Although the industry is shrinking, print directories is still a $3 billion industry. YP can use its local expertise to develop bespoke marketing strategies for local SMEs to create this differentiation. YP needs to leverage its well established brand and network in local geographies to compete with newer, more tech-savvy companies like HubSpot. Differentiate from competitors by focusing on smaller and local businesses.In order for the company to still exist in the next 5 years, YP needs to: Profitability has been declining as the digital segment is replacing the more profitable segment. YP has found a way to survive, but it is by no means thriving. Worried by a declining customer count, many research analysts have expressed concerns about YP’ growth in the digital segment and downgraded its rating. After a disappointing earnings release earlier in November 2016, share price dropped 13.6% from C$22.00 to C$19.00. Improve business efficiency: rationalize the shrinking print segment of the businessĭespite growth of the digital business as a % of the total revenue, YP’s top line has consistently shrank since 2013.Enhance go-to-market strategy: Increased customer (SME) acquisition and retention by investing in sales force, providing data analytics, and improving customer service through a B2B solutions website.Strengthen media assets: Improve user experience for consumers.Extend brand promise: launch advertising campaigns across media channels to highlight improved content and search functionalities available on the mobile app and online platforms.Despite the changes, YP has maintained its sales and customer account services functions to continue its focus on providing top service to both business and consumers.Īdditionally, YP is pursuing a “Return to Growth Plan” focused on four operational levers to improve growth and profitability and it transitions its business model: To support these initiatives, YP has restructured the organization by creating over 400 positions in digital marketing, media, and IT and shedding 300 positions that are not aligned with digital operations. The YP platforms are available across industries, including business & people search, real estate, retail, and dining. To create more value for consumers, YP made its directory easier to use across multiple platforms and industries.
To create more value for SMEs, YP bundled print and online directory services with marketing consultancy services such as multi-channel marketing plans, search engine optimization, social media placement strategies, and consumer data analytics. Yellow Pages’ Transformed Market Positioning
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Realizing that companies like Google are providing directory services for free, YP shifted its business model from directories to a full service, multi-channel marketing solutions company. It began to acquire online directory companies in 2007 and had made 11 acquisitions by 2010. Unlike its competitors, YP was quick to react to the changing landscape.
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Pathways to Just Digital Future Watch this tech inequality series featuring scholars, practitioners, & activists By 2009, three major directory businesses had filed for bankruptcy. The print directories platform was trending toward a death spiral as its networks shrank below critical mass on both sides. Businesses quickly flocked to the cheaper, more effective advertisement online.
In 2016, 40% of Americans use a directory at least once a month compared to in the 1980s, when 50% of Americans used a directory every day. For decades, YP defended its network of SMEs and consumer with an aggressive sales force that sold ad space and a robust distribution network to make sure a phone book was delivered to every home.Īs the Internet became the most popular information sharing platform, YP’s printed directories are more likely to be found in recycling bins than next to telephones. This book, compiled, published, and distributed by Yellow Pages (TSX: Y), served as a two-sided information sharing platform in local markets, amassing a network of local businesses (SMEs) and matching them with a large consumer base who need the products and services provided. In the 90s, nearly every home in North America had a thick book printed on yellow pages that listed the telephone numbers of all the businesses in the local area.
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