Shot #9 : 3 Keys to Yelp's Success
What was it that made Yelp take off even when there were tons of sites doing the same thing?
Hi there,
I took a day off on Tuesday (Janamashtami). So, did not send a shot that day.
About Yelp
It's a popular user reviews and recommendations site in the US for restaurants, shopping, nightlife, things to do, etc.
In 2012, Yelp got listed on the NYSE with a valuation of $900 million (approx.)
So, what was it that made Yelp take off even when there were tons of sites doing the same thing?
User Profiles
Yelp focused on building a network of reviewers with profiles and friends. This was key to Yelp’s growth because users are more likely to trust reviews from real people than anonymous internet strangers.
Gamification
People really like receiving recognition for their work. Yelp users earned different badges based on their contribution. Most engaged users were rewarded "elite" status for writing an in-depth review and were also invited for local meetups.
Users above business
While most of their competitors would bow to advertiser pressure to remove negative reviews, Yelp made it a point not to. Staying true to the users kept the their community engaged.
(Info Credits: Startup Growth Engines)
If you are building a product around the same idea, pay more attention to community building. Advertisers will follow.
Have any thoughts? Let me know on my twitter handle (click on the button below)
Or in comments (click on the button below)
Thanks,
Luv
(About Me)
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