Let that sink in for a minute. That’s $8,000 gained just by claiming their free business account on Yelp. Clearly, local businesses are benefiting from a Yelp halo effect that translates into very real profits.
Even more interesting, the survey revealed that Yelp advertisers benefit nearly three times as much, generating average annual revenues from Yelp of more than $23,000.
For certain categories, the returns were even higher. Breaking out the numbers, we saw a number of categories doing exceptionally well advertising to purchase-minded Yelpers:
Home -- $54,000*
Automotive -- $39,000*
Local services -- $36,000*
Hotel and travel -- $36,000*
Shopping -- $24,000*
Health & Medical -- $20,000*
* Average annual revenue from Yelp
Considering that our typical local advertiser spend is $4,200** annually, that’s a pretty good ROI for these savvy businesses."