Foursquare’s Key to Monetization: Targeted Discounts, Not Dumb Banner Ads
Foursquare’s co-founder and CEO Dennis Crowley spoke at PandoMonthly in New York and shared the key for his company’s monetization: specific discounts for specific customers. Crowley said that it’s taken a while to get to the point of monetizing the product, but that now is the right time. He had this to say regarding precision-based marketing: “You can build a big business making a lot of money off each user, not just amassing more users and showing dumb banner ads.” Crowley also shared that he considered selling the company but decided “it wasn’t the right move at the time.” (PandoDaily, TechCrunch)
