What Facebook Locations Mean to Your Business

August 24, 2010

LBS marketing is heating up with Facebook’s roll out of a Locations feature last week. Will be an application killer? Not yet, the application still lacks the reward system Foursquare thrive on, the venue ratings and reviews that feed the hungry Yelper’s ego, and the playful features of Gowalla. What it does mean is LBS has hit the masses. For businesses here’s the immediate impact:

1. Customers will have an even bigger voice:

Now that Facebook statuses can be tied directly to a venue you’d better bet people will express their tips, satisfaction and dissatisfaction to wider audiences. If your business has yet to put a social CRM or listening program in place you are officially behind the curve.

2. Facebook ads will be more targeted:

With Location,s geo-targeting will go beyond one’s home town to real time on the spot marketing. Your ads must become more relevant to place of intent. Facebook advertising has grown ten-fold in the past year. It’s time to take it seriously.

3. Reputation management is about to get foggy:

Because many Facebook users’ privacy settings hide statuses from the public eye much of what they say about your venue and business will be unseen. Unlike Foursquare and Gowalla that target a more open audience who enjoys the simplicity of sharing on Twitter without giving away your family photo album or everything you like in the world. As a brand your connection to your audience through a Facebook Page will become even more important to gain insights and as a line of communication. With the business tools in place to manage reputation and reward customers, Yelp and Foursquare remain top platforms. However they lack the volume of audience on Facebook. Facebook cannot be ignored.

What LBS (location based services) are in your marketing plan in 2010 and 2011? Leave a comment or take the poll to tell us specifically about Foursquare.

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