The ride-hailing industry continues to grow, but if you want to be successful in the space, you need to figure out how you will go toe-to-toe with Uber and Lyft. While these companies have significant resources and a strong brand, you can still thrive in the market by focusing on your strengths and finding ways to differentiate yourself from larger competitors.
In this article, we'll examine a few techniques your business can leverage to take a bite out of Uber and Lyft's customer base.
Your niche refers to the area of the market you serve best. Your niche is the segment of customers your rideshare service is designed around. E.g., The rideshare company Wingz focuses on getting business travelers to the airport.
By identifying your ideal customer, you can tailor your service around their needs. Because of their size, Uber and Lyft have a hard time getting really specific with their offerings.
The size of your business allows you to be more agile and targeted. Here are a few ways rideshare services like yours can offer riders more personalized experiences.
Another way your fleet can compete with Uber and Lyft is by offering different pricing options.
Both Uber and Lyft use dynamic pricing to charge customers, meaning the price of a ride changes based on demand, time of day, and other factors.
To stand out, you could offer a fixed pricing structure. Fixed pricing doesn't change with demand. Consumers tend to lean favorably towards predictability. The rideshare company Gett famously gained traction in New York by guaranteeing that riders would only pay a flat rate of $10 if they traveled within a certain area of the city.
Consider experimenting with less traditional pricing options. For example, you could charge drivers a flat rate for your company to facilitate the ride, then allow drivers to set their own price.
Customers who feel taken care of are more likely to frequent your service.
Uber and Lyft are so large that it is difficult for them to build strong relationships with their customers.
By providing excellent customer service, your fleet can create a loyal customer base that will continue to use your services. This can be achieved by providing a personal touch, such as having a dedicated customer service representative or actively seeking feedback from customers that you use to improve your service.
Why creating a great customer experience will help your rideshare business win:
Independent fleets can have an advantage over Uber and Lyft when it comes to compliance.
Some states have specific regulations for transportation providers, which can make it more difficult for Uber and Lyft to operate. Independent fleets that are fully compliant with these regulations can have a competitive edge in certain markets.
It is worth examining regulations in each of the areas you do business to find ways you might be able to outcompete Uber and Lyft. For example, you might find that there are cities that allow ridesharing apps but have banned Uber, allowing your business to operate with less competition.
If you are competing against the major rideshare apps, you need to make smart plays with your money and time.
A premier fleet management solution like EverTransit can help you automate and streamline many parts of your rideshare business. Allowing you to keep costs down and provide a better customer experience.
With EverTransit, you can
EverTransit makes managing your fleet and keeping costs down effortless. With three pricing tiers designed for every stage of your transportation business journey, EverTransit is the co-pilot you can always count on.
With a system like EverTransit, independent fleets can streamline their operations and keep up with the competition.