Mike Hickinbotham

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Case study shows how Yelp.com ratings can lead to 9% revenue increase

January 9, 2012 by Mike Hickinbotham Leave a Comment

When seeking senior management approval for a social media based marketing strategy, case studies are usually a ‘must have’ to help turn your strategy into a commercial reality.

Matching form and substance is tough to do (image credit: Carlos Porto)

In a working paper titled ‘Reviews, Reputation, and Revenue: The Case of Yelp.com’ the author Michael Luca, an assistant professor of business administration at Harvard Business School, states “a one-star increase in (a) Yelp rating lead(s) to a 5-9 percent increase in revenue”.

While the headline stat of a ‘5-9% increase in revenue’ directly relevant to the restaurant industry, here’s a couple of industry-agnostic insights that could be relevant as you work to get your social media strategy across the line.

[Read more…]

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Filed Under: Platform, Proposition, Purpose Tagged With: brand, form and substance, Harvard Business School, Michael Luca, ratings and reviews, reputation, restaurants, Sensis, social media, Telstra, yelp.com

About me …

I am formerly the Head of Social Media at the Westpac Group and the Head of New Media at Telstra (Chief Marketing Office). I'm working with agencies and businesses seeking to leverage Social Media as a channel to support consumers along their path to purchase / conversion.

I can be reached at mike at socialcorp.com.au.

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