If you own or operate a restaurant, you’re probably hungry for more positive reviews on Yelp, Urbanspoon and other sites. A new study by Michael Luca, a Harvard Business School assistant professor, shows exactly how positive reviews on Yelp impact restaurant sales. According to the study, each star rating on Yelp translated to anywhere from a 5 to 9% increase in revenues for restaurants. In other words, for a restaurant that does $1 million a year in business, increasing its Yelp ...
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