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Speed Dial: 60-Second Marketing Insight Newsletter
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The New Way to "Know Before You Go"- - Welcome to the World of
Yelp
What is Yelp? Until I read the February 2010 issue of
Inc, I wasn't aware of this growing
online phenomenon. But here's the scoop:
Yelp.com is a city-specific website where anyone can enter an
online review (1-5 stars, with commentary) in categories ranging from restaurants to nail salons to
churches. Want the dirt on that pet store, web designer, or window-washing company around the corner? It's
all here on Yelp, served up like a spicy sort of Zagat's-Angie's List-Facebook masala.
Yelp could be a social media fad or a power-to-the-customer phenomenon; no one knows
yet. Since its inception in 2004, Yelp has grown to 8 million online reviews from 26 million monthly
readers in 33 cities, and Inc. notes that it is arguably "the most popular reviews website in the
world."
What is Yelp? Now we have our answer... but is it going to change the way we do business?
The Disadvantages of Yelp: Too Much Power to the Crazies &
Malcontents?
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The Disadvantages of Yelp:
Are They A Real Threat?
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My initial reaction to Yelp was concern- - what's
to stop some half-witted twit or random hothead from slamming an innocent small business?
What's to prevent an unethical competitor (or your Mom and all her bowling buddies) from
posting bogus reviews? And how much time can an overburdened entrepreneur devote to
soothing unhappy customers online,
anyway?
Despite these
seeming disadvantages of Yelp, these types of issues are hardly new. There have always been
irrational customers & rule-breakers for businesses to work through. Yes, Yelp adds
a modern twist in both its immediacy & ability to reach a large group of
potential customers, but there are natural checks for
that: while the "social proof" of others' opinions can play a role in
decision-making, we seem to neutralize a few bad reviews in a sea of good ones by
"taking things with a grain of
salt."
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The Personal Touch Trumps the Anonymous
Review
My final thought is this: attracting new buyers is critical for
survival, and Yelp may eventually impact that to an as-of-yet undetermined degree. Nevertheless,
nurturing a core group of loyal, satisfied customers- - the ones who can be the most effective
evangelists for your product or service- - is far more important. After all, if my friend Chris raves
about a favorite restaurant, I don't care what some random stranger has to say on Yelp or anywhere
else; I trust Chris.
Let's watch what happens as Yelp continues to
expand. In the meantime, thanks for joining me today. See you
next Tuesday!
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