Until recently, Yext careers were reliable. Yext was one of the best-known local SEO brands in the business. Unfortunately, that’s changed- Yext Careers Plummeted.

Before 2021, Yext was thriving. But, by the end of that year, the brand’s revenue was falling short of projections. Then, the company’s situation worsened.

Ultimately, by March 2022, its stock value crashed—plummeting by over 20% in an after-hours session. 

What’s going on with Yext? And what does Yext’s financial precarity mean for businesses that need quality local SEO services?

In this report, discover where Yext—and you—might go next. 

The Value of Local SEO

Why do businesses pursue local SEO? Recently, NIST published a case study on the revitalizing effect of SEO best practices. It follows a struggling, small clothing development and manufacturing firm in New York City.

Many of its former clients went out of business during Covid-19. It was losing revenue. Then, it implemented a digital marketing intervention.

By executing an evidence-based local SEO strategy, the company saw results within a month. Thanks to strategic, local SEO, the small business:

• Created/retained 13 jobs
• Now generates five leads on average per week
• Saved over $5000 on marketing costs

When Yext was first founded, it delivered these kinds of results regularly. So, what exactly happened to the company? and why did Yext Careers Plummet? ? Let’s dive deeper into its formation to find out. 

When Was Yext Founded?

Yext was first founded in 2006 by Howard Lerman.

Yext’s essential product is the Yext Knowledge Engine, an AI that empowers businesses to give internet searchers accurate information—and to update multiple repositories of business information at once. 

What Does Yext Do?

Yext is actually a highly advanced AI-driven platform that offers five key services to business clients:

• eCommerce solutions to increase discovery and conversion
• Lead-generation solutions
• Organic-search digital marketing solutions
• Streamlined self-serve customer support
• Internal workplace support software

Most of Yext’s technology gives leaders tools to readily and easily update information for anyone who needs it.

Yext keeps businesses’ digital footprint up-to-date and trustworthy by automating information updates- so you don’t have to. 

How Did Yext Get Its Start as a Company?

So the saying goes, the third time’s a charm, and Yext is Howard Lerman’s third digital company. It grew from a company Lerman started in 2005: GymTicket.com.

GymTicket.com was a lead-generation service, initially solely for gyms. However, the centerpiece of the service was the website, which directed people to nearby gyms. 

GymTicket.com was so successful that Lerman could sign over 3000 gyms up for the listing in a year. He quickly expanded the lead-generation service to other types of small businesses.

By 2006, Lerman envisioned the company as the next generation of Yellow Pages. From there, the name “Yext” was born.

Inventing Powerlistings

Still, renaming the lead generation company wasn’t what turned Yext into a lead-generation empire. That happened in 2011.

By then, Lerman began to notice his business clients had stressful problems that sometimes hampered their online marketing efforts. The problem stemmed from keeping tabs on all of the multiple listings and profiles on different platforms.

Companies often learned that their online information was out-of-date only when customers called to complain. Lerman realized a streamlined listing-update service would be incredibly valuable.

Soon, Lerman developed a software product called Powerlistings. Powerlistings used AI technology to update several listings on different sites and platforms, all from a single control deck: the Yext Knowledge Engine. Robots are so cool.

Yext Knowledge Engine Reigns Supreme

Powerlistings and the Yext Knowledge Engine rocketed the brand to the top. Among digital marketing brands, Yext developed a reputation for being the best.

Unfortunately, the last two years have not been kind to the company. So what happened? Did the Robots go down in flames, or did the balance between Ai and human interaction change?

Why is Yext’s Stock Market Value Crashing Now?

Yext’s troubles began in 2020. During a post-earnings call, Yext’s then-chairman Michael Walrath detailed how the company was hitting barriers when executing its go-to-market plan.

Walrath was seeing fragmentation in the company’s interactions with customers. Yext began to fall out of alignment internally with so many customer-facing functions.

Poor Customer Retention

Too many teams worked separately. 

This lack of unity made it hard to cultivate strong relationships with customers. As a result, customer retention became difficult, and Yext lost revenue due to upselling challenges. 

Then, the Covid-19 pandemic threw fuel on the fire.

This just goes to show that while Ai can change our lives for the better the human element within Ai still plays a hefty role in the future of marketing.

Leadership Losses in Faith

As business clients cut back on their marketing budgets in response to pandemic-related revenue losses, Yext faced inner turmoil. Eventually, leadership lost faith in then-CEO Howard Lerman and CFO Steve Cakebread.

Both Lerman and Cakebread resigned.

Michael Walrath stepped up and took Lerman’s place as CEO. No matter how good your Ai robots are- this situation was bound to cause a huge drop in company moral.

That leadership shakeup was the final snowflake in a perfect storm—one that made Yext’s market value fall like an avalanche. Now, Yext stock is down to a mere $4.80 per share. That’s a far cry from its 2018 peak of $26.85. 

Yext Careers Plummet into an Uncertain Future

Despite Walrath replacing Lerman, Yext hasn’t escaped the problems that have dogged it for the past few years. 

Reports show Yext is losing market share to competitors. And, between low revenue projections and continued trouble with alignment, Walrath has suggested more layoffs may be on the horizon.  

