As of Dec 31, 2018, Yelp has a total of 177.4 million reviews of local businesses.It also generates almost all of its revenue from advertisements like for example in the year of 2011, 91.4% of its revenue came from advertising….Transaction revenue.

Yelp’s annual net revenue 2007-2020 In 2020, the revenue generated by local business review platform Yelp amounted to over 872.9 million U.S. dollars, a significant drop from the 1.01 billion U.S. dollars in the previous year. Yelp’s business was severely impacted by the global COVID-19 outbreak.

Yelp for Business is free at the most basic level, but there are paid options if you want more features. Let’s take a closer look at the costs involved. Free Tools: The basic concept behind the free tools is that you can claim your business and establish a greater presence through Yelp.

Yelp makes money by selling targeted ads to businesses on its platform, commissions from partnerships, and subscription revenue from service tools. Founded in 2004 and headquartered in San Francisco, California, Yelp has grown to become one of the world’s leading online review sites.

Benefits

• Traffic. Good reviews on Yelp can help increase your clientele base, attracting new customers to your business based off the good word.
• Ease of Use.
• Trustworthy Reviews.
• Easy to Find and Reach You.
• Credibility.
• Paid Presence on Yelp requires a long-term commitment.
• Filtered Reviews.
• Lead Inflation.

Features

Yelp’s business has been negatively impacted as a large number of local businesses and restaurants are struggling due to the pandemic. Between January 31st and March 31st, Yelp stock has lost 48% of its value (vs. about a 23% decline in the S&P 500).

In the US, 41.9% of Yelp users are in the 18-34 age demographic. More than 37% are 35-54 years of age, with 19.9% being over the age of 55. 60.2% of Yelp users have at least some level of college education.

As you can see again, Google continues to edge out more and more of the online review competition. Google’s average star rating is 4.3 whereas Yelp holds a measly 3.65. The ReviewTrackers report attributes much of this to ease of use: “What Google and Facebook have going for them: people are always on those sites.

Google Reviews Don’t Get Filtered Like Yelp Reviews Yelp loves filtering out reviews that they don’t think are real, honest, and legitimate, but a lot of real reviews get chucked out too. You won’t have that problem on Google. Google doesn’t remove a lot of reviews, for better or for worse.

A lot more people write yelp reviews than Google reviews. So people read more yelp reviews because there are a lot more of them. Also Google isn’t known for it’s review base, whereas Yelp is infamous for its massive collection of user generated content.

Of all of the Yelp statistics to know, this one might be the most important: Yelp has 73 million unique monthly users on their mobile app, and over 100 million unique monthly users on their desktop site.

Recent research suggests that reviews found on social networks and review sites like Yelp may not be as reliable as people think. According to this study, roughly 20% of restaurant reviews (positive and negative) are fake.

Yelp only gets about 178 million unique monthly visitors, across both desktop and mobile, so if it’s reach you’re looking for, Google is the better option. However, Yelp certainly has its advantages in this category — especially with regards to user intent.

Google tried to buy Yelp in 2009, but the deal fell apart. And so the larger company built out its own local business reviews, and today it promotes those above content from Yelp, TripAdvisor, or other competitors.

Is Yelp still relevant in 2020? The numbers show it still is. Yelp averages more than 178 million unique visitors every month across its mobile, desktop, and app versions. It also generates 28 million monthly mobile app unique users.

Yelp brings in 38 million unique mobile app users every month, and 91.3 million via its website. While Google does not reveal exact search numbers, last year, it did announce that monthly active users on Android have crossed the 2.5 billion mark.

Yelp data show that online business profiles with images have much higher engagement than those without. The survey also argues that TripAdvisor reviews are more accurate and trusted than those from other sites. The results, as might be expected, skew very heavily in TripAdvisor’s favor.

These days’ customers make their feelings known on public review sites like Yelp. Fortunately, the days of handling customer feedback via Yelp are over. That’s right. Yelp is dead.