There was a time when no matter where you went, you told the world about in on Foursquare. Well, maybe not you, but millions did. Then Facebook offered its check-in feature, and Foursquare became redundant. Just one more once-popular social app to suffer a precipitous fall from grace.

But, according to press reports, Foursquare refuses to go down without fighting. The firm has announced a major leadership shift. Co-founder Dennis Crowley will step down from CEO duties, handing those over to COO Jeff Glueck. Crowley will move into an executive chairman role. Steven Rosenblatt, a long-time (for social media anyway) Foursquare executive will become the company’s president.

Foursquare may have been a victim of its own success. Blasting onto the scene back in 2009, everyone loved telling everyone else where they were with a simple click or two. Users humble-bragged about concerts they were seeing, brunches they were having, and walks in the park or on the beach. They let everyone know who they were by sharing where they were.

The app became so popular that competitors Facebook and Instagram immediately began working on their own version. As soon as those launched, Foursquare began to see a drop in usage.

In an attempt to staunch the bleeding, Foursquare divided its services into two apps, one for restaurant reviews and the other for check-ins. Well, users saw that as a step backward. They already had plenty of ways to review restaurants, and they didn’t need a separate check-in app. Perhaps that’s why Foursquare’s most recent valuation was half what it had been at its zenith.

There are a few lessons here. First and foremost is this: consumers are fickle. If you are doing the something and someone else comes along doing the same thing, many will try the new thing just because. If you can’t find a way to offer more value or a better experience, then you can expect to get left as the consumer transitions to something considered both “new” and “better.”

It’s a constant reality of commercial life. If you are doing a good job at something people want to pay for, someone will come along and try to do it better … or, at least, different enough to steal some of your market share. So, here’s a question, both for you and for Foursquare: what is your unique value proposition, and how are you communicating that to your current and potential customers?

 

Read more from Ronn Torossian:

Ronn Torossian on Forbes
Ronn Torossian on SoundCloud
Ronn Torossian on LinkedIn
Ronn Torossian’s Professional Profile on Muck Rack
Ronn Torossian on Business Insider

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Ronn Torossian is the Founder & Chairman of 5W Public Relations, one of the largest independently owned PR firms in the United States. Since founding 5WPR in 2003, he has led the company's growth and vision, with the agency earning accolades including being named a Top 50 Global PR Agency by PRovoke Media, a top three NYC PR agency by O'Dwyers, one of Inc. Magazine's Best Workplaces and being awarded multiple American Business Awards, including a Stevie Award for PR Agency of the Year. With over 25 years of experience crafting and executing powerful narratives, Torossian is one of America's most prolific and well-respected public relations executives. Throughout his career he has advised leading and high-growth businesses, organizations, leaders and boards across corporate, technology and consumer industries. Torossian is known as one of the country's foremost experts on crisis communications. He has lectured on crisis PR at Harvard Business School, appears regularly in the media and has authored two editions of his book, "For Immediate Release: Shape Minds, Build Brands, and Deliver Results With Game-Changing Public Relations," which is an industry best-seller. Torossian's strategic, resourceful approach has been recognized with numerous awards including being named the Stevie American Business Awards Entrepreneur of the Year, the American Business Awards PR Executive of the Year, twice over, an Ernst & Young Entrepreneur of the Year semi-finalist, a Top Crisis Communications Professional by Business Insider, Metropolitan Magazine's Most Influential New Yorker, and a recipient of Crain's New York Most Notable in Marketing & PR. Outside of 5W, Torossian serves as a business advisor to and investor in multiple early stage businesses across the media, B2B and B2C landscape. Torossian is the proud father of two daughters. He is an active member of the Young Presidents Organization (YPO) and a board member of multiple not for profit organizations.