The ride-hailing market will reach a massive valuation of $1588.2 billion by the end of 2024. Need another compelling stat than the above? Well, Uber has approximately completed 1.7 billion taxi rides by Q2 of 2020. These are positive signs that the online ride-hailing market will witness a positive trajectory in the upcoming years. The market expects new players to embark on their arrival via groundbreaking ideas that have the potential to change the taxi industry forever.
The COVID-19 pandemic has halted proceedings, but the century-long taxi market will regain its feet in the shortest possible time. An efficient entrepreneur can utilize this standby time to sharpen their ideas and visions. Are you one such entrepreneur who aims to foray into the on-demand taxi app sector?
This blog narrows down a list of strategies to consider while launching a taxi business in the post-COVID-19 world. Besides, the blog discusses the impact of efficient taxi dispatch software on a taxi business’s success.
Table of Contents
Manage your business wisely – Trendsetting dispatch software
In today’s fast-paced world, having supervisors to take care of the entire proceedings is a tedious task that can lead to a loss in productivity. With businesses moving rapidly towards the digital space, it is high time you opt for an ultra-modern dispatch software. Automating the entire process of ordering and dispatching will inevitably lead to increases in productivity and hence sales.
Some of the disadvantages of manual dispatching methods include,
- Unable to process orders efficiently during peak hours
- Prone to mistakes and errors due to human intervention
- Regular salary for supervisors can be quite challenging
A world-class taxi dispatch software overcomes these challenges by,
- Hassle-free customer service
- Bridging the gap between customers and drivers effortlessly
- Analyze demanding areas and reroute drivers accordingly
Digitizing a traditional taxi business setup will only take a matter of a few days, but the impact remains forever. A majority of cab agencies have already succumbed to the online trend and have witnessed a massive rise in their business proceedings.
Building a brand – Different marketing campaigns
While developing a taxi app is easy, making it successful depends on the entrepreneur’s finesse. However, with the right marketing campaigns, one can elevate the platform and reach out to a broad audience base. Here’s a list of different marketing campaigns to consider for your taxi app.
Leveraging social media – Social Media Marketing Campaigns
An average Internet user has a minimum of 8 social media accounts. In this era of smartphones, there’s no better branding than social media marketing campaigns. There are numerous social media marketing tools that can help you reach out to the right audience. Some of the attributes of social media marketing campaigns include,
- Effective lead generation by building a captivating landing page and directing users towards it via efficient links.
- Segregating customers based on their engagement rates, thereby drawing new visitors with valuable insights towards the platform.
- Displaying appropriate ads on Facebook, Twitter, Instagram, etc., to stay on customers’ radars.
- Making use of third-party data to understand what customers are expecting from a taxi platform and making corrective actions accordingly.
Social media marketing is one strategy that you needn’t miss out on in 2021.
Personalized Emails can do wonders – Email Marketing still works
Email marketing has been prevalent as an effective marketing strategy right from the olden days. Emails are an effective way to maintain a consistent relationship with existing and new customers. Email marketing comes with exciting benefits like,
- Enhanced sales
- Brand promotion
- Effective customer engagement
- And so on.
Besides, Email marketing can help you send personalized messages to customers by sending blog links, whitepapers, e-books, exciting deals & offers on products, etc.
Email marketing helps you grow a massive network by increasing subscribers list from time to time.
PPC Campaigns – An effective way to drive traffic
Although an inorganic marketing technique, PPC campaigns help you grow your website visitors in the shortest possible time. In PPC, you pay whenever customers click on your ads and reach your website.
PPC campaigns can do wonders if you target the right audience with the right strategy. A lot of successful taxi companies out there leverage Google Ads and witness enhanced traffic. Besides, with PPC, you can modify your approach from time to time based on the existing market conditions.
Video Marketing – An Eye-opener in every aspect
According to a recent report by Tubular Insights, almost 64% of consumers purchase after watching branded social videos. In today’s fast-paced world, videos are an ideal way to lure the audience. For instance, you can introduce skippable and non-skippable videos for your taxi business. Although video ads are short-lived, they can help in enhanced brand reception among the target audience.
Skippable ads are those videos with short-length that viewers can skip after a fixed time. Skippable ads can be further differentiated into in-display ads and in-stream ads. In-stream ads are those that appear at the beginning of videos, while in-display ads appear as fixed suggestions.
Non-skippable ads are those that viewers need to watch completely. Although non-skippable ads gather attention from customers, it is often advisable to opt for skippable ads.
YouTube currently has more than 2 billion active users. Leveraging such a video platform will invariably lead to better results and engagement rates among the audience. Introduce USPs in the form of jaw-dropping videos and garner the attention of the audience in no time. On average, with visitors spending 11 minutes and 24 seconds on YouTube every day, a 5-second ad video of your Uber clone app can make such a huge difference to your business in the long run.
The need to turn digital has made businesses explore the on-demand app market space. The success of apps like Uber & Lyft is concrete examples of the fact that the market can help an entrepreneur catapult their visions into a superlative taxi empire. As an entrepreneur, all you need is the assistance of the right app development company. With innumerable marketing campaigns and efficient dispatch algorithms, make an everlasting presence in the exponentially-growing taxi business vertical.