Case study shows how Yelp.com ratings can lead to 9% revenue increase

When seeking senior management approval for a social media based marketing strategy, case studies are usually a ‘must have’ to help turn your strategy into a commercial reality.

In a working paper titled ‘Reviews, Reputation, and Revenue: The Case of Yelp.com’ the author Michael Luca, an assistant professor of business administration at Harvard Business School, states “a one-star increase in (a) Yelp rating lead(s) to a 5-9 percent increase in revenue”.

How Australian brands can produce better social media content

Jeremiah Owyang recently published a post that states the audience needs are changing.  They want ‘faster, smaller and social’.

For better or for worst, mainstream Australian social media is concentrated within Facebook and Twitter.  With Australian audiences being exposed to so much content, from so many different sources, brands are under constant pressure to publish content that will earn the ongoing attention of their target consumers.

How can brand advocates guide businesses through the new media maze?

New media is providing corporations the opportunity to reassess commonly accepted marketing practices.  At the top of my list is the marketing/purchase funnel.According to Wikipedia, the marketing/purchase funnel was developed in 1898.  The marketing/purchase funnel suggests to marketers that a customer gets pushed along a purchase path that starts at ‘awareness’ and ends at ‘purchase’.…