Location Based Services: Who'll Get it Right?
Last week, you got a Groupon - $15 for $30 at a local restaurant. You checked out the consumer reviews on Yelp, purchased the Groupon, scheduled your hot date with your mom, checked in on Foursquare when you got there and then Liked the restaurant after the delicious pumpkin soup with a hint of cumin and paprika blew your mind. Does this scenario sound familiar?
What’s the leverage point there? Incentives+Real-time Marketing.
Location Based Services are not going away, and what’s more, they making a play for a major marketing strategy. As consumers, what started out as a good ole friendly competition of who could “check-in” more has turned into a goldmine for geo-based customer interaction opportunity. In other words – all of the stars aligning under one integrated platform that incorporates most (if not all) of the scenario above.
It seems these days that LBS are a dime a dozen – Foursquare, Yelp Places, Google Latitude, Gowalla, the list goes on – but the market killer will be who best integrates real-time coupons and incentives for a consumer. If I check in to Mom’s Corner Coffee Shop and automatically get a free pastry, maybe my loyalty will slowly move away from Starbucks. Let’s face it – some of us are cheap.
All of them are starting to do it – but remains to be seen is who does it best.