Essay On Yelp
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Yelp Company will feature a number of revenue streams and explore marketing opportunities as described below;
The company is set to make money from revenue streams such as sponsored search, advertisements, apparel store and offers or deals. Sponsored search creates an income opportunity through traffic that it provides for local businesses (Yelp.com, 2015). Sponsored search enables local enterprises to qualify for Search Engine Results Page. The platform for banner ads allows businesses to reach out to potential customers. The ad platform is boosted by Yelp’s partnership with Monster and Zipcar. Yelp’s apparel store comes to help target customers who shop for apparels from the internet. Yelp intends to increase income through offers and deals with companies such as Groupon and Living Social (Team, 2014).
There is a large marketing opportunity for local businesses looking for platforms to sell their ads and get reviews for their operations. The company comes to take advantage of the obsolescence of Yellow Pages and present a new platform with efficient ad tools for local companies. The new application also comes to assist companies looking for ways to pin their top business rivals but utilizing the bad reviews that are posted on the platform. The reviews can be used to change consumer minds about a purchase they intended to make or recommend to another potential client (Firm-media.com, 2015). The Yelp application will perform well where benefits of the target customers are not delivered fast and efficiently (Kurlandski, 2013). In addition acknowledges the existing competition from Siri, search engines such as Google and mobile search but the stated opportunity will position it well in the market.
Firm-media.com,. (2015). Bad Yelp Reviews Create Opportunity for Businesses | Firm Media.
Kurlandski, M. (2013). Yelp fills in for Yellow Pages: The opportunity behind its success - Market Realist. Marketrealist.com.
Team, T. (2014). Yelp Earnings Preview: Revenue Growth From Local Ads, Mobile and DPO In Focus. Forbes.