20 MAY 2008
FOR IMMEDIATE RELEASE
Yell’s 26% share price fall comes as no surprise as they continue to ignore consumer behaviour and the evolution of the market.
Yell continues to blame a ‘tough’ economic climate for its falling performance, but that claim is way off the mark.
The traditional directory sales call to businesses is ‘spend more on advertising during tough times’, but Yell’s executives are singing a different tune, blaming their poor performance on a poor economy and reduced advertiser spend. The reality, however, is rather different and it’s there for all to see.
Over recent years fewer and fewer people are using traditional directories, both their paper and online offerings, turning instead to the many newer alternatives. At the same time businesses are spending their advertising budgets on these effective alternatives. This is nothing to do with general economic cycles but shows a fundamental shift in consumer and business behaviours.
Consumers and businesses are demanding more than the old-style directories can provide, even with their mediocre online offerings, and they are voting with their feet and their wallets.
Websites like Brownbook.net offer businesses instant and unlimited updates of their business information, as well as photos and videos, mostly for free. And consumers are benefitting from the trust and reputation that real consumer reviews can provide.
Brownbook.net COO, Marc Lyne observes:
“The new generation of consumers and advertisers expect a collaborative approach that is immediate, one where they are involved and where the lower costs of production on the internet are reflected in the adverting rates that businesses pay. Yell has not grasped these changes and continues to forge ahead blinded by their glory days”.
“The fact is that we don’t need these archaic printed directories any more, we are living in a connected World, the growth of internet usage is changing all the rules. New ways of working are becoming accepted and expected. Wikipedia has proved that, given the platform, consumers can all contribute to produce something that is far more complete and timely than anything that could be centrally produced”.
“The environmental factors of producing large directories are also under pressure and protest campaigns like ‘stop the drop’ – the drive to stop directory companies dropping paper directories on our doorsteps – are gaining large followings. Yell reminds me of the story of the horse and cart manufacturer at the birth of the motor age”.
“New services like Brownbook.net are changing the whole game for directory incumbents, as did Wikipedia for printed encyclopaedia. They place power and control directly into the hands of consumers and businesses, simultaneously giving both a better service”.
Brownbook.net, was launched in February this year and has over 2.2 million businesses already listed, with hundreds being added every week by its users. Brownbook.net is much more than a online business directory; it offers consumers the ability to inform others about good or bad service and it allows any business from a dog walking service to a multinational to list who they are and what they can offer, complete with photos and videos
For more information about Brownbook.net please contact David Somerville on 01273 837733 or email email@example.com.
Or contact Brian Davenport, Dryden Brown PR, 023 8022 9041 or email firstname.lastname@example.org
Notes to editors:
1) The Brownbook was founded by two directory industry executives who saw that local businesses needed a faster and cheaper way to promote their businesses and their reputations online and to get found by ever more discerning consumers.
2) There’s more on the ethos and beliefs behind The Brownbook on the blog: http://blog.brownbook.net.
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