Location Based Services to Take in over $4 Billion This Year

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Local Business Review Site 5StarControl proclaims their opinion on a new study which states that revenue for location based marketers and mobile services will surpass $4 billion in 2012.

5StarControl has disclosed secrets about a new report from business analysts Visiongain, which states that revenue from location-based services will reach new heights this year, and continue to increase in following years.

Local Business Review Site 5StarControl wrote that local businesses are going to be entranced by the analysis from Visiongain, which reports that location-based services such as Facebook local pages and Foursquare are set to bring in more than $4 billion in revenue this year, with significant growth on the horizon for the next five years.

The report highlighted by Mobile Marketer, “Location Based Services 2012-2017: Monetizing Opportunities and Challenges” was published by the British information services and consulting company Visiongain. Visiongain was founded in 1998, and is a company dedicated to remaining neutral and unaffiliated with any of the subjects of its research. In addition to researching various business sectors and trends, the company also offers consulting services and organizes conferences on various topics pertaining to the world of international business.

One of the companies which is benefiting from the rise in location-based revenue is the local search and check in service, Foursquare. The New York based company was founded in 2009, and allows users to search for various local businesses through mobile devices and then check in at them, informing their friends of their current location. Foursquare is also a method of local business online marketing, as businesses can offer specials for customers who check in at their establishment through Foursquare.

Facebook is the reigning king of online social media networks, with more than 950 million user profiles and over 10 million business pages. Facebook was founded in 2004, as has become a daily destination for millions of people worldwide. On Facebook, people can connect with their friends and share thoughts, photos, links, and videos with other people they know. Businesses can also have a Facebook page, where they can post information and interact directly with their customers. Facebook also features a local check in component similar to Foursquare’s, with users able to share their current location and post information about it to their friends’ news feeds.

The Visiongain report underscores the growth of location-based businesses and advertising. As more and more people access the internet through smartphones and mobile devices, the online local business market will continue to grow, according to the report. 5StarControl directs its readers to the work of internet media guru Frank Kern for more information on local business marketing. Businesses will have to increasingly look to location-based services in order to properly position themselves and market their products as the sector continues to expand.

5StarControl is a website on local business news about online reputation management.

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