Helping businesses manage their digital knowledge online
Yelp (YELP) and Yext (YEXT) have expanded their relationship to give businesses more control over their digital knowledge online. Yelp’s website is one of the first places consumers turn to when looking for information about a local business.
The expanded partnership makes Yext an official Yelp Knowledge Partner. In this position, Yext can enable businesses to monitor their Yelp reviews right within its platform.
“By expanding our relationship with Yelp, we’re ensuring our clients are putting their best foot forward on one of the sites consumers trust the most,” said Yext chief strategy officer Marc Ferrentino.
Enabling businesses to manage facts about them on Yelp
Yelp and Yext have long partnered to offer consumers accurate information on businesses. Now the companies are extending the information benefit to businesses, enabling them to quickly and easily obtain knowledge and insights into what consumers are saying about them in Yelp reviews. The expanded partnership with Yext could help Yelp convert more of its business customers into advertisers.
Yelp added 14,000 advertisers in the first quarter
Yelp’s advertising revenue jumped 20% YoY (year-over-year) to $214 million in the first quarter. The company added 14,000 advertisers in the quarter to exit with 177,000 advertisers in all.
Facebook (FB), whose flagship social network boasts more than 6.0 million active advertisers, grew its advertising revenue 50% YoY in the first quarter. Alphabet (GOOGL) and Snap (SNAP) grew their advertising revenue 24.3% and 62% YoY, respectively, in the first quarter.