Unlocking advertising insights: A new tool for data-driven marketing strategies

In the ever-evolving landscape of paid advertising for regional and national brands, staying ahead of the curve is not just a choice – it’s a necessity. So to help marketers like you, we’ve introduced an interactive industry insights tool aimed at elevating your advertising game.

The power of category trends data

Our new tool provides you with the following three category-specific data points to help you make more informed decisions when it comes to your advertising strategy:

Data Point 1. Top search queries:

Understanding what your consumers want and what they are searching for is the cornerstone of a successful marketing strategy. With our tool, you gain insights into the top ten search queries on Yelp within your chosen category. This information is akin to having a direct line to the thoughts and desires of your target audience. And since we know 83% of Yelpers purchase from a business found on Yelp1, we know these top queries represent what they plan to buy, and soon. Use this data to tailor your content to highlight specific offerings that resonate with potential customers’ needs. For example, a medical spa brand can see a top query is for “lip injections” and ensure their marketing promotes their injectable specials to better convert new customers.

Data Point 2. Percentage of unbranded searches:

Unbranded searches are a treasure trove of untapped potential. When consumers search for something they need without specifying a brand, they’re open to exploration. While the vast majority of searches on Yelp are unbranded, our tool allows you to drill down into your categories to see how consumers are searching within your industry. If your category is mostly unbranded searches, focus your ads on promoting your offerings that align with the top queries. But, if you find your industry has more branded searches, tailor your advertising to focus more on competitor targeting. For instance, if you’re in the auto repair business and you see well over 90% of searches are unbranded, then continue to advertise your offerings that consumers are searching for the most, like brakes or mufflers. But, if you’re a regional fast food chain, and you notice less than half of the traffic is unbranded, you may want to balance your investment to more heavily invest in a competitor targeting campaign against the top branded searches.

Data Point 3. Average advertising investment:

While the right creative and targeting strategies can yield significant results, it’s equally crucial to understand the investment landscape. Our tool offers you insights into the average advertising spend per location on Yelp for businesses in your category. This information provides a benchmark for your own spending decisions to help recalibrate your budget and ensure you’re staying competitive. For example, if you’re marketing a chain of fitness centers that’s just getting started, you may want to consider making a big splash with your initial advertising, perhaps spending 2-4x as much as other fitness centers. If you’re looking to maintain your competitive position, you may decide to simply match what others in your industry are spending.

Data is great, action is better

How can you put these data points and our new tool into action? Here’s a roadmap to success:

1. Match the demand: Align your campaign creative and messaging with your audience’s preferences, as revealed by the top search queries. This establishes direct relevance and showcases your brand’s relevancy.
2. Invest based on unbranded volume: If your industry is dominated by unbranded searches, capitalize on this by understanding gaps in the market and tailor your advertising to fulfill those demands and position your brand as the solution. If your industry leans toward more branded searches, evaluate the investment you have in competitor targeting ad solutions and consider increasing that budget.
3. Budget strategically: Analyze competitors’ ad expenditures and adjust your budget accordingly, based on your desired competitive stance. Informed investment decisions amplify impact and deliver expected outcomes.

Advertising choices are vast, and consumer behaviors are complex, but our new tool can serve as the compass to guide you towards a more targeted and effective approach to your advertising strategy. At Yelp for Brands, we understand that successful marketing is a blend of art and science. That’s why we’re committed to providing you with the tools and insights that empower you to meet and exceed your advertising goals. So, go ahead, dive into the data, and watch as your advertising strategy transforms into a roaring success.

Ready to revolutionize your advertising strategy? Try our new interactive industry insights tool today and unleash the power of data-driven decisions. And if you’re looking for even more granular and tailored insights, down to a brand level, request a meeting with our team of Yelp for Brands experts who can guide you further.