One of the leading media and marketing companies in Latin America has been chosen by Foursquare as their exclusive advertising sales partner in the region.

Foursquare, a mobile app with more than 45 million users, picked IMS Internet Media Services (IMS) to help expand the "reach and scope" of Foursquare's advertising methods in new markets for 2014. IMS will assist Foursquare by allocating two sets of sales teams in Latin America's major markets, specifically Brazil and Mexico. The intent of utilizing IMS is to help advertisers connect consumers with Foursquare's products.

"One of the key goals for Foursquare in 2014 is to expand our advertising tools to additional markets worldwide, and we're glad to work with IMS to enter Latin America," said Foursquare's Chief Revenue Officer Steven Rosenblatt. "IMS has the experience, marketplace knowledge, and manpower to help us scale up operations quickly and efficiently. Brands already love using Foursquare to reach new customers in the United States and we have no doubt this will be the case in each new market we enter."

Foursquare is hoping its products allure brand marketers by acknowledging they will be charged on Cost-Per-Action basis, which is when a user interacts with an advertisement or checks in a specific venue within 72 hours of seeing the original advert. IMS is offering customized training programs for agencies or brand marketers who want to familiarize with the new formats in Latin America.

Foursquare is also banking on Latin America's Internet boom as the region has encountered a year-over-year growth as well as high mobile penetration. The International Data Corporation (IDC) stated the region's Internet users spend up to 10 hours per month on social media networks, which is twice as much compared to the average user worldwide. Smartphone adoption is expected to increase further with the 2014 FIFA World Cup and 2016 Summer Olympic Games, which may introduce new advertising opportunities for marketers across all industries.

"We're thrilled to partner with Foursquare, one of the most recognizable names in social today," said IMS' Chief Operating Officer (COO) Ignacio Vidaguren. "Foursquare enjoys tremendous popularity in the region, and many brands will benefit from the unique advertising opportunities to reach consumers that only Foursquare can offer."

IMS helped other social networks and mobile-based apps on increasing their scale, monetization, and navigation in Latin America. In 2012, Twitter selected IMS as its exclusive advertising sales partner in the region followed by Waze in 2013. IMS has also partnered with Netflix and Spotify in addition to over 150 agencies across the region. Although IMS is starting its partnership with Foursquare with offices in Brazil and Mexico, the media and marketing company also have offices in Miami, Argentina, Chile, Colombia, and Uruguay.

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