5 Important Lessons From Uber's Growth
You've definitely heard the term "uber like app development" a million times if you're interested in mobile app development or anything related to it. That is how Uber has affected us all. It affects people's daily lives, entrepreneurial ambitions, the startup environment, and how people do business and sell ideas. Read this complete guide to learn some important aspects related to uber like app development.
Solution #1: Always Build A Solution For Real-World Problems
Products and services that are created to solve real-world problems gain traction rapidly and are well-received by customers. Invest in fixing real-world problems with technology if you want your target market to accept a product.
Uber's founders used mobile technology to transform the transportation industry. With their solution, they recognized and addressed the following difficulties with the current transportation system:
Problem #1
The founders observed that there are significant infrastructural issues in many cities throughout the world, that taxi companies are unable to address. Taxi companies do not provide excellent service and those that do charge outrageous rates that few people can afford.
Uber solved this challenge by supplying cabs at considerably lower prices than traditional taxis, and it soon gained traction among customers.
Problem #2
They discovered that, while drivers are important in ensuring that cab booking customers are satisfied, there was no way for customers to hold drivers accountable for what happened during the trip. They didn't always know the name of the driver.
As a result, Uber was able to address the three issues stated above for its customers while also generating significant traction. If you want to create a solution similar to Uber, make it a point to include features that assist your users in solving real-world problems.
Solution #2: Global Expansion is Not a Choice But Necessity
If your product's revenue is reliant on the number of services supplied, make an effort to develop a scalable company plan to optimize profits. Uber's business plan was created to make it easier for the company to expand into new markets and add more customers to its database. Uber has always placed a premium on scalability. When it entered a new market, it did so with a warlike mentality and a will to succeed.
Initially, Uber addressed each city as if it were a brand-new operation, and it took a lot of work. Uber's crew devised a checklist for expansion and grew swiftly to save time and money. The following was on the Uber expansion checklist:
- Secretly enter a new market
- Ignore legal difficulties and do nothing about them.
- Maintain a positive image in the public eye.
- Obtain assistance from local charities.
- Market monopolization
A brand-new local team led by an entrepreneur who used to work directly with Kalanick, Uber's CEO at the time, designed the checklist. Uber's expansion strategy involved acquiring competitors as well. Soon after its launch, it bought 38 percent of Yandex Taxi in Russia, 15.4 percent of Didi in China, and 23.2 percent of Grab in Southeast Asia.
Solution #3: With Thriving Startups Come Thriving Scandals
Uber is a well-known app that has revolutionized the global ride-hailing sector. However, as previously said, it was widely condemned by the general public as well as governments in several countries.
While some customers claimed that Uber drivers sexually assaulted them, others filed lawsuits against them for a variety of reasons, including demanding greater fees. Some of the stories were true, but others were never spoken again after they had been told once.
As a result, if you're beginning a firm, you'll need to be prepared to cope with these crises and make the most of any negative publicity that comes your way. Customers were Uber's future, and they aided them in combating the claims and prevailing.
Solution #4: The Omnichannel Nature Can Help You Scale
The most crucial part of Uber's growth strategy is its seamless omnichannel nature. Uber's solution only dealt with one facet of the issue. In fact, it invested money in the whole thing. From smartphone hailing to improved autos, frictionless payments, and driver rating, the product tapped into consumers' lives in a revolutionary way, and no one could stop the market from adoring it.
This is only one illustration of Uber's omnichannel strategy, but it doesn't stop there. The brand improved the omnichannel experience in the following ways:
- It partnered with Facebook Messenger to let users order a cab from within the messaging app. It's as easy as texting a friend and requesting a ride.
- Uber has set up actual kiosks with breathalyzers in numerous locations across the world for bar patrons who couldn't catch a ride late at night.
- It launched UberEATS, a fast-food delivery business with an app that is owned and controlled by the firm.
- Uber also offers UberRush (a business-to-business delivery service), UberHealth (a flu vaccination delivery app), and UberEvents, which is attempting to cash in on the multibillion-dollar wedding industry.
While your firm is unlikely to provide as many services like Uber, their marketing technique can teach you a lot. They're merging data and mobile technology to provide a holistic client experience.
Solution #5: Be an Early Bird – an Important Factor Behind Uber’s Growth
Uber was the first technology company to offer revolutionary transportation services, and its first-mover advantage helped it achieve a sizable market share. As we all know from the Uber vs. Lyft argument, Uber has always had a better brand image than its competitors.
If you're the first to market, you'll leave a lasting impression on customers, and your brand name may even become the service name. In the United States, for example, "let's book an Uber" is more common than "let's book a cab." They will book whatever service they desire.
The easiest method to reduce your time to market is to create a Minimum Viable Product. If you have a concept, test it by producing a minimum viable product (MVP) and capitalize on the first-mover advantage.
Conclusion
Uber has always been and will continue to be the poster child for how sharing economy businesses can prosper. You can apply the principles acquired from Uber's growth and success to your own firm to flourish in the market. Despite countless setbacks, the company has always emerged stronger and has never imploded. Look to Uber for inspiration if you think you won't be able to scale in a market controlled by established methods.
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