weRate
  • Welcome to weRate
    • weRate Mission
    • Introducing weRate
  • The Broken Review Economy
    • Rapidly growing industry
    • Fake reviews
    • Review bias
    • No engagement. No Value
    • Terrible search experience
    • Undervalued & massive opportunity
  • Authentic reviews
    • The opportunity
    • Proof-of-Authenticity system
    • Storing Proof-of-Review onchain
    • Benefits for users
    • Benefits for businesses
  • Using the application
    • Getting started
    • Checking in
    • Giving a review
    • The map
    • Unrivaled search
    • Crypto events
  • Bohemians
    • Rarity Tiers
    • Attribute Point Allocation
    • Bohemian Attributes
    • Levelling Up
    • Bohemian Properties
    • Bohemian Specialities
    • Owning Several Bohemians
  • GameFi and SocialFi
    • Earnings & Rewards
    • Leaderboards
    • Bonus Points Multipliers
    • Ratings
    • Energy
    • Wisdom
    • Marketplace
    • Upvoting and ⚠️ Reporting
    • A community owned review platform
  • Tokenomics
    • $RATE
    • Reward Pool
    • Token distribution
    • Token release schedule
    • Ecosystem value flow
  • Revenue model
    • User-Generated Revenue
    • Business-Generated Revenue
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  1. Revenue model

Business-Generated Revenue

Online reviews, both positive and negative, contribute immensely to a company's success. The reason that fake reviews are so resilient is that the return on investment is very high. An extra star on a restaurant's Yelp rating can increase revenue by 5% to 9%.

In a court case dating back to 2018, a California-based business (Super Mario Plumbing, California) claimed to have suffered a 25% drop in revenue which led to the forced layoffs of several staff members, as a direct result of a competitor’s fake reviews. In a similar case, a food business selling dumplings (Ottawa Perogies) claimed to have gone out of business as a result of fake reviews, after 13 years of hard work building their business and reputation.

WeRate offers businesses:

  • A chance to take back reputational control

  • Enjoy high quality feedback

  • Gain insights into customer behavior

  • Exposure to the continuously growing web3 community

For businesses it is important to be able to conduct online review management. This is done through a subscription model we call Verified Venues (VV). VVs enjoy a lot of benefits:

  • Radiate trust and enhance map visibility through:

    • Purple check mark

    • Popup window highlighting your business

    • Promotion to people who are nearby

  • Be recommended to certain users based on preferences

  • Access to analytics

    • See who liked (favorited) your venue and send them messages

    • See check-in and review statistics

    • Get insights on competitors

  • Physical store benefits

    • Order postal cards to give to their take-away users

    • WeRate Quality label for window bragging

    • WeRate goodie bag ordering (stickers, etc…)

  • Upgrade the company page

  • Improved in-game mechanics to attract more customers

  • Allow interaction with users

    • Ability to respond to reviews

    • Send promotions

    • Users can ask questions

    • Launch events

    • Invite weRate Influencers to your business

  • Use reviews to your advantage, we will never allow scrubbing (paying to remove bad reviews)

    • However we allow positive review boosting!

    • Inappropriate reviews can be asked to be removed

    • Positive reviews can be used for marketing purposes

  • History satisfaction chart of the venue

  • Participate in Favorite WeRate Venue Awards

  • Create special offerings through the app, such as discounts, last available seats, happy hours, etc…

  • In-app advertising (more than 90% of Yelp’s revenue comes from advertisements)

  • And much more…

We will employ a CPC model for listings and CPM model for advertisements.

PreviousUser-Generated Revenue

Last updated 4 months ago