"Managing User-Generated Reviews" - Jed Nachman (Yelp) - 2009 AIM Conference

download "Managing User-Generated Reviews" - Jed Nachman (Yelp) - 2009 AIM Conference

of 23

  • date post

    27-Jan-2015
  • Category

    Technology

  • view

    104
  • download

    1

Embed Size (px)

description

Jed Nachman, Vice President of Sales at Yelp, presents on how companies can manage and benefits from user-generated reviews. He the presentation by reviewing the benefits and the downside to online reviews, and then moves onto to ways apartment operators and other industries can manage a significant amount of user-generated content.

Transcript of "Managing User-Generated Reviews" - Jed Nachman (Yelp) - 2009 AIM Conference

  • 1. The train has left the station Page

2. We started with user reviews in 2005PageConsumers value online reviews which is why every major site and local guide has them. 3. Page

  • 61% of searchers find reviews and ratings to be important on the local level
  • 92% of Internet users have researched a product or service online, then purchased offline from a local business at least once
  • Source:WebVisible and Nielsen//NetRatings Survey, September 2007

ROBO (research online buy offline) 4. PageOnline reviews second only to word of mouth inpurchase influence Source: Rubicon ConsultingInfluence of various sources of information on purchasing 5. Local search influences purchasing decisions PageThe web isnt just for ecommerce, 78% have researched a product or service online, only to make a purchase offline from a local business. 4% strongly disagree 55% somewhatagree 23% stronglyagree 18% somewhatdisagree Source:WebVisible and Nielsen//NetRatings Survey, September 2007 6. PageConsumers actively seeking local information 7. In Web Search the problem toomuchcontent in Local Search the problem is toolittlecontent. PageSources:Googles official blog, Yelp Index, Analyst Greg Sterling August 2008, Yelp analysis 8. It all starts with the your customers Pageyour customers readers reviews 9. Search engine optimization 10. Case study: chain store profiles on Yelp

    • Average Monthly Traffic & Reviews by Store
    • (24,000 customers last month)

11. 5 million local reviews and counting PageLocal Reviews (millions) Business Categories 12. Small businesses value online reviews 13. 85% of Yelp reviews are positive Page

  • Negative reviews play an important role too
    • A variety of experiences is consistent with real life
    • You cant please 100% of your customers 100% of the time

Distribution of All Reviews 14. You can bury your head in the sand Page 15. Or you can embrace the new reality Page 16. What not to do: argue with your customers Page

  • Your reviewers are your paying customers

I received the following PM from the owner of this place: 'dont eat out' I've never met you but after reading your review I don't want to. You seem boring and have none of the qualities I request in a human. If I was introduced to you on the street I guess I would say hi, nice to meet you, but I would not mean it

  • Your reviewers are human beings with (sometimes unpredictable) feelings and sensitivities
  • Your reviewers are vocal and opinionated (otherwise they would not be writing reviews!)

17. What to do: be authentic and friendly

  • Subject:Sorry about your visit with us...
  • Hello Jen,
  • I know there are no excuses for bad service... I am working hard at fixing our current problems. Thanks for the helpful review...most owners would never say that, but I need constructive input from our "real" customers. I don't know who the other reviewers are but I would hope it is how the people really feel about my business. I hope you give us another shot as I am in the process of getting more beers and better bartenders. Please feel free to contact me with any constructive input anytime.
  • Thanks
  • Bill XXXXXX(owner)
  • 415-283-6764

PageAh! You acknowledge upfront that I was in the right. Wow! You really care about what I thought and wrote. And you even made changes . This seems like a really thoughtful and pleasant business owner. Maybe I did just catch them on a bad day.. 18. Good customer service pays for itself PageAmount Consumers Willing to Spend for 5-Star Service October 12-18, 2007 Source: comScore, Inc./The Kelsey Group Service (Suggested Average Price) Excellent(5 Stars) Good (4 Stars) Lift Restaurant Meal ($20)$37.95$25.4449% Restaurant Meal ($50)$59.93$41.4045% Hotel ($100)$137.36$99.7338% Home ($250)$252.15$209.5020% Travel ($350)$366.72$299.8122% Legal ($60)$104.36$52.5199% Medical ($15)$29.67$23.5426% 19. Central dashboard 20. Privately message your customers. Its free. Page 21. PagePublicly comment on a review. New free feature. 22. Local search advertising Page 23. The opportunity

  • Be aware of all the places where your customers are talking about you online.
  • Read all of the feedback and look for trends
  • Engage in constructive conversation with your customers