Competition Analysis
Yelp is a website that acts as a business directory as well as a forum for peoples reviews. They have three main target audiences including local businesses, users, and content contributors. Within these audiences, Yelp tries to engage and interact with users to market local businesses and provide a place where people can discover new places and support local businesses. The majority of the cost structure is dedicated to sales and marketing at 51%. Additionally, 23% is spent on product development, 13% on general and administrative costs, 6% is cost of revenue, and 5% for deprecation. 97% of their revenue is coming from advertisements, while the last three percent is coming from transactions and other factors.
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Yelp’s brand portrays a happy and user friendly interface, made for the family. They use various box layout and use red as their main color.
Resy is a smaller company, but is growing in different areas. Their mission is to “power the world’s best restaurants, using technology to imagine the future of hospitality.” They are a company similar to OpenTable in that they serve restaurants and its customers. There is not very much information in terms of revenue and costs, but they generally use a flat fee pricing model ranging from $189-$899 per month.
Yelp’s brand portrays a happy and user friendly interface, made for the family. They use various box layout and use red as their main color.
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Resy’s brand portrays a modern and high-class image using sans serif, blocky text and a red tinted scheme.
The OpenTable business model is one that is managing to beat out many of its competitors. Their value proposition is to ensure convenience for users and customers. Some of their main costs include maintenance of application, online advertising costs, employee salary and training, and technology support. Their main sources of revenue include monthly subscriptions and reservations, installation fees and advertisements. On top of the monthly subscription, restaurants pay a one time installation and training fee, ranging from $200-$700, a $2.50 fee per reservation made on the OpenTable website and a $0.25 fee per reservation made using OpenTables services.
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OpenTable’s brand is almost identical to Yelp in that it uses a shade of red as its primary color, and uses a block layout to organize their information on a very user friendly website.
Engagement
The information in this table is important because it shows us how are competitors are doing in number and type of visitors, duration of visits, average number of pages per visit, and bounce rate. Using this data to compare we can analyze what areas are strong for each competitor and where they are struggling to help our business be successful.
Channels Overview
The graph above shows the percentage of where visitors are coming from when they land on our competitors websites. We analyzed this data to see which channels are successful in comparison to other marketing channels. Yelp is far above the others in traffic from organic searches, while opentable and resy are fairly similar. Yelp has the highest direct traffic as well.