drag2share: Yelp’s Local-Mobile Success Shows How Consumers Are Using Mobile To Drive Local Purchases
Yelp has become the bellwether for a location-based service, as well as the huge opportunity in local-mobile marketing.
It’s also often mentioned in connection with social-local-mobile strategies, sometimes known as SoLoMo.
Consumers also use the Yelp app as an integral step in the local purchase cycle. 93% of U.S. Yelp users in a recent Nielsen study said they at least occasionally make a purchase from a local business after using Yelp.
At BI Intelligence, Business Insider’s paid subscription service, we recently analyzed over 20 datasets culled from a variety of sources to probe the viability of mobile and social media as loca! l commer ce and retail-drivers. We published our insights in two recent reports, “A Guide to Local-Mobile Marketing: The Best Strategies And Tactics For Leveraging Local Data,” and “How Location-Based Data Is Transforming The Entire Mobile Industry.”
Subscribers also gain access to over 100 in-depth reports and hundreds of charts and datasets on mobile, social, and their impact across industries, including retail.
Local-mobile strategies are certainly working for Yelp, and the businesses that advertise on Yelp’s app and mobile site. Local advertisements on mobile devices constituted 40% of Yelp’s overall local ad inventory in the last quarter for which data’s available. That’s up from 25% just two quarters ago.
In the same period, Yelp’s mobile user base climbed to 10.4 million. Yelp is now in fierce competition with Google’s local services, as well as FourSquare, which is trying to become a local recommendations engine.
Here’s a look at growth in Yelp’s local advertising share, charted against the growth in revenue from local advertising.
Yelp’s mobile app users are engaged through local discovery and the ability to make on-the-! go reser vations and appointments. Some might even write reviews on their handheld devices. Yelp can harvest all that relevant user information while also pinpointing a user’s whereabouts.
As is the case with Google, the influx of mobile app users — and the increase in local ad inventory on mobile — have inflated Yelp’s overall local ad revenue.
35% of American adults often or sometimes watch streaming video through a subscription service such as Netflix of Hulu Plus, according to new survey results from Harris Interactive. For what it’s worth (and the comparison is a curious one), the same survey question finds that 23% of adults buy magazines at a physical place of purchase (such as a newsstand or bookstore) with that regularity. Comparisons aside, the researchers examine what streamers’ viewing habits look like, and whether channel surfing is a part of their behavior.
According to the results, streamed videos have a short amount of time to make an impact. Among those who sometimes or often watch streaming video through a subscription service:
- 70% agreed that they’re very picky about what they watch through a subscription streaming service;
- About 1 in 4 only give a video a few minutes to catch their interest before deciding whether to stop or continue watching, and another one-third only go one-quarter of the way before making their decision;
- 6 in 10 agree that checking out the beginnings of several videos is “the new channel surfing;”
Mar 6, 2013
Instagram has over 100 million users, but it doesn’t generate any revenue for Facebook. On the flip side, Shutterstock has over 22 million photos in its database and is a publicly traded company generating tons of revenue.
So, what’s Shutterstock doing differently than Facebook?
For starters, Shutterstock is a subscription service that relies on a secure approval process for its photos.
Shutterstock founder and CEO Jon Oringer talks to us about Shutterstock’s comprehensive approval process and what life is like as the leader of a publicly traded company:
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
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