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Is Yelp’s effect on bottom line worth the legal wrangling?

For small businesses, having a presence on review site Yelp can be a daunting experience, particularly in light of news stories regarding fake reviews and even defamation claims.

Merchant Warehouse’s recent research found that, despite 93% of consumers who use Yelp going on to make a purchase with a company they researched on the review site, a whopping 87% of small businesses don’t actively use such sites. Furthermore, 22% of those small businesses that do have a presence on Yelp have never bothered to check out their pages.

Those businesses could be seriously undermining their bottom line. The results of a Boston Consulting Group survey of 4,800 business owners earlier this year (March 2013), illustrated in Merchant Warehouse’s infographic, found that small businesses with a free Yelp business owner’s account saw an average increase in annual revenue of $8,000.

Merchant Warehouse concludes by saying that “review sites like Yelp pose big growth opportunities for small businesses that use them strategically” adding that, with the great demand for consumers for online review sites, having a presence on such sites allows consumer interaction and increases brand awareness.

What do you think? Is a presence on Yelp worth the potential for legal wrangling?

Image via Shutterstock

Tags: consumer reviews, online reviews, review sites, social media, Yelp

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Mystic Maggie

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