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What weve learned about WOM

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Yelp backgrounder (the $0.25 version) What we've learned about WOM. Agenda. Page 3. Yelp: Local Search, powered by Community. Yelp started with user reviews in 2005 ... – PowerPoint PPT presentation

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Title: What weve learned about WOM


1
What weve learned about WOM WOMM-U May 2009
2
Agenda
  • Yelp backgrounder (the 0.25 version)
  • What weve learned about WOM

3
Yelp Local Search, powered by Community
4
Yelp started with user reviews in 2005
Consumers value online reviews
which is why every major site and local guide
has them.
5
6 million local reviews and counting
Local Reviews (millions)
Business Categories (reviewed businesses)
Page 5
6
21 million consumers looking for businesses
Monthly Unique Visitors
Source Google Analytics
7
FREE business owner accounts
8
How we make money local search ads
9
Why a national brand should care
Example National Retailer
10
Agenda
  • Yelp backgrounder (the 0.25 version)
  • What weve learned about WOM

11
Lesson 1 When the consumer wins, the business
wins
  • 249 is just a bit less than 1200

12
Lesson 2 We all have a love/hate relationship
with reviews
  • I took the logo off my vans

13
Lesson 3 Nothing sells better than great WOM
  • it sells itself

14
Lesson 4 WOM requires thick skin
  • the guy at the door (read giant, useless turd
    in a suit)

15
Lesson 5 The temptation to spam is strong
  • however you have to maneuver the system

16
Lesson 6 The manufactured reputation usually
backfires
  • buyer beware dont trust these reviews

17
Lesson 7 Negative WOM can be good for business
  • WAY too serious about the coffee

18
Lesson 8 Its worth engaging your vocal
customers gently
  • the customer is the most valuable person

19
Parting thoughts about WOM
  • The genie is out of the bottle
  • Youre better off joining the conversation than
    not
  • Choose your ambassador(s) carefully
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