Yext Careers Plummet in Peril: Is Yext Letting Go of Employees?

Insiders have noted a surprising number of layoffs from next, and rumors are swirling that more are coming.

On the job-search site Indeed, current and former Yext employees give the company a dismal 2.8 stars for “Job Security and Advancement.” Current employees are not optimistic about their Yext careers.

And, on the anonymous professional site TeamBlind.com, conversations about layoffs have been roiling since March. For example, in April 2022, one current employee posted, “[Yext] already laid off a number of the sales team a few weeks ago.”

Layoffs Are Bad For Customers, Revenue

Layoffs and freezes on advancement are bad news. Research repeatedly demonstrates layoffs result in lower customer satisfaction. There are two reasons for this.

First, the remaining employees perform worse. They become disengaged, hesitate to go the extra mile, and distrust management.

They sometimes distrust one another as the anxiety of job insecurity creeps into all facets of work life. And many quit abruptly—leaving management scrambling.

The disorganization, split attention, and anxiety drags down employees’ results. This makes customers less happy with them. 

The other reason for customer dissatisfaction is a little more big-picture. Customers are also members of the public. They have their own sympathies and convictions.

Layoffs Harm Brand Image

The public largely sees layoffs as against their values. Downsizing is seen as greedy, heartless, and deeply disloyal. Instead, people generally believe brands should support their employees and team members over profits—even in a tight spot. 

Once downsizing efforts become obvious, the public forms a negative impression of the brand that’s hard to shake. 

For sales teams, this one-two punch is disastrous. More than any other, sales teams immediately impact a company’s revenue. Moreover, sales team layoffs can trigger a downward spiral that’s near-impossible to reverse.

That’s bad news for Yext, and its clients. If customers can’t get the results they want from the brand anymore, where else will they turn?

What Does Yext’s Failure Mean for Its Local SEO and Local Listings Clients?

If Yext is already on this downward path, its clients are likely already jumping ship. But where will they head next?

While some big names in SEO are worth considering—Yoast and SEMrush are both popular brands—they aren’t necessarily the best for businesses with a local focus.

Nor do they offer automated directory updates and digital footprint maintenance services, as Yext does. 

Fortunately, a new brand on the block may just beat Yext at its own game. 

Are There More Reliable Local SEO Alternatives?

Yes. There is an AI-driven local SEO alternative to Yext. And, unlike Yext, it isn’t laying off employees left and right.

This company is on the upswing balance a brand new Ai automated directory that also allows business to post on instagram and facebook! Are you kidding me? Robots are getting better, but so are the people behind them when balanced with great teamwork and company moral.

Introducing: Direction Local

Direction Local is an award-winning local SEO solution.

Like Yext, the Direction Local platform lets you automate business information updates on hundreds of social media platforms and business directions across the web. 

Beyond that, though, Direction offers a unique suite of features to enhance a business’ visibility and elevate its digital footprint. This includes:

• Automated, relevant listing creation
• Personalized, white-glove service from an SEO expert
• Customer market reporting insights

And, unlike Yext, Direction Local is hiring customer success managers. 

Just as layoffs trigger a downward spiral of customer dissatisfaction, expanding customer-oriented teams enhances customer success.

It allows more time for personalized service, faster responses to questions, and greater passion for the client’s project day-in and day-out. 

Who would you rather work with?

Direction Local Features and Benefits

Direction local offers general-purpose solutions for local businesses, and niche solutions for hotels and medical practices.

For businesses in the medical and hospitality industries, the platform provides access to high-value directories unique to that niche. And Direction Local has partnerships with over 75 online directories.

The Benefits of Ai Marketing

With these solutions come substantial benefits, including:

• A boost in search engine rankings—including voice search and local search results
• Enhanced profile and increased rank on over 25 map apps—including Google Maps, Apple Maps, and Waze
• Easier customer acquisition (draw qualified leads right to your door!)
• Improved brand reputation 
• Increased profits from your online presence alone

Direction Local is one of three flagship solutions from Direction, a company with decades of SEO expertise.

Direction teams know how to empower businesses to thrive online through award-winning bespoke SEO services and global legal compliance solutions.

What kind of features earns the results local businesses want? 

The Features of Ai Marketing Combined with Customer Service

Direction Local includes various features to develop, enhance, and update your online presence. These include:

• Automated listing creation
• All-in-one review management dashboard
• One-step publishing for business updates
• Custom SEO reporting and analysis
• Real-time syncing and profile updates
• Automated listing checks, duplicate cleansing
• Voice search activation across multiple systems
• Niche directory submission
• 2-Way API syndication
• Guided setup and installation

These features come alongside an SEO partner who genuinely cares about your results.  

Save Time and Boost Local Rankings

Ultimately, today’s business leaders can’t afford to skip SEO—even if they’re small or mid-size.

Yext used to be the go-to solution. But, as Yext careers falter, the brand increases layoffs, and shares continue to tumble, the odds of a great experience as a Yext customer are low.  

Instead, it’s time to try the personalized local SEO service that cares. 

If you’re ready to boost your brand’s local presence, talk to one of our experts today. 

The post Yext Careers Plummet, What’s the Next Direction? appeared first on Dominate Your Market With Result-Driven SEO | Direction Inc..