Foursquare Whitepaper: How Foursquare Will Break Your Marketing and Business Overnight

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About three years ago, before Oprah had even heard of “Twitter,” Twitter was making new millionaires. No, not just @Ev and @Biz. Twitter made the most sought after CEOs and VCs in Silicon Valley directly accessible. It was as if there was a new tech security breach in their multiple secretary and executive assistant firewall. All you had to do is send @fredwilson a Tweet and he would meet with you.

Youtube did the same for hundreds of starving film school students. Youtube needed content so they pushed their early adopters using Google’s checkbook. Overnight, singers got MTV deals and record label deals. Overnight, producers on iBooks got pilots on major networks.

When ever a new disruptive technology ramps up, early adopters get unique positioning. All they have to do is sit there and the platform’s growth becomes their growth. It’s just like surfing one of those waimea swells during a storm.

Timing is Everything. But Location, Location, Location is Everywhere
It’s the virtual equivalent of what happened to an Armenian friend of mine. His father built a gas station on a parcel of rural land in the middle of nowhere. A year later, fortune 500 corporations moved in all around him. You’ve probably filled up your tank at his station. It’s the one in the middle of Cupertino. And he also owns the one across the street. He doesn’t even own an iPod.

Imagine how your business and marketing strategy would change if you could forecast what a billion people like Gus were going to do tomorrow.

Now, Foursquare is that new disruptive vehicle. But personally, I think the more interesting story is not how Foursquare will empower your business. I think what’s more interesting is how Foursquare will empower Foursquare.

Just today, Foursquare was reported to be in talks about selling their data to Bing, Yahoo or Google. If you don’t know why this is a big deal, read on gentle reader, read on.

I used to have an office in Cardiff by the Sea, CA. It was on the strand just between the San Elijo Lagoon and the Pacific Ocean. Blue water was everywhere. And so was old Gus. Gus hobbled up and down the most beautiful stretch of San Diego coast line with a shopping cart filled with soda cans he’d dug out of public trash cans. Nobody ever figured out what he did with the cans since he obviously couldn’t drive to a recycling facility. What’s more, nobody ever figured out how he got to this stretch of beach from whatever bridge he slept under.

You Don’t Even Have to Use Foursquare to Be Profiled
At this point, you might be thinking that if Gus used Foursquare, we’d know everything about him. But that’s financially useless information. What gives Foursquare and you extraordinary business leverage is the implied data about Gus.

Toward the end of Gus’s life, we noticed he was missing from his usual beat every now and again. He was the topic of conversation at the Chart House where staff and guests all grew to take comfort in his cameos.

The staff and guests all used Foursquare. It was Dodge Ball at the time. But that’s not even the exciting part.

Even if You Omit a Check In, Your Location Pattern Implies Your Hidden Rendevous
If Gus was alive today, his entire demographic profile would be transparent using the data Foursquare wants to sell Google or Bing. It would be obvious that he visited Dr. Malone off of Santa Fe Ave. He’s the top cancer specialist in the area. It would be obvious that Gus went to the county court house after seeing a notary public.

Then if you run a DB query to find all users who had the same “check-in” pattern, you’d find that many of the users also met with Steven R. Jennings Esq, the most expensive estate planning attorney in San Diego.

Even if Gus never used Foursquare, his fans driving around town checking-in saying they “spotted” @Gus would be enough for whoever has access to the Foursquare data to realize that Gus was an eccentric multi-millionaire looking for someone to give his money to. Turned out, he gave it the to Jehovah’s Witnesses. Multiple Millions changed hands because one of them drove him to the dump on a weekly basis.

Imagine how your business and marketing strategy would change if you could forecast what a billion people like Gus were going to do tomorrow.

Follow me @journik. My next post will demonstrate how your “location patterns” reveal your age, sexual orientation, income, and even health prognosis into old age.

Posted via email from Social Media Marketing Strategies for the Closet Revolutionary