Growing Your Business: Lessons from Uber on Fueling Growth
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Transcript of Growing Your Business: Lessons from Uber on Fueling Growth
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Growing Your BusinessLessons from Uber on Fueling Growth
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This has caused:– The taxi industry to be disrupted.– One transportation brand to be in over 70
cities.– Over $1.5 billion dollars raised for expansion.
Uber has quickly become a large transportation company
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So, how exactly did Uber grow?
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• They did this to:– To quickly reach early tech adopters.– Address inadequate cab service in the
city.• They did this by:– Sponsoring events (free rides galore!).
These free rides led to strong word of mouth growth.
Launched in San Francisco First
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• Widespread taxi driver protests brought mass awareness to the Uber service.
Controversy Supercharged Growth
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What Worked in San Francisco has Been Repeatable
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Uber created unique and relatable experiences for each city that they launched in.
Big launches, city-by-city
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Uber offered free rides for referrals. This is a win-win because they got people to use their social capital to share the Uber service, while also making current customers more loyal customers.
Free Rides!
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The Uber experience is great because it’s simple. Just press a button, a car comes to you, and payment happens automatically.
Great experience
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Most of Uber’s growth came from its referral program. In addition to the referral program they offered, using the Uber experience was a great way to impress friends. If one person brings four friends who have never been in an Uber along for a ride, Uber potentially just got four new customers.
Word of Mouth Growth.
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• Created a great user experience that was able to fuel growth.
• Built a fun and easy to use product, while making it easy for customers to share the product and its benefits with friends.
What Uber Did Best:
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It all starts with a great website. Leave first time viewers with a great impression and impress the customers you already have.
Fuel the Growth of YOUR Business: