Yeah I tried that for a while and it worked pretty well.

I used to set an hourly double beep on my phone throughout the day, then at night (from about 6:00AM) have it go off every half hour and every time it went off I would reality check (when it went off in the day not when I was asleep obviously).
It wasn't enough to wake me up but on quite a few occasions I would be in a normal dream, hear the beep, reality check thinking I was awake and then realise I wasn't and become lucid.

After a while though I pretty much stopped hearing the beeps in my sleep (I think because I got used to hearing it).
Also I stopped doing it because I was getting lucid a lot of the time anyway and sometimes I would be in a really stable lucid, hear the beeps go off and think oh s**t don't wake up, then I would wake up and lose the dream.

But it's worth doing for a while at least.