I’ve previously commented that FourSquare hasn’t managed to become enough of a player in the rewards programs of major chains, leaving the ground-breaking application a little on the flat side of a robust loyalty-program enhancement. Well, finally, a major consumer-frequented chain has instituted something substantial in the way of FourSquare promotions…. Starbucks reportedly is now officially turning their FourSquare loyalty program into a bonafied, dividend-paying rewards system (albeit on “trial” basis) to provide actual guaranteed loyalty program rewards to those who frequent the coffee-house chain frequently enough to become “Mayor”.
While the program expuires on June 21st, both FourSquare and Starbucks reportedly think it could easily be extended thereafter. Is this the future of FourSquare? I think that this is the kind of use FourSquare needs to institute (read quickly institute) on it’s own to become a salable offering, or an IPO able to generate substantial sales of shares in the near future. Certainly it’s a step in the right direction for all involved, including the customers of Starbucks and the users of FourSquare. Kudos to Starbucks for taking the lead here. (Hint to FourSquare: shouldn’t you really have created a universal and fully customizable retailer loyalty program by now that retailers could opt into? And isn’t that a regrettable missed opportunity for FourSquare?).