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.

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.

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

11. 5 million local reviews and counting Page Local Reviews (millions) Business Categories

12. Small businesses value online reviews

14. You can bury your head in the sand… Page

15. Or you can embrace the new reality Page

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