Interview Transcript

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What changed for Yelp to start considering moving away from SMBs to larger enterprise clients?

The challenge they're facing now is that the adoption of the Yelp app is decreasing. Time spent on the website and the app is also decreasing. Their audience is aging out. My 20-year-old daughter, 17-year-old son, and 13-year-old son don't know what Yelp is. The younger millennial audience isn't really using Yelp. Yelp isn't considered cool.

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I'm curious, why do large brands like McDonald's or Tim Hortons need Yelp for visibility?

Most of these large brands don't use Yelp for visibility or branding. Instead, they use it for performance lead generation.

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Let's say you decide to approach a large, national brand like Burger King. How do you decide to specifically approach them?

Much of the value proposition we provide for the enterprise group is aimed at businesses with a strong brick-and-mortar presence. This includes retail, restaurants, and even banks. For example, Sam's Club was a significant client. We made a deal with Walmart to get cars in their Walmart auto centers. Banks are interested in customers who physically walk into a branch to open a checking account, as these accounts are three times more valuable than those opened online and 10 times more likely to remain open.

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