A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology…
Yelp Drops 14% After Reporting Profit Miss In Q2 On Stronger-Than-Expected Revenue Of $133.9M (TechCrunch)
Yelp was down in after-hours trading yesterday following an earnings miss. The company finished its second quarter with $181.46 million in cash and equivalents. “We expect local advertising will continue to be our primary driver of growth as we work towards our goal of generating one billion dollars of revenue in 2017,” said CTO Rob Krolik.
Placed Builds Out Attribution Platform, Connecting Store Visits to Dollars Spent (Street Fight)
Location-based analytics provider Placed is looking to prove that mobile ads have the power to drive sales. The company today unveiled a new tool that collects data on whether consumers bought anything at a store for which they saw a mobile ad, and how much they spent.
Google Now Featuring a Location’s Popular Hours on Mobile Devices (Blumenthals)
Mike Blumenthal: Google has the ability to understand location via mobile devices and use that information to better understand commercial space. Now that they have started to surface this data with a new feature that shows customer traffic at local businesses, it will be interesting to see if it is used in ranking or allowing Google to change ranking during certain times of the day.
Q2 Earnings: Mobile Users Driving Yelp’s Growth, Levchin Resigns From Board (Street Fight)
“Consumers are turning to apps for everything,” Jeremy Stoppelman, Yelp’s chief executive, said on the company’s quarterly earnings call Tuesday. He said Yelp’s executive team is guiding the company toward a revenue stream composed mainly from localized advertising.
New Breed of Digital Publishers Just Say No to Ad Tech (Wall Street Journal)
While the level of ad tech aversion varies on a site-by-site basis, newer publishers are particularly guarded against third parties selling their ad space or accessing their audience data. They aren’t against more automated ad buying and selling, per se, but they are generally not so interested in partnering with ad technology vendors just to earn a few more cents for every banner ad they sell or person they target.
Sponsored Content: 6 Strategies for Success in Social Media (Street Fight)
Business owners should be developing comprehensive social marketing strategies. Those merchants who haven’t taken the first step by creating Facebook pages and Twitter accounts for their businesses are losing out on customer loyalty, as well as new opportunities for growth.
Google Finally Admits Defeat on Google Plus (Slate)
Google is framing the changes as an example of its eagerness to listen and respond to the needs of its users, but in reality, this is an admission of defeat. Google marshaled all the resources it could muster to build Google Plus into a viable Facebook rival. It didn’t work, and the best we can say of Google is that it’s finally acknowledging what has long been obvious to everyone else involved.
Amazon Partners With Startups to Sell Crowdfunded Products (Recode)
Amazon introduced a new platform on Tuesday, Launchpad, that will help startups advertise and distribute their products directly to millions of Amazon customers, filling an important gap for entrepreneurs trying to reach a wider market of consumers.
Beacons and Mobile Wallets (eMarketer)
Lucinda Newcomb, vice president of mobile and site product management at the cosmetics retailer Sephora, spoke about the allure of mobile wallets and the company’s exploration of beacons.