Foursquare is today introducing a new advertising tool called Pinpoint, which takes advantage of the platform’s location expertise to target users based on where they go in the real world.
Foursquare says Pinpoint leverages Foursquare’s 7 billion check-ins and 55 million users to pull together its data. That includes information such as how recently consumers visited a location, their affinity to particular chains, and aspects about their lifestyle.
Foursquare says it’s already partnered with numerous brands, including Samsung, AT&T and FedEx, to provide some insights on consumers. It’s even prepared a nifty little video visualizing some of its data.
The platform can be used to advertise outside of Foursquare’s apps, and it’s cross-platform so it can work with a variety of devices.
Pinpoint is a sensible monetization strategy for Fourquare, which has oft been criticized for losing momentum in recent years – particularly since it span off its check-in functionality into the Swarm app.
Pinpoint would see the company making money from its biggest asset: the mountain of laction data it’s built up over the years.