What metrics do you think are important to Yelp?

Introduction

Analyzing Yelp's important metrics requires a comprehensive understanding of their business model and user ecosystem. To approach this product success metrics problem effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Yelp is a crowd-sourced local business review and social networking platform. It allows users to search for local businesses, read and write reviews, and interact with other users. Key stakeholders include:

1. Users (consumers)
2. Business owners
3. Advertisers
4. Yelp employees
5. Investors

The typical user flow involves:

1. Search for a business or service
2. Browse listings and read reviews
3. Make a decision (visit business, book reservation, etc.)
4. Optionally write a review after experiencing the business

Yelp's strategy focuses on being the go-to platform for local business information and reviews. They compete with Google Reviews, TripAdvisor, and Facebook for local recommendations. As a mature product, Yelp is in the late growth/early maturity stage of its lifecycle, focusing on user retention and monetization.