Yelp unveils new features for national advertisers and multi-location businesses

Yelp, the San Francisco-based company known for connecting consumers with local businesses, yesterday announced its Summer Ad Product Release. This comprehensive update introduces a suite of new features and enhancements aimed at national advertisers and multi-location businesses.

The announcement marks a significant expansion of Yelp's offerings for larger businesses, potentially reshaping how these companies interact with the platform's user base of millions of consumers seeking local business information and services.

The centerpiece of Yelp's announcement is the introduction of Request a Quote for Brands. This feature, which has been available to local businesses since 2016, is now being extended to national and multi-location service businesses. Request a Quote for Brands allows these larger companies to tap into Yelp's high-intent consumer base, potentially generating more leads across their multiple locations.

One of the key technical aspects of this new feature is the Leads API. This application programming interface enables multi-location businesses to seamlessly integrate leads generated through Yelp into their existing customer management tools. By eliminating the need for manual lead management across multiple Yelp pages, the Leads API stands to significantly streamline operations for larger businesses.

To put the potential impact of this feature into context, it's worth considering the scale of Yelp's user base. According to Yelp's own statistics, the platform averages 44 million unique mobile app users and 72 million unique mobile web users per month. By providing national and multi-location businesses with easier access to this vast pool of potential customers, Yelp is positioning itself as a more attractive platform for larger advertisers.

Accompanying the Request a Quote for Brands feature is an expansion of Yelp Guaranteed to national service businesses. This program, which offers consumers up to $2,500 back if a project goes awry, is now available for eligible projects with national service businesses that advertise and activate Request a Quote. The extension of this guarantee to larger businesses could potentially increase consumer confidence when dealing with these companies through Yelp.

Yelp is also expanding its Verified License program and Portfolio feature to national service businesses. The Verified License program, initially launched in 2019, helps consumers identify businesses with valid trade licenses. The Portfolio feature allows businesses to showcase their work through photo collections. By making these features available to larger businesses, Yelp is providing them with additional tools to build trust and showcase their expertise to potential customers.

In addition to these service-focused updates, Yelp has also introduced several new advertising features aimed at national advertisers. One of these is an expansion of Spotlight Ads video placements. These video ads, which were originally launched in 2022 on Yelp's home feed, will now also appear within the Yelp business page photo grid. This expansion increases the potential reach of video ads on the platform, providing advertisers with more opportunities to engage Yelp users visually.

Another significant update is the expansion of Yelp Audiences to audio and connected TV (CTV) platforms. This move allows advertisers to reach Yelp users through streaming music platforms, podcasts, and CTV platforms like Hulu, Disney+, and Paramount+. By extending its reach beyond its own platform, Yelp is providing advertisers with new channels to engage potential customers.

The introduction of a new conversion API (CAPI) is perhaps one of the most technically significant aspects of this update. As the digital advertising industry prepares for a future without third-party cookies, tools like CAPI are becoming increasingly important. Yelp's CAPI allows advertisers to measure conversions from lead to transaction without relying on cookie signals. This feature not only provides more accurate measurement but also helps advertisers future-proof their measurement strategies.

To understand the importance of these updates, it's crucial to consider Yelp's position in the local search and review market. While Yelp faces competition from platforms like Google My Business and TripAdvisor, it has maintained a strong presence, particularly in certain categories like restaurants and home services.

The timing of these updates is also noteworthy. As businesses continue to recover from the impacts of the COVID-19 pandemic, many are looking for new ways to reach customers and drive growth. By introducing these features now, Yelp is positioning itself to capitalize on this renewed focus on customer acquisition and business expansion.

However, the success of these new features will depend on several factors. For the Request a Quote for Brands feature, adoption by national and multi-location businesses will be key. These companies will need to see a clear return on investment to justify integrating Yelp leads into their existing systems. The effectiveness of the Leads API in seamlessly delivering and managing these leads will be crucial in this regard.

For the new advertising features, success will likely be measured by advertiser adoption and the performance of these ads in terms of reach and conversions. The expansion to audio and CTV platforms represents a significant move for Yelp, and it will be interesting to see how advertisers leverage these new channels.

The introduction of the conversion API is particularly intriguing in the context of the broader shift away from third-party cookies. As more platforms and advertisers grapple with this change, solutions like Yelp's CAPI could become increasingly valuable. However, the effectiveness of this tool in accurately measuring conversions without cookies will be crucial to its success.

It's also worth considering the potential impact of these changes on Yelp's user experience. While the new features are primarily aimed at businesses and advertisers, they could also affect how consumers interact with the platform. For instance, the expansion of video ads to business page photo grids could make these pages more engaging for users, but it could also potentially be seen as intrusive if not implemented carefully.

In conclusion, Yelp's Summer Ad Product Release represents a significant expansion of the platform's offerings for national advertisers and multi-location businesses. By introducing features like Request a Quote for Brands and expanding its advertising options, Yelp is positioning itself to better serve larger businesses while potentially opening up new revenue streams.

As these new features roll out, it will be interesting to see how they impact Yelp's business, its advertisers, and its users. Will national and multi-location businesses embrace the new lead generation and management tools? How will advertisers leverage the new audio and CTV advertising options? And how will these changes affect the user experience on Yelp?

The answers to these questions will likely shape Yelp's strategy going forward and could have broader implications for the local search and digital advertising industries. As the digital landscape continues to evolve, platforms like Yelp will need to continue innovating to meet the changing needs of businesses and consumers alike.

Key facts

Yelp announced its Summer Ad Product Release on July 23, 2024.

Request a Quote for Brands extends lead generation features to national and multi-location businesses.

Yelp Guaranteed now covers eligible projects with national service businesses.

Verified License and Portfolio features are now available to national service businesses.

Spotlight Ads video placements have been expanded to business page photo grids.

Yelp Audiences now extends to audio and connected TV platforms.

A new conversion API has been introduced to measure ad performance without relying on cookies.

Yelp averaged 44 million unique mobile app users and 72 million unique mobile web users per month.