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

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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 …

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.

Published in: Technology, Business

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  • Transcript

    • 1. The train has left the station… Page
    • 2. We started with user reviews in 2005 Page Consumers 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. Page Online reviews second only to word of mouth in purchase influence Source: Rubicon Consulting Influence of various sources of information on purchasing
    • 5. Local search influences purchasing decisions Page The web isn’t 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% somewhat agree 23% strongly agree 18% somewhat disagree Source: WebVisible and Nielsen//NetRatings Survey, September 2007
    • 6. Page Consumers actively seeking local information
    • 7. In Web Search the problem too much content… in Local Search the problem is too little content. Page Sources: Google’s official blog, Yelp Index, Analyst Greg Sterling August 2008, Yelp analysis
    • 8. It all starts with the your customers Page your 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 Page Local 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 can’t 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
      Page Ah! 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 Page Amount 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 $25.44 49%   Restaurant Meal ($50) $59.93 $41.40 45%   Hotel ($100) $137.36 $99.73 38%   Home ($250) $252.15 $209.50 20%   Travel ($350) $366.72 $299.81 22%   Legal ($60) $104.36 $52.51 99%   Medical ($15) $29.67 $23.54 26%
    • 19. Central dashboard
    • 20. Privately message your customers. It’s free. Page
    • 21. Page Publicly 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

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