by STEVE MICHEALS on 1 NOV 2010
We know that only FaceBook has over 500+ million users in US and worldwide. As days are passing more and more people are joining other social networking sites similar to FaceBook. It is directly impacting the present and future of the local commerce. This means that people from 50+ states across the US will be going online from offline to buy things from local stores, restaurants and shopping malls.
2. FourSquare – FourSquare provides location based services and check ins. Many games applications facilitate users to earn points and get discounts at local stores when they redeem their coupons.
We know that only FaceBook has over 500+ million users in US and worldwide. As days are passing more and more people are joining other social networking sites similar to FaceBook. It is directly impacting the present and future of the local commerce. This means that people from 50+ states across the US will be going online from offline to buy things from local stores, restaurants and shopping malls.
Apart from FaceBook people also use location based service like FourSquare, local review website Yelp.com and the Groupon.com a website that features deals on the best stuff. In future FaceBook will grow upto $30 billion, Foursquare will worth about $115 million, yelp will reach $550 million and finally Groupon will raise $1.5 billion in revenue. So writing is on the wall, all these companies will generate their large share of revenue online through mobile services.
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| (Social Graph) |
This works very simple. He or she will launch an application from the mobile app and choose best deals in his or her local area after reading the reviews and buy the coupon (group buying with friends) in a single click. Later he or she can go to any local store or shopping mall with that coupon and redeem it. Below I explain what each of these companies has something special.
1. FaceBook – Social graph application from FaceBook is the fastest growing service. I personally use this to share my views among friends online and on mobile every single day. This feature is easy to use and you can reach out to your friends very quickly.
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| (FourSquare) |
2. FourSquare – FourSquare provides location based services and check ins. Many games applications facilitate users to earn points and get discounts at local stores when they redeem their coupons.
3. Groupon – Groupon offers discounted deals. Just check your Email, FaceBook or Twitter for deals on local businesses. You can pass deals by email or social networks to your friends. Then print the voucher or bring your mobile device and present it at local store to get your deal.
4. Yelp – Yelp provides reviews of local businesses. From shopping to pets, food to real estate, entertainment to education, Yelp will give you best analysis. Now it also offers check-ins service.
Hence all these companies will be looking to enhance their features to tap their potential customers who want to buy things online while they are on the go.
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