Have you ever wondered about how Uber has become successful? What is so special about Uber that made it a business model worth coveting? If you plan on knowing more about it, then this blog is just for you!
Here, you’ll get to know the core concepts that serve as lessons to be learnt from Uber. And it could even give you the chance to adopt it for your on-demand business!
What Uber is and how it works?
Uber is an on-demand taxi booking business. The business model constructed by Uber concentrates on making taxi booking as convenient as possible for the users.
It has been one of the successful business models in the market, as the services are affordable and have ease of booking. Uber provides constant new features updates and other unique updated versions for its users to be satisfied with the marketplace.
7 lessons to be learnt from Uber:
These are the top 7 success factors of Uber that have to be taken into consideration if you are planning on starting an Uber-like business.
1. User-friendly apps:
The apps are developed and designed to make them extremely user-friendly for the users (both the rider and the driver). The user experience is key when it comes to app-based business.
Uber has received a user rating of 4.4 out of 5, on average based on 84,57,610 total reviews on the Play Store and that is something that Uber is constantly working on, to be the number one.
2. Acting immediately on a bad review:
Engaging with the users is a major part of running an online business without any hindrance. When you don’t acknowledge and act on the reviews given by the users, they are going to swap to the competitors.
And Uber has been very serious about its reviews and customer support.
3. Value-based pricing:
Have you noticed in Uber – when there is pouring rain or you plan on taking a cab at 3.00 AM, the ride fare differs?
Yes, this concept is called surge pricing! This has been used as the growth strategy of Uber to serve the users better because every one of them will be needing a cab during situations like this.
They make it a point to be serving the right customer at the right time. And also the pricing is very transparent in Uber. The riders will get an estimated fare when they book their cabs. This helps the riders to know whether the ride fits within their budget or not.
4. Using first entrant advantage to the fullest:
Uber is the first app-based taxi booking business that has shown tremendous growth. This means Uber had the first entrant advantage which has been very well utilized to make a name and flourish as a brand.
The first entrant advantage is also known as the first-mover advantage. It means when a brand or a business model is being introduced in the market for the very first time it has certain perks as it is new and exciting to the end-users. It can be both highly beneficial or a flunk very badly.
5. Clearer cars and safer rides:
The rider’s satisfaction not only comes with a fancy-looking app that is user-friendly. The rides have to be as pleasant as the booking experience. Any taxi business has to concentrate on having cleaner cars and making sure that the riders are safely dropped at their destination.
With COVID- 19, it is important to assure and remind about precautionary measures. Perhaps, a precaution notification for the riders can be introduced to make sure the safety of the riders.
The communication between the riders and the drivers has to be seamlessly maintained. The drivers must provide their contact information while registering on the platform and so should the riders.
When the booking is made, the drivers and the riders must be able to contact each other. Uber does have this facility and so should the other taxi dispatch apps.
7. Very futuristic business model:
Any business model has to be further developed when needed. To begin with, the apps have to be scalable as the business grows. That is one of the major parts of introducing an app into the taxi booking-based business.
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Have more questions?