As I’m sure many of you are aware, Foursquare has undoubtedly changed my excursions around London forever, as well as, more importantly, changing the social media game. For those of you who don’t know, Foursquare is a location based game, which rewards users points for places you visit, and incentivises users with a mayorship title if you visit often enough.

With the tiresome threat of ‘Quit Facebook Day’ and the disturbing Justin Bieber phenomenon on Twitter - Foursquare seems like a safe social media bet to get yourself involved with.

I have been driving everyone around me insane about how Foursquare is going to change the world and the way we live, interact and consume goods. Now, at long last, I am relieved that companies are taking note, like Starbucks and Domino’s. For example, in the UK, Domino’s are now offering free food to those who become mayors of their premises.

When you think about the promotion on a deeper level it is a very worthwhile and lucrative concept. Domino’s key target market use Foursquare (like myself!), this cuts back on delivery costs and encourages competition and more visits so people can obtain the ultimate prize of the mayorship badge.

But not everyone is excited about the location-based marketing. According to Time Magazine Foursquare is not only ‘narcissistic’ and the ‘next generation of creepy social networking’ but one of the ‘worlds bright ideas that just didn’t work out’. Despite hesitance and criticism, businesses, small and big want to experiment with geomarketing.

Location based social networks like Facebook, Gowalla, My Town and Loopt are clearly picking up on this commercial potential. McDonalds will be the first marketer to use Facebook’s upcoming geolocation feature and Gowalla have teamed up with InterContinental to connect with guests when they check into a property.

There are many ways to take advantage of Foursquare’s evolving platform for developers or businesses - for example creating your own badge or offering location-based promotions.

Drop a tweet to @Brandmovers_uk for information on this potential monetisation model.