Posted by We re-imagine the way the world moves for the better
– Uber Mission Statement
As you read the lines above; you get an understanding that ride-sharing apps like Uber have been responsible for transforming the way riders commute from one location to the next. It has also encouraged new ride-hailing ventures to develop Uber-like taxi app to propel their business ahead.
This is what I will cover in the article here.
Table of Contents
- Uber Business Model
- Role of Uber in Empowering New Ride-Sharing Ventures to Develop Apps like Uber
- What is Uber Clone?
- How Does Uber Clone Work?
- Advantages of Uber Clone for New Ride-Sharing Ventures
- Strategies to Adopt during Uber Clone App Development
- Ending Words
So, let’s begin.
Uber Business Model
‘Movement is what we power…. It runs through our veins…. For all the things you want to get. For all the ways you want to earn. Across the entire world. In real-time. At the incredible speed of now.’ Reading these lines, you can observe the principles upon which this ride-sharing giant is based.
This suggests that the model for this business will be quite innovative too.
Have a look below to get a visual depiction of this model.
The image above depicts the different constituents of the Uber business model. This includes the following elements listed below
- Key partners
- Key resources
- Value propositions Uber believes in for riders and drivers
- Strategies they adopt for maintaining customer relationship
- Channels they use to reach out to customers
- Customer segments involved
- Cost structure
- Revenue Generating Streams
In the lines below, I explain all these points in detail. They will help you to understand the techniques that the ride-sharing giant has adopted to make itself a formidable name in the market.
Value Propositions Uber Believes in for Riders and Drivers
For Riders
- Real-time tracking
- Accuracy in ETA (expected time of arrival)
- Ease to avail cashless rides
- Convenient to choose a ride from multiple ride options
For Drivers
- Earn a good income
- Lowering down idle time and receiving new ride requests
- Vehicle loan support
- Better ride allocations
Having an idea on the value propositions, we now move to the next area.
Key Partners of Uber
Uber has two main partners- one the drivers, and the second, the investors. The drivers obviously, as they help the company generate revenue through providing rides. Next, the investors, go on to assist the organization in two main areas, one- develop themselves, and second, reach their other levels of performance. Side-by-side, they also bring the initial rounds of funds to bring new solutions to action, and so on.
Key Resources
There are two main resources that the ride-sharing provider uses, one is the platform for connecting drivers and riders to one another. And, second is the Uber brand itself used by almost all the cities where the company finds its operations.
Channels Used to Reach Out to Customers
Uber uses these two main channels for reaching out to customers, the first being the social media platforms, and the second, is the app stores, that is Google Play Store (Android), and App Store (iOS) where riders and drivers both download the respective Uber apps.
Strategies Adopted for Maintaining Customer Relations
Placing a strong focus on the customer, Uber ensures keeping clarity in time and price. They emphasize the security and privacy factor too. These ensure keeping the user at large interested in using it. Simultaneously, they focus on the driver and regulator too. Therefore, it becomes necessary to ensure that the work environment is as attractive as possible, along with the payment conditions too.
Customer Segments
The ride-hailing giant has two main customer segments, riders, and drivers. When I use the term ‘rider’, it signifies the segment that avails rides to travel from one location to the next. On the other hand, when I talk about drivers, they are those segments who are focused on providing rides and earning a good amount through the same.
Cost Structure
This segment focused on maintaining the platform and marketing the same. This is to get new customers. Therefore, when I talk about the cost structure of Uber, what I wish to state is the Customer Acquisition Costs which include the legal costs, the credit card fees, and so on.
Revenue Generating Streams
Uber makes revenues using two main methods-
- Charging a particular percentage of commission to drivers after every ride
- Earning through every order that gets placed on UberEats
Having an idea now of the business model of this ride-sharing giant, you can understand clearly that it has a piece of good knowledge of the market. This allows them to gain insight into the strategies they need to adopt for ensuring that in the market they go to, they can earn the maximum amount of customers too.
All these factors have thereupon encouraged new ride-sharing ventures to build solutions similar to this to attract maximum riders towards their solution and grow their visibility to a great extent.
In the lines below, I discuss this in more detail.
Role of Uber in Empowering New Ride-Sharing Ventures to Develop Apps like Uber
Due to Uber making rides easy to avail, apart from making it easy for drivers too to earn a good income, and finally due to the helping hand it gives to the ride-sharing industry at large to grow their visibility and customer base, has helped Uber become a source of inspiration for new ventures too.
They have been thereafter encouraged to build Uber-like taxi app so that they were successful in building a strong online presence. This has led them thereupon to adopt a Uber clone app.
