Yelp, the company that operates as a directory of local businesses and allows people to post reviews, is introducing new AI-powered updates that it says will help Canadian brands reach their audiences more effectively.
With the updates, the app’s feed will include additional visual content, such as promotional videos posted by companies and photo carousels featuring the brand’s products in the search section. Users will also be able to see recommendations based on other people’s most popular searches.
Yelp is also revamping its platform for advertisers, Yelp for Business, to incorporate new information on the performance of businesses and their competitors. This includes data on the neighborhoods where most consumers search for a particular business, trending search terms and comparisons of results between similar businesses. It is also providing a new support option that allows advertisers to communicate with Yelp’s customer service staff via scheduled consultations. With this option, advertisers will be able to request new AI-based quotations, which will “help business owners select the advertising option with the highest potential ROI,” according to the company.
Nicole Lund, the company’s director of local business product, tells MiC that “Canadian advertisers can benefit from Yelp by using our full-funnel advertising solutions and new updates to reach our high intent audiences at the moment of impact – when they’re ready to make a purchase.”
“Yelp is an effective advertising solution for businesses looking to build their brand or drive acquisition both on and off platform, whether local advertisers are using Yelp Ads (Yelp for Business section) to drive traffic to their page or national brands are leveraging Yelp Audiences (standalone platform) to reach targets across the web.”
The company had already been using AI to develop new features in its products. It recently launched a new tool that selects the best photos for company ads based on a number of variables that can attract customers and match their search intent. Accoding to chief technology officer Sam Eaton, “the photo selector tool for ads has resulted in a significant increase in click-through rates for advertisers, as well as decreases in cost-per-click across the board.”
The new updates come after the company released its Q3 2023 financial report, in which it shows a net revenue of $345 million, with $330 million coming from advertising.
According to a Yelp survey, 83% of people make a purchase within a week after visiting the app.
Launched in 2004, the app is available in Canada, the U.S., Brazil, Finland, Singapore, Japan, Malaysia, Germany and Sweden.
