A couple of years ago, a Harvard Business Review study attempted to sort out the correlation between online reviews and revenue in the restaurant/hospitality business. Professor Mike Luca studied the revenues and customer ratings of an independent Seattle-area restaurant before and after Yelp launched in 2004. In his research, Luca concluded each star on the Yelp scale was worth a 5- to 9-percent change in revenue—either up or down. The study seemed to establish something we all ...
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