Yellow Pages exists to champion the local neighbourhood economy by creating local opportunities for Canada’s businesses and its consumers to connect, interact and build relationships.
Yellow Pages (YP) business is focused on providing digital products and solutions to Canada’s local businesses and to the global brands that serve local Canadian markets. The Company’s updated corporate strategy aims to evolve its customer offering and capabilities in tandem with a changing digital market. The Company will focus on implementing a growth-oriented corporate strategy with five key initiatives:
- Reshape the customer value proposition
- Implement new ways of selling
- Redefine and improve the customer journey
- Continue growth in subsidiaries
- Build the future state of the business
Reshape the customer value proposition
The goal of the new customer value proposition is to acquire, retain and strengthen our customer relationships. The Company will reshape its customer value proposition based on first-hand research conducted and input solicited from Canadian small and medium-sized enterprises (SME). The Company will structure its subsequent offering to directly address their critical needs in digital marketing.
YP’s core offer will no longer be product-centric, but rather provide content-centric solutions for SMEs.
Due to fragmentation of the digital market, SMEs require synchronized content across more platforms to reach customers. The starting point is a basic business profile, including company name, expertise, address and contact information. From there, the SME can expand its business profile by adding more engaging content – description of services, hours of operation, photos, etc.
YP will act as the SME’s content hub and then will syndicate that content across other large digital ecosystems (i.e. Facebook, Google, Apple).
The offering will blend Owned and Operated products and digital services into a staircase of offerings with varying service levels (basic, plus, premium). The entry point will consist of a simple, affordable, content-driven solution to establish, amplify and manage an SME’s business identity online. Once this is in place, an SME will then unlock a range of scalable marketing solutions to boost their visibility and manage their reputation in social media, an arena where SMEs clearly identify a critical need for assistance.
Many digital services and certain digital products, as well as print, will now only be available as add-ons to the main customer offering, creating upsell and upgrade incentives. By offering blended, tiered solutions, profitability will be more stable and sustainable.
Implement new ways of selling
While YP has successfully shifted skillsets and knowledge base of its sales teams over the last three years to meet the needs of a digital environment, the Company must now review the structure of its salesforce. This currently remains aligned with legacy structures. YP requires greater flexibility to capture growth opportunities across customer segments, cost efficiencies and increase competitiveness. Additionally, the Company will place greater emphasis on acquiring and retaining high spend, high potential customers.
Redefine and improve the customer journey
As expectations of a digital customer are for simple and seamless interactions, this is the customer journey and experience YP will strive to create. The Company will align its tiered offering with five customer segments, divided by spend potential and critical marketing needs. Varying service models, product portfolios and touchpoints will be implemented for each customer segment, all with the goal of eliminating digital complexity and creating the customer experience that meets their critical needs. For low spend potential customers, YP will develop and implement an automation/self-serve model to offer greater flexibility for customers and allow the Company to place resources on high-spend, high-potential customers.
The Company will also introduce evergreen contracts, moving from an annual contract to a monthly subscription with minimum commitment necessary with add-on offers. This is more aligned with the expectations of simplicity and flexibility of digital customers. It will also create lower barriers to entry, facilitating customer acquisition.
Continue growth in subsidiaries
JUICE will focus on expansion of its foothold in the U.S. market as well as evaluate the potential for expansion into markets outside North America in 2018. JUICE will also focus on developing new proprietary advertising technology addressing location data needs for marketers. The advertising technology company intends to monetize this technology by licensing it to digital marketing agencies as a SaaS (“software as a service”) product.
Mediative will focus on expanding the depth its existing managed service relationships. It will also seek to develop new relationships with major Canadian retailers looking to develop media monetization strategies on their e-commerce offerings.
Build the future state of the business
In the near term, YP will expand its customer offering to include services that facilitate commercial transactions to businesses, similar to the restaurant reservation capabilities in its YP Dine operations. YP will look to integrate transaction-oriented solutions across its customer base addressing needs such as appointment scheduling and payment, making these services easily accessible and affordable to SMEs in Canada.