It’s official, all the social networking sites have started adding “promoted” tweets/posts/places to your news feed. It’s no surprise considering that Twitter, with its “promoted tweets,” recently said it has a “truckload of money in the bank”.
Today Foursquare is launching its version of search ads, Promoted Updates.
Promoted Updates operate like Google’s promoted listings or Twitter’s promoted tweets. They are pay-per-action ad placements that only appear when a user is searching for a venue in Foursquare’s Explore tab.
Foursquare determines a user’s current location and check-in history before displaying a Promoted Update. The ads are powered by the same recommendation engine as its Explore feature. All of the paid placements will be clearly labeled at the top of the feed; they can include a store’s recent news, photos or specials.
Foursquare has partnered with about 20 merchants, from small mom and pop shops to national chains like Best Buy, to launch the pilot program. In the next few months, Foursquare hopes to turn Promoted Updates into a self-service tool merchants of all sizes can use on its platform.
Keep reading: Business Insider – Foursquare Launches Promoted Updates, Its Newest Effort To Generate Revenue