Here’s all you need to know about this solution.
What is Uber Clone?
Being an on-demand taxi booking software, Uber clone helps new businesses to grow their base exponentially. As a result of having modifiable elements in them, entrepreneurs can customize the solution as per their convenience based on their future business requirements. Alternatively, since the solution is responsive too, therefore they can run the app seamlessly across different platforms too.
These factors go on to make this solution so popular after all, thereby encouraging new ride-sharing ventures to embrace Uber clone app development. Doing so will allow them to not only be successful in building a strong online presence but simultaneously would also allow them to add new features as and when their business demands them to do so.
Having awareness now of Uber clone, let us now try to understand the functioning of the solution.
In the lines below, I explain the same.
How Does Uber Clone Work?
Uber clone works in the same manner as Uber.
- Riders create the ride request after they login to the app by adding their pickup and drop location
- Riders get connected to a driver nearby in their vicinity
- Rider confirms ride and adds mode of payment
- Driver receives ride request, and they accept it
- Driver reaches the rider’s location
- Rider avails the ride
- Rider makes payment based on the payment mode they select from the different options like card, cash, etc
- Ride gets completed
Thus, being extremely easy to operate, more and more of those who are particularly entering the market to deliver unique ride experiences are encouraged to use the solution.
This is due to the advantages listed below.
Advantages of Uber Clone for New Ride-Sharing Ventures
Being a ready-to-use taxi app solution, Uber clone assists ride-sharing businesses to transform the way they operate. This means they can revolutionize their traditional mode of providing rides and make it digital. This also includes scaling up their services. All this is to ensure that the ride-sharing venture goes on to become a formidable name in the market.
Here are some of their other benefits.
- Runs seamlessly across different platforms like Android, iOS, and the web
- Helps businesses to be aware of their overall progress and profits too
- Makes it easy for drivers to get tipped for every ride they provide
All these factors in turn make it necessary therefore for ride-hailing businesses, particularly those who are new to the game to adopt the Uber clone app. This will help them to drive their ride-sharing venture to the next level of success. Simultaneously, they would be able to make considerable revenues and earn a good customer base too.
It is however recommended to adopt some strategies during Uber clone iOS app development so that businesses can achieve these two aspects successfully.
Strategies to Adopt during Uber Clone App Development
· Go Beyond What You Offer
Remember, someone’s loss is someone else’s gain. This goes true for a customer too. In a situation whereby they get faced with a challenge; they would be encouraged to utilize a readily available solution.
This goes true especially when you talk of ride-hailing solutions. If a ride-hailing solution suddenly dysfunctions, users would be forced to use another one.
Hence, while building a Uber clone app, try to think beyond what you offer. Include features, interactive videos, and so on into the solution. This will ensure that until the app goes back running again, your business is at least successful in retaining its existing customer base.
· Keep the Processes as Simple as Possible
Including a FAQ is the best way to go about it to ensure that your users can seamlessly operate the solution. This also includes keeping a customer support feature handy within the solution too. This will ensure faster query resolution in a situation when the user may be stuck while operating the app.
· Understand the Business Model of Uber
Uber adopted a business model that took all the key partners like drivers, riders, investors, and so on into strict consideration. This led them to create an MVP (minimum viable product) that generated maximum value.
Therefore, it is best to create a prototype of your solution. This will help you identify the elements that require modification, and so on.
Simultaneously, keep the focus on the areas listed below-
- Remain aware of the current trends, and utilize the ones that will garner a wider audience
- Minimize the cost expenses as much as possible. This will drive more revenues in the long run
- Choose your revenue model wisely from ones like commissions, surge pricing, offering premium rides, charging cancellation fees
By adopting these techniques, you will be able to create a taxi app that drives maximum value in terms of customers and profits.
Ending Words
Uber has helped reinvent the overall ride experience making rides easily accessible for riders. It has also opened doors to new job opportunities for drivers. Finally, its business model has encouraged new ride-sharing providers to build solutions similar to this however without consuming too much time or finances.
This led them to adopt the Uber clone app. This allowed them to make quick profits and earn maximum customers from Day 1 itself!
So, if you are also one of those who is getting into the journey of Uber clone app development, it is recommended to place focus on three areas-
- Recent trends
- Tech stack to drive your business ahead
- Techniques that would help generate maximum revenues
You can alternatively get in touch with a taxi booking app development company. Examine the services they provide, analyze the techniques they adopt during Uber clone app development, and go ahead. This will certainly go a long way in determining the success of your solution and ensuring you make maximum profits and earn maximum customers too right from Day 1!