posting process is very simple, because “so many small businesses are still lacking in digital and social media literacy”, says Steven Rosenblatt, Forsquare’s CRO. ““They don’t really know what a like means. They don’t really understand clicks for that matter.” Forbes reports that an action at a coffee shop, for instance, where consumers are only likely to spend a few bucks, might cost the advertisers $1 to $3, while the same action at an upscale restaurant would probably be $5.

Mashable’s Todd Wasserman elaborates to say that with Foursquare’s new self-service page, businesses can state their business needs and budgets, and Foursquare will do the rest.

“You can say, ‘Here’s the business I want to drive traffic to, here’s how much I want to spend and here’s my monthly budget. Go for it,'” says Noah Weiss, Foursquare’s director of product management. Foursquare will provide metrics for the ad, including the number of views, actions, action rate and cost per action.

Sources: TechCrunchForbes, Mashable.

4square_promo-265As Foursquare focuses on the question of growing revenue, it has been slowly turning its game-style mobile check-in app into a platform to support location-based advertising and marketing. That strategy got an international fillip today in a new deal with music streaming service Deezer: people who use the app in the 15 of the 182 countries where Deezer is active, to check in to live music events across some 15,000 venues, get a chance to also pick up a three-month Deezer Premium subscription.

It’s not as generous a deal as it may sound: The offer only applies in Brazil, Mexico, UK, Ireland, Indonesia, France, Belgium, Netherlands, Luxembourg, Spain, Italy, Germany, Australia, New Zealand, Poland and users will need to check into at least seven events to qualify. That, in turn, makes a user eligible for the offer, although it not a guarantee that each will win the premium subscription.

International Expansion

Still, the deal highlights a couple of important things. For starters, it’s a measure of how Foursquare is continuing to push at growth and raising its profile internationally. This is not to be underestimated: in February, CEO Dennis Crowley told me that of all the new users it’s picking up at the moment, some 60% are outside the U.S.

For Deezer, it’s a sign that the company is looking increasingly to leverage other services popular with smartphone users to continue to raise its profile — scale being an important part of the equation to make the financials for a music streaming service work. Deezer, which has raised an eye-watering $149 million in funding, currently has some 25 million tracks in its catalog.