Yell is to switch its core business online, phasing out its iconic ‘Yellow Pages’ directory within four years.
The move will see Yell revamp as an online hub for local businesses, as consumers increasingly look to the web for information.
Yell, which employs 2,900 staff in the UK, sees 75% of its business being online within four years, compared with 25% at the moment.
Yell will also start selling services to firms registered on its site, such as loyalty schemes, marketing initiatives and computer software to help with their accounting and payment schemes to save them money on financial transactions.
The plan – aimed at returning Yell to growth by 2015 – is expected to be implemented within three months, though the “eMarketplace” concept is yet to be given a name.
“It will be a single site where consumers can get access to all their local merchants and understand what services they offer,” chief executive Mike Pocock said.
The Reading-based company believes the wider strategy could increase the size of its market by 10 times to £280bn.
Yellow Pages has been in steady decline but remains popular in many rural areas where broadband internet access remains patchy.