SMBs Putting More Money into Yelp
Earlier this year, Boston Consulting Group studied the digital marketing practices of small and medium size businesses (SMBs). The analysts concluded that SMBs can generate significant revenue from their investment in Yelp. A new study from Nielsen shows that courting Yelp users and their reviews is a solid strategy for marketers.
With 11 million users on its smartphone app and many more online consumers using the site on desktop computers, Yelp is a growing force. As Nielsen points out, Yelp users possess the qualities many marketers find attractive – youth, education, and a solid income. The audience also skews female. Yelp users also offer regular opinions about local businesses they have tried. After visiting Yelp and reading reviews, consumers are more likely to check out these local businesses – these encounters can include calling, visiting, and buying from an SMB. Over half of consumers who go to Yelp make a purchase decision “after visiting the site.”
According to Nielsen data, about 52% of Yelp visitors occasionally buy from a local business while 38% frequently do. This means marketers should be paying close attention to their business profile on Yelp and they should be encouraging their loyal clients to post reviews on the site to build their reputations and attract more visitors.
To learn more about Yelp users, check out the AudienceSCAN report available on the Research Store at ad-ology.com.[Sources: The Reviews Are In: Yelp Users are Four-Star Consumers. Nielsen.com. 27 Jun. 2013. Web. 11 Jul. 2013; Yelp Drives Real Revenue to Small Businesses. Yelp.com. 19 Mar. 2013. Web. 11 Jul. 2013]