What Happened: Twitter and Foursquare have partnered, meaning users now can tag specific locations to their tweets. Before the partnership, Twitter’s location services were general (e.g., “Midtown Manhattan”), but with Foursquare, the tagging can be more specific and contextual (e.g., “Nick’s Pizzeria”). Foursquare’s wealth of location data always has been its stronghold in the social media market, even after the company split its offering into two apps last fall: Swarm (used for “checking in”) and Foursquare (for location-based recommendations). The Twitter update is expected to roll out soon.
What This Means for Brands: Foursquare has 7 billion check-ins at 65 million places and 70 million user-generated tips about these places. By tagging tweets with local data, Twitter is gaining added insight into a user’s preferences. Both Twitter and Foursquare will get smarter about where people choose to spend time and what else they like. Both companies can work with brands to provide users with offers and recommendations that are useful to them based on their location data. Twitter also can expand its advertising options to include location-specific data. For example, if you tweet and tag your lunch in Grand Central Station, the Banana Republic Twitter account that you follow could let you know about a sale going on in a nearby store. The uses go beyond retail, though, presenting an interesting opportunity to brands with – and even without – a physical presence.