A Review On Business Promotion

860 Words4 Pages

I. Introduction

We (and the rest of the internet for the past decade) have already become familiar with online review sites which are so important for business promotion. Suppose you run a business, wouldn’t it be great if you could get every buyer that walks into your small business to give you a recommendation? Customer endorsements are a strong kind of marketing and give a great return on marketing investment. A recommendation is more effective and highly potential to bring in new customers than an ad in a coupon clipper or yellow papers. Yelp is a typical website, one of the best places on the Internet for consumers to find a quality review.

II. Background on Technology

Born in 2004, Yelp.com is known as one
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Website achieves higher awareness and use (identification via parameters: unique visitors, traffic, user - interactions) may be transitioned to commercial exploitation. The form of the main business of this website is to exploit advertising from businesses; brand advertising; sale deal; user charges; or get a discount from businesses using the service. Then can proceed to expand the business model in a variety of ways, including two common ways it is the most common and issuing shares IPO and call for investment from individuals, organizations and financial funds.

III. Pros of Technology on Business

1. Approach new customers in a good way
An eMarketer Study in March 2011 found that the primary factor that influences US consumers to try a local business is a recommendation from a friend (52%) (Ruiz 2014). When faced with too many choices, people will rely on the “social proof” of what others think, and Yelp! is a perfect example of an online review site. If people read positive comments from many reviewers about a place on Yelp!, they will assume that the quality is good, and they may go to that place.

2. Lead to jump in revenues
Online consumer review websites provide more information to consumers than was previously thought to be cost-effective. By relying on user-generated content, Yelp! is able to review more products than traditional media such as newspaper reviews. A study by Michael Luca, a professor at Harvard Business
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