Yelp’s ad revenue rose 14% in part (it said) because of “a change in behaviour.”

A shift away from brand advertising and towards performance marketing was noted by Yelp bosses. This is because the latter provides marketers a more efficient way to track and monitor ROI, according to the company.

it should always be a mix of the two. But I think this shift is more a sign of the end of the free money train as interest rates have continued to rise.