Here’s a highlight of some of the top local-business-related news of the week:
[Location App News] Foursquare Opens Its Ad Platform to Small Businesses
Source: Fast Company
Foursquare announced this week that its ad tool is now open to 1.5 million merchants after months of testing. The tool allows businesses to target relevant customers, set a monthly budget for ad spend, and track ad performance. Ads can feature a special offer or highlight popular user tips.
Analytics will track clicks and check-ins / redemptions, providing businesses with a clear correlation between ad dollars spent and dollars earned in sales. Businesses can choose to spend as much or as little as they like to run campaigns; the preliminary average spend appears to be between $200-500 a month.
Key Takeaway: Running ads on a location-based app like Foursquare could help you convert more foot traffic into paying customers for a very modest up-front investment. And if you already have great tips for your location on Foursquare, running an ad can help you share positive word-of-mouth feedback with additional consumers.
[Social Media News] Twitter Adds Tweet Scheduling, DMs from All Followers
Sources: AllTwitter, Business Insider
Twitter launched several product updates this week, two of which are especially helpful for businesses and brands:
- You can now schedule Tweets, including Tweets with photos, up to a year in advance using the Twitter ad interface.
- Anyone who follows your Twitter account can now send you a direct message (DM) without you having to follow their account as well.
While many social media management services already provide Tweet scheduling capabilities, this is the first time users have been able to schedule posts from Twitter itself. Scheduling Tweets with photos is something altogether new—and exciting, considering that Tweets with photos are 94% more likely to be shared than text-only Tweets.
Opening DMs to all followers has both positive and negative consequences. On the positive side, it means that customers can send you a private question or complaint rather than publically commenting in your feed. On the negative side, it also means that random people who follow you can spam you with unwanted messages.
Key Takeaway: If you’re not already active on Twitter, these improvements will make it easy to get started. Sharing engaging content and managing customer communications is now simpler than ever.
[Social Media News] Facebook Adds Review Button to Place Pages
Facebook is beginning to roll out Review buttons for Place Pages this week. The button appears in the top menu next to the Follow, Like, and Message buttons. When users click the Review button, they can rate and review the business.
Reviews are published on the Place Page, in the News Feed, and in the Ticker. They can also be used as the basis of right-column ads.
Key Takeaway: Recent changes to Facebook’s Graph Search are helping consumers find your business Page. Now consumers who find you are also able to write reviews directly on your Page. Make sure to assign someone to monitor your feedback on Facebook so that you can address any negative reviews or ratings. (Note: As with major review sites, you can’t hide or remove reviews from your Page once they’re posted.)