Home United States USA — software Yelp acquires Wi-Fi marketing company Turnstyle Analytics for $20 million

Yelp acquires Wi-Fi marketing company Turnstyle Analytics for $20 million

98
0
SHARE

Yelp this morning announced it has paid $20 million in cash to acquire the Wi-Fi marketing company, Turnstyle Analytics, which offers a service that allows..
Yelp this morning announced it has paid $20 million in cash to acquire the Wi-Fi marketing company, Turnstyle Analytics , which offers a service that allows businesses to connect with their customers over a freely provided Wi-fi network. The move, Yelp explains, is aimed at expanding the types of business marketing services Yelp already offers beyond those that are focused on customer acquisition, to also include those that help businesses with customer retention and loyalty.
Toronto-based Turnstyle was founded in 2012 that today supports nearly 3,500 businesses, primarily across the U. S. and Canada. According to the logos on its website, these customers include Back Alley Burger, Burger King, Broncos Slider Bar, Subway, and others.
Turnstyle is a paid service for its business customers, based on scale, that offers insights into customer behavior, visits and more, gained from the free guest Wi-Fi logins.
Customers who agree to use the free Wi-Fi provide their email address, which then allows the business to build out a target customer contact lists. The businesses can also take advantage of analytics tools that provide additional insight into visits – tracking things like frequency, to identify their most loyal customers, and duration, among other factors.
Yelp explains that the average consumer today spend more than five hours per day online, but still makes approximately 93 percent of their purchases offline.

Continue reading...