Welcome back to the Privy weekly roundup! Let's jump right in!
Nielsen Study Says 89% of Yelpers Buy within a Week of Site Visit
Yelp is making moves once again, adding features designed to give advertisers better understanding of the ROI they're seeing from Yelp ads. For example, they've added a Call-to-Action feature which allows advertisers promote a desired transaction of their choosing directly on their Yelp business listing, such as 'reserve a table' or 'place your order.' They have also commissioned research from Nielsen which shows that 4 out 5 Yelp users buy within a week of checking a listing, and the same number of users visit Yelp before making a purchase. While the research was conducted amongst Yelp users and as a result, shows their behavior as opposed to consumers-at-large, the report (infographic) certainly makes the case for advertising on Yelp.
Top Brands Are Loving Instagram Video
Instagram's new video capabilities are scoring great marks with big brands as more than twice as many top 100 brands are using it over the video-centered social app Vine. As we discussed in our 3-part series on hashtags, more and more brands are using Instagram as a platform for creating and publishing content that gets users engaged with their brands in a tangible way. With the release of Instagram Video (and growing popularity of video sharing) brands are seeing it as an especially viable outlet for pushing content to Instagram's 130 million users and Facebook's (their parent company) 1 billion-strong user-base.
How Restaurants Can Power Up Loyalty Strategy
Gamification of a platform is a strategy that has worked to increase engagement for brands across numerous industries, but restaurants have recently taken to it as a framework for their loyalty programs, incentivizing users to engage with their loyalty efforts, which in turn drive them back into the restaurants to earn rewards and 'win the game.' One key insight is that beyond simplicity and ease, the rewards should go beyond simple discounts if they really want to engage the customer. For example, sneak previews of upcoming menu items, merchandise, and even sweepstakes-level rewards, like tickets to a local sporting event can engage customers in a lasting way. The article can be found here.
A Revolutionary Marketing Strategy: Answer Customers' Questions
(via New York Times)
This article is very insightful for SMB owner operators because so many of them rely on traditional marketing and operations strategies rather than starting from scratch - and what makes sense. Marcus Sheridan, who runs River Pools and Spas, began by thinking about how he uses the internet for information, and put himself in the shoes of an average customer. When people are looking into pool installation, their first question is always "what does it cost?" While many companies in his industry shy away from the question so that they can upsell customers in person, he took the high road, writing a blog post about the range of costs for a fiberglass pool, which resulted in a great deal of business for him. He went on to write blogs posts about the top pool installation companies in his area (essentially, his competition) and didn't mention his own company in the roundup. He says including River Pools and Spas in the list would have lost him all his credibility. The key takeaway: sometimes marketing should focus on informing the customer about the product, not the company selling it. Approach your marketing strategy from the perspective of your customer. They'll relate to you, and more often than not, they'll end up buying from you because they trust you.
That's it for this week. Check back in every Friday for a roundup of what's happening in the worlds of restaurants, marketing, and technology. Alternatively, you can get this roundup delivered to your inbox every week by signing up below!