Today, the Internet is being used by thousands of Americans nationwide to help influence purchase decisions. Online listing websites such as yellow pages, Google+ and the most popular, Yelp are being used to review various businesses from small mom and pop stores to large corporate retailers.

With so many prospective customers turning to these online reviews prior to making a purchase decision, it is more important than ever for businesses to monitor their Yelp page, review comments and make changes on any negative feedback the business may have received.

The Impact Yelp Can Have on your Business’ Profit

For those of you who are unfamiliar with the social media website, Yelp is an online website that was designed to allow customers to voice their opinions about positive and negative experiences they had with restaurants, stores and service providers. What started out as a small review website now influences hundreds of purchase decisions each day. A recent Harvard Study reported that a one star increase in your Yelp rating (out of 5 stars total) equates to about a 9% increase in sales each year. Furthermore, it is said that 8 out of 10 Americans now consult an online review website such as Yelp prior to making a final purchase decision Harvard Magazine. With that information in mind, it is obvious why it is vital for businesses to monitor their Yelp site and strive toward online reviews: profit.

Easy Ways to Maintain a Good Yelp Profile

Knowing the financial impact that Yelp can have on your bottom line and your overall earnings, there are some key ways that you can maintain a good profile.

1. Upload Photos and Keep Information Current

As a business owner, you can claim your Yelp page which allows you to edit the content that is seen by the site’s visitors. Use this to your advantage and upload photos of your products or service and keep the information as up to date as possible. When it comes to comparing businesses, especially for hotels or restaurants, users may not even reference your main website and simply make a decision from your Yelp page. Therefore, it is always best to put your best foot forward.

2. Respond to Positive and Negative Comments

By responding to any comments you have, it helps show those looking at Yelp that you are involved and care about the service you provide. Especially if a customer is unhappy with a service, a well thought out, articulate and genuine response, may help others view your business more positively. Keep in mind, even if your Yelp profile features a large number of positive reviews, poor feedback from guests will most likely be remembered over all of the glowing compliments you have received.

3. Consider Running a Yelp Deal

Yelp offers deals through their website where your business can be featured in a Yelp Deal. Similar to others sites such as Living Social and Groupon, customers are able to purchase a gift certificate in the form of a voucher from your business. The voucher will be valid for a certain amount in which the user paid a discounted price for. In addition to attracting business and making your Yelp page more appealing, it also acts as a great way to advertise for additional service. The more people who purchase and enjoy your great customer service, the more likely you’re going to get positive reviews, and thus a higher profit margin Yelp.

With Yelp so popular and relevant, it is important that companies, regardless of how big or small they are, engage in good Yelp practices. As the traffic to the Yelp site grows and more individuals look to the site for assistance, the more important keeping a good Yelp profile becomes.

Stanley Travis writes on social media, technology, gadgetry and computer science; those interested in social media should consider viewing the resources at what to do media.