The Yext Quarterly: The State of Location
- 1. A full 88% of smartphone The State of users use them to find location information Location From the Yext Quarterly, a resource on the changing landscape of location for people, businesses, and publishers Brought to you by Yext with Greg Sterling and Andrew Shotland
- 2. First, the Definition… The Layers of Location First: How to Get There Where • Name Location information for users Contact information • Address for businesses • Phone Number Details: The Basics What • Hours Basic info • Payments drives visits • Business Description • Search Categories Rich Local Content: Differentiators Why • Photos and Videos Choosing one • Clickable Featured Messages business over • Content Lists another • Bios, Menus, Calendars, Product/Services
- 3. Local Is Important: 10X as Big as E-Commerce Annual Spending on + Travel + Retail + Local Services $8T Internet Influenced Local Spend Is 51% X Total (8T) = And E-Commerce Is 5% of Total (8T) = $4T $400B
- 4. Local Discovery Is Broken 41.7% 14% 63% Search engines 14% of 63% of respondents are the primary respondents have encountered local discovery consider internet incorrect location tool for 41.7% of directories and information apps their primary respondents local discovery tool Incorrect location information doesn’t only affect businesses, but also customers
- 5. Fragmentation: Incomplete, Incorrect Info Local Search Location information 1 is fragmented inside and outside businesses Business listings lack 2 rich detail ? Publishers can‟t get Local Discovery 3 correct, valuable data From: Howard Lerman
- 6. Consumers Get Bad Data from Listings The worst is Missing Listings – no way to find directions, phone or location info Methodology: Yext surveyed customers before using its product to identify the most common issues
- 7. Missing Listings Alone Are Costing $10.3B
- 8. 3 Lessons from Andrew Mason and Groupon From an interview with Andrew Mason on local and mobile, February 19, 2013 “We‟ve found that local businesses Local is in need of aren‟t early tech adopters… They‟re busy and they‟re happy to rely on innovation… tried and true methods for marketing and tools to run their business.” “Our business, just in the last year, …mobile growth is has gone from 22% mobile, which here… was already doubling from the year prior, to 39-40% mobile this year.” “There hasn‟t been real tech …and disruption is innovation in local since the invention still coming of the credit card, and mobile has catalyzed the disruption wave.” Andrew Mason Co-founder, Groupon
- 9. 10 Local Digital Marketing Predictions From Greg Sterling and Andrew Shotland Mobile is an imperative for local Local data syndication becomes 1 marketers 6 progressively richer Location will be packaged as Google will push more local 2 audiences for national marketers 7 information into its search results Mobile data will increasingly Google business builder will finally 3 connect online ads to offline action 8 arrive 4 It will be the year of conquesting The 800lb gorilla will be Facebook 9 Graph Search Mobile payments for real world 1 5 transactions will gain momentum Apple Maps will sneak up on us 0 “Increasingly „location data‟ will expand to include a broader array of information: images, product and service pricing, inventory, social content and other relevant information.”
- 10. For a Full Copy of YQ1 Go to yext.com/blog (www.yext.com/blog/2013/03/introducing-the-yext- quarterly/) Brought to you by Yext with Greg Sterling and Andrew Shotland