Are You Ready to Drink the 'LBS' Kool Aid?

So I finally signed up for Foursquare!

On January 21st, Foursquare FINALLY introduced its Blackberry application. Previously it was not available in Canada, and only available for iPhone and Android users. I know, I know – I am probably the last person in the technology industry that doesn’t have an iPhone. (But that is a $600.00 matter between Bell and I, which is a story for a whole other post!)

In July of 2009, I wrote a blog post asking could foursquare be the next Twitter? Social Media Platforms definitely come and go and their ‘cool factor’ fades - can you say MySpace? Having my mother, and grandmother, as friends on Facebook and having my local news anchor asking me to follow him on Twitter is definitely chipping away at the ‘cool factor’ of these platforms as well.

But is Foursquare the wave of the future?

Foursquare is based on Location-Based Social Networking (LBS), which uses GPS technology to tie your message to your location. Therefore you can “check in” at a location to complete online activities and see what people are saying in the vicinity, via Twitter integration. The person that “checks in” the most can become the mayor of that location.

Now I must admit there is definitely some hesitation for using this service:

• Do I really want everyone to know where I am and what I am saying?
• If I already participate in - Facebook, LinkedIn, Meetup, Twitter … do I really have time for one more Social Media Platform?
• Does this platform hold any business value … or is it purely for entertainment?

Popularity is definitely growing in the LBS arena through both Foursquare and Gowalla, but not everyone is there yet! But like most Social Networking Platforms, you sign up to be “social” and become part of the conversation. You want to participate where your friends and peers are participating.

One of the downfalls of being the first in the pool is that your current friends aren’t there yet.

Therefore you have 2 options:

• You can meet new friends in this network.
• You can let your current friends know what you are doing … and get them engaged!

Like I stated earlier “I have finally signed up for Foursquare” and I will give it a try and let know my thoughts on it. But at the end of the day - I still have some hesitations and I guess I am not ready to blindly ‘Drink the Kool Aid’ quite yet!