Marketing Pilgrim's Reputation Channel

Marketing Pilgrim's Reputation Channel is sponsored by Trackur.

Can Yelp reviews predict restaurant closures? Researchers say yes

closed-out-of-businessResearchers at the University of Maryland’s Robert H. Smith School of Business say they can use Yelp reviews to predict a restaurants chance of success or failure. I know what you’re thinking, it doesn’t take a mathematician or linguistics expert to know that a restaurant with bad reviews is going to close down sooner than later. But there’s more to this story.

The researchers analyzed Yelp reviews for 2000 open restaurants in Washington DC and 450 restaurants that had closed in the past few years. That gave them more than 130,000 reviews with a total of 15 million words.

They then used a text reader to scan and flag certain words in several different buckets.

For example;

Yelp Restaurant Review Table

Join Andy Beal for an exclusive one-day reputation management masterclass

Repped AcademyWhen you attend a 3-day conference, how much do you really¬†learn about a single topic? Enough to make you dangerous, if you’re lucky!

While conference sessions are a great intro to a topic, even a 30 minute session only scratches the surface of a meaty topic such as online reputation management. That’s why I’m holding a 1-day reputation management workshop in Raleigh, NC on January 21st.

The workshop will allow me to cover reputation management in such depth you’ll walk away knowing just about everything I know on the subject!

During this one day masterclass you’ll learn:

  • Understanding your audience and building a profitable brand.
  • Optimizing social media profiles for maximum engagement and conversions.
  • Proven tips for creating content that will amaze your audience‚Ķand Google!

Groupon pivots with the rollout of Pages

Where do you go if you want to get the real scoop on local businesses? Yelp? Angie’s List? Groupon?

Groupon just announced the launch of 7 million new merchant listings called Pages; “making Groupon the first place to go for ratings, tips, money-saving opportunities and other useful information for local businesses in the United States.”

I don’t know about the “first place” part, but it’s a nice try.

This is the merchant page for Adventura. It’s cleaner than the Yelp page and the long, Groupon header makes it easier to focus when you hit the page.

Groupon Pages

Right underneath this section is Groupon’s not-so-secret marketing weapon:

A delightful conversation with Andy Beal about online reputation management

Online Reputation Management discussionHow did I get involved in the online reputation management space?

What can you expect from my upcoming talk at Internet Summit in Raleigh?

How do you get your CEO engaged in social media?

How do you overcome the fear of joining the social media conversation?

And, is Google+ here to stay?

All this and more when you check out the brief interview I did with Mel Carson at the recent Digital East event in D.C.

 

Make me look good, make me feel good: Millennials pick their top brands

Moosylvania Millennial Report 2014Wossamotta U? Millennials aren’t paying enough attention to your brand? Maybe it’s because you’re acting more like a brand than a friend. Moosylvania just released their 2015 Top 50 Millennial Brand Ranking Report and the message is clear, Millennials want to buy from brands that speak their language.

Before we dig into the details, I have to give a shout out Moosylvania’s graphic artist (s). I love when marketers get quirky. I mean, there’s an alien head in this graphic. Why? I don’t care. I love it.

Now, let’s get down to business.

1,500 12 to 35 year-olds were asked to list their top three brands. Moosylvania then combined all of their answers to form the top 50 list. Last week, I posted a list of the top 10 most valuable brands and a few of them made both lists.

The top 10 global brands: this time it’s personal

Interbrand just released their annual list of the most valuable brands in the world. What determines value? Three things:

  • The financial performance of the branded product and service
  • The role the brand plays in influencing customer choice
  • The strength the brand has to command a premium price or secure earnings for the company

Without looking at the chart, I bet you can guess who came out on top.

Top Global brands

Just looking at the top ten (the list goes to 100), a couple of things jump out.

First, there hasn’t been much change over the past year. The top six companies have maintained their rank even though one, IBM, went down 8% in value.

To gain a customer’s trust; meet them on their preferred digital stomping ground

Trust MeTrust is the number one, most important factor in getting and maintaining a relationship with a customer. People have to believe that they’re going to get their money’s worth, that their personal information will be kept safe and that they’ll receive what they ordered in a timely manner. No problem for Amazon, Target or Disney but what if you’re Susie Woosy’s Sleepytime Toys or Fred’s Fish-o-rama? New businesses (by calendar date or simply new to this customer) have to earn that trust before the average customer hands over the credit card a second time, and a third.

A new survey from SDL says it takes two years before the average customer fully trusts a brand and five years before a customer commits to a “Greater than Average” spend.