According to a Yelp-commissioned study conducted by Survey Monkey, almost all online adult users are ready to buy services or products from the local businesses that they discover on Yelp. The survey shows that around about 97% of adult users conduct some sort of transaction with the businesses they find on Yelp.
This survey of over 6,000 adults, is actually a follow up of the study conducted by Nielsen in 2012 and 2016. The figures derived from the 2016 study showed that:
92% of online adults conducted a transaction after visiting Yelp “at least sometimes, frequently or almost always”.
42% of respondents claimed that they made a purchase within 24 hrs and 79% made a purchase within a week.
The 2019 Survey Shows High Purchase Intent
The figures found in the 2019 survey show considerable growth in Yelp’s influence, as more than half i.e. 51% users claim to transact within 24 hours of visiting a site and close to 90% admit to doing so within a week. It also revealed that 93% of Yelp users compare businesses before making any buying decisions.
Yelp claims that both the 2016 and 2019 studies show that Yelp is the “most influential and trustworthy” site when it comes to finding local businesses as compared to “Google, Facebook, TripAdvisor and Home Advisor”.
Users Look For More Than Reviews While Comparing Businesses
Although Google has more reviews than Facebook and Yelp, respondents appreciate the other factors, beyond reviews, that they can take into consideration when comparing and evaluating local businesses on Yelp.
75% cared about seeing a business or trade license that a business has
71% cared about the ability to request price estimates online
69% cared about seeing the pictures and costs of previously completed projects
58% cared about knowing the unique characteristics of a business like being open late or being family-owned
At the end of the day, even though the survey responses do give an indication of the user preferences, it may not be the actual user behavior. However, according to an individual study conducted by FreshChalk Yelp does appear in the top 5 results of 92% of the local business searches on Google. This makes Yelp a critical directory for ranking. The company is also set to roll out new products and features this year, in an effort to differentiate from Google and to diversify revenues.