MARKETplace
Business intelligence
for appraisers
By Gregory Go
YOUR FINGERS CAN REST
honest reviews of local busi-
nesses from their peers. Honest,
reputable businesses love Yelp
because businesses that receive
positive reviews see dramatic
increases in referral customers.
STEP 1: Control your listing (and get
statistics). Yelp provides a business owner who
“unlocks” his or her page with plenty of value-added features, including messaging options
(e.g., post offers and announcements, reply to
reviewers) and statistics on how many people have
viewed his or her page.
The biggest benefit of taking control of your Yelp
page is being able to highlight positive reviews
of your business and/or responding to reviewers
privately. However, don’t think that just because
Yelp is willing to take your money it means they will
take down negative reviews of your business; they
Forget the Yellow Pages. Here are three
Web-based advertising venues you
should use instead.
THE PHONEBOOK IS SO 1998. Few
people use it anymore, and yet, advertising in the
phonebook has become more expensive as publishers seek to boost revenues. Don’t play their
game. Boost your advertising budget’s return
on investment by focusing your local marketing
efforts online.
The basic strategy for each of the following
three Web-based options is two-fold:
1. The first step — making sure you are listed
and have accurate information — is free for
all three of the following sites. It’s the equivalent to making sure your phone number and
address is accurate in the free, basic listing in
the phonebook.
2. The second step — buying advertising — is
equivalent to buying an ad in the phonebook.
Compared to phonebook advertising, though,
your Web-based ads will get more reach and
better tracking data, which helps ensure you
maximize your local advertising ROI.
won’t, unless a review violates review guidelines
(e.g., contains racial slurs or is second-hand information). As a good business owner, you should take
comfort in this policy, because it means your less
scrupulous competitors won’t be able to hide their
shady practices for long.
STEP 2: Buy advertising. Yelp offers two
advertising options for increasing your exposure:
■ Top placement in search results.
■ Showcasing your business on a similar
business’s page.
Pricing varies based on your city, business
category and number of impressions you want to
buy. To talk details and pricing with a Yelp sales
representative, fill out the form located at www.
yelp.com/business/advertising and wait for a call.
YELP
Yelp is the premier review site for local businesses. Consumers love it because it lets them
easily share their thoughts on local service
providers and retail outlets and, in return, get
GOOGLE LOCAL
When consumers search for a local business or a
local service (e.g., “Thai food” or “dry cleaner”)
on Google, a small map and some business results
appear at the top of the search results. Additionally,
consumers see a business-details page that can
contain information like your phone number, e-mail
address, store hours, accepted payment types, photos and videos, and service or product categories.
STEP 1: Take control of your listing (and get
statistics). Adding business details and creating
coupons is completely free on Google. To claim
your business at Google’s Local Business Center,
visit www.google.com/local/add. Once you’ve
verified your ownership, you can start adding
