The free ‘Revenue Estimator’ feature allows business owners to see how reviews, photos, check-ins and tips customers write about their business can translate into sales.
The UK Revenue Estimator uses statistics based on a survey of 1,000 UK businesses, which revealed the average spend per customer directed from Yelp, broken down into different business sectors. Business owners can also manually input this figure if they feel their business is not representative of the national average.
The Revenue Estimator calculates the number of ‘Customer Leads’ a business receives – for example, calls, visits to the business’ website and reservations received via the Yelp website or mobile app. The total number of Customer Leads is then multiplied by the average spend per customer to estimate the business’ revenue potential.
The new Revenue Estimator is available to all local businesses, irrespective of whether or not they advertise.
It’s available to businesses in the UK, Ireland, France, Germany, Spain, Switzerland and Austria. The wider European launch comes after its success in the US, where it launched earlier this year.
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