Yelp Serving Up Business Metrics
One of the biggest beefs that executives have with social media is the wishy-washy answer they get when the question of metrics and return on investment comes up. However, in recent years, there have been proven ways to track a brand's use of social media and tie it back to sales.
Now that the mobile world is mashing up with social media, the same questions about metrics are being dredged up. However, there, movement to deliver on ROI promises is happening quicker.
Case in point: Yelp, who yesterday announced that they would be providing business owners with free mobile metrics that includes data on mobile check-ins.
The additional metrics will be sent to business owners in a weekly newsletter called "Your Business on Yelp," which business owners receive every Tuesday.
The type of metrics that will be included are basically all user activities taking place in Yelp Mobile apps. The data has the potential to be very useful for business users, given the fact that 27% of all Yelp searches happen from within the Yelp iPhone app.
Additional metrics that business owners will receive include, the number of times their business is viewed via a Yelp mobile app; how many calls were made to their business via a Yelp mobile app; directions to their business requested via a Yelp mobile app; and, of course, check-ins.
Yelp's move keeps them on pace with Foursquare, which also provides a business dashboard which has the ability to review check-in data.
The competition between the two leading location based services is a good thing, especially for business owners, who will pore over real-time data and analytics in order to find juicy nuggets that can help them outpace the competition.
For now, Yelp business owners can only receive mobile metrics via the weekly newsletter. However, the company plans to add them to the Yelp for Business Owners suite of tools.