We are all aware that Geolocation is becoming big business for many mainstream businesses. If you cannot be found on Facebook Places, Foursquare or Gowalla you are behind the times. I understand Twitter is playing with the idea of utilizing their geolocation tags for business purposes. These services offer local businesses huge potential revenue streams, and the ability to offer locational discounts, vouchers and promotions by physically checking in at specific locations.

But what if you have a local business, servicing a specific location but you don’t have a physical location that clients or customers can check in at? Before you can claim a location on any of the above services, you have to specify a location, and you have to be able verify that you own that location. If you don’t have a store or an outlet people can visit, how can you utilize these services?

Unfortunately, I don’t have the answer. However, I am wondering whether there is an opportunity here to develop a new platform, or enhance the existing services that allows non-physical local businesses,  to participate in the geolocation buzz.

Geolocation is the identification of real world graphical location of computers, mobile devices and web site visitors connected to the Internet. Geolocation information can include Country, Region, City/Town, Postcode/Zipcode and latitude and longitute.

In the past couple of month two major players in the social networking arena have incorporating geolocation features and made this technology available to the end-user.

Last November Twitter introduced this feature for their mobile site as well their static web site. If you access Twitter from a mobile device not only are you tweets linked to your current location, but you can also view other users tweets that are in your surrounding location whether you follow them or not. The static Twitter web site allows users to add their location, and those tweets are also pinned to that location. You can read more at Twitter’s blog.

One of the most useful web sites I’ve seen to date that utilises this technology with a practical application is http://uksnow.benmarsh.co.uk. What Ben has done here is pull this information using a short hash tag and present peoples Tweets in a geographic layout plotting Tweeters who are reporting snow fall in real-time. I personally found this extremely useful in making decision whether to venture out or not. This real-time information far exceeds out dated, incorrect and national weather reports that simply where not local enough.

Last week we saw Google enter the social networking market with the launch of Google Buzz. Google Buzz can be access through your computer or mobile device and is pinned to your static location or uses the technology in your mobile device to pin-point your location much like Twitter when you are mobile.

So, what practical application does this new technology have for you and me other than the obvious? I’m sure we’ve all read the tweets or buzzes posted by our friends informing us what they’ve had for lunch. Now we will now where they’ve eaten lunch. But seriously this has mind blowing possibilities for marketing, real-time geographical information and practical application.

The possibilities are endless. For example, if you are a local business and you have a spontaneous promotion that you want local people know about it, tweeting and buzzing could be the answer in drawing people in. Perisable products that need to be sold at a discount is one example that springs to mind.

uksnow is an amazing example of this technology being put to practical use that incorporates real-time. Another idea is road traffic information: People reporting in real-time how traffic congestion, accidents and road works are hindering their journey and providing invaluable information to other road users.

I’m sure in the coming months their will be new web sites and applications being developed that incorporates this technology and providing real-time information. I wonder how long it will be before FaceBook jumps on board?