Many merchants use Foursquare as a means to drive new customers in-store. Now, the social media site is offering better means for retailers to leverage its massive user base through a new paid advertising platform.

According to sources familiar with the project, Foursquare will enable advertisers to create special deals through a paid-media platform. These deals will show up as users search for them, helping retail merchants raise consumer awareness, AdvertisingAge reports.

While Foursquare didn't comment on the specific paid-media advertising platform, a company spokesperson did say the site is always looking to give brands new ways of engaging customers.

"Over 750,000 businesses use Foursquare to engage with their customers, and we're continually improving our offerings to make the platform even more powerful for them," the company explained. "Our goal is to build scalable self-service tools that enable businesses to draw in new customers and retain and reward their most loyal ones, while also enhancing the foursquare experience for our 20-million-strong community."

Walgreens has been a noted Foursquare user, offering flu shot donations for check-ins as well as discounted merchandise.

This entry was posted by Retail Pro on Sunday, April 29th, 2012 at 2:34 pm .