It’s a bit old story –about Yelp’s extortion scheme, but I was aware of this case through the course, and it triggers my curiosity -how the lawsuit ended. Briefly explain about the issue, local reviews site Yelp’s was alleged to threaten businesses that degrading their ratings if they didn’t advertise on the site. And October 28 in 2011, Wall Street Journal published the result that “Judge Dismisses Suit Against Yelp ”. The suitcase ended up that Yelp’s is innocent of the allegation, my professor makes me contemplate this case and want to talk about the value embedded in social media.
Social media offers many opportunities to individual as well as business sector; people can share their interests, values, and preferences with their family, friends, acquaintance, and even strangers via social media. And people tend to trust these reviews or information more than advertisements, and which is why WOM (Word of Mouth) is considered as significant factor to attract more customers for business field. Thus, business sector pays close attention to its importance of sharing on social media platform; you can encounter many of articles that emphasis on its value. Besides, the popularity or significance of ‘Pinterest’ shows this trend.
Then what is the core idea of sharing the review or recommendation? I think that is; non-manipulated, aggregated and honest opinions from others. And this can build the trustful information of company, brand, or product.
I, from time to time, encountered the reviews that actually made from the companies in different various websites. However, digital media users are getting smarter and they also gain influence through aggregating their voices. Besides many of social media review- or sharing- sites/apps also compete each other with its credibility, and it empowers customers to find the right one. In conclude, I think prosperity of business through social media means following the embedded its core value.