Foursquare and American Express announced a deal today wherein rewards and incentives will get even better. Users will be able to sync their Foursquare and AmEx accounts where they will receive exclusive discounts and saving at specified locations. For example, shoppers who check in on Foursquare at H&M will recieve a $10 credit to their AmEx account when they spend $75. If you spend $50 at Sports Authority, you will receive a $20 reward. This partnership has great potential and has already created a buzz after an initial test at SXSW back in March involving a “spend $5, get $5” deal.
If used properly, this type of partnership could have big implications on professional sports teams and their use of location-based apps such as Foursquare, Gowalla, or Whrrl. After a proper sync with a team and/or league, there are many possibilities to leverage this type of relationship.
- Season-Ticket holders receiving credits to an account for every check-in at the game, redeemable at the game or for future ticket purchases with the team (and who wouldn’t want to be the ‘mayor’ of Yankee Stadium?)
- “Booth of the night” – One sponsor/vendor’s booth is pre-determined by the team each game, and the first fan to check-in at said booth wins credit to store and a shout-out with sponsor on stadium scoreboard (Ex: $25 to Jimmy’s BBQ.)
Out of Stadium
- Every fan check-in at a team’s sponsor leads to money redeemable at the stadium (Ex: St.Louis Rams fan checks in at U.S. Bank, receives $10 to spend at Edward Jones Dome.)
- Every fan check-in at a league’s sponsor will allow them to receive cash back if they pay with league’s credit card (Ex: NFL-Visa, NBA-American Express, MLB-Mastercard.)
This American Express/Foursquare is only the tip of the iceberg, but I think it is safe to assume that location-based apps are here to stay, and it will be exciting to see how they can be integrated into sports business.