Most Effective Business Strategies of Uber’s Rival Taxify- Success Formula for Ride-sharing Startups to Implement
When it comes to global commuting, there are few names that hold significant importance. Business such as Uber, Taxify, Lyft etc are those visionary businesses that transform the way we commute. By making the best use of modern-day technologies and data gathering techniques, they have succeeded in creating an alluring commuting experience that no one could afford denying. Here in this document, we specifically focus on Taxify’s incredibly powerful strategies, the same kind which helps them secure a safe spot among the market-leading businesses.
Taxify- History and Overview
Taxify, the Estonian-based ride-sharing company, was established in the year of 2013. Despite its novelty and lack of experience, it achieves a rapid pace through calculated marketing and customer-centric strategies. The 4-year-old businesses operate around 20 countries and 30 cities, including Europe, Africa, the Middle East, and Central America as of now. In fact, they have a broad customer base with an estimate of over 3 million users.
As Taxify managed to raise a total of €2 million ($2.4 million) through the funding by DiDi, also, another $175 million recently through a new funding by Daimler, they climbed up the chart and become the second-highest valued private tech company in the world. And guess what! They are the first ride-sharing business in the world that enables its users to pay for their trips through mobile carrier billing.
What You Should Really Learn From Taxify’s Business Development Strategies?
When everyone was busy mimicking Uber’s success strategies, Taxify adopted a unique but relatively very effective approach that equally benefits the business, drivers and the commuters. A handful of well-focused, pre-planned and exceptionally executed ideas are the keys to Taxify’s astounding success. From mobile app development to the point where users rate their services, Taxify has considered every possibility of collapse and managed to develop a procedure that tackles those.
Provides Solutions to the Problem-Centered Investment in underdeveloped cities
Unlike other commuting giants, Taxify invested in cities and places where transportation was a real problem. In fact, they choose the poorest African cities where people have to struggle to get access to safe transportation. Not only promoting an efficient public transport system, but also they influenced the economy, and market situation of places no other businesses should consider going.
The parameters Taxify used to choose the cities they wanted to operate was incredible indeed. They chose cities which have more than 1 million residents, and also the ones which have a higher unemployment rate. They not only provided rides but created more jobs while allowing their driver-partners to earn more.
It is because of Taxify’s stronghold in these marketplaces, they have become the biggest rivals of Uber. Also, they considered the economic situation of the place and succeeded in establishing a business that satisfies customers from an entirely different part of the world.
Aggressive Pricing Strategy Focused on Drivers and Riders
“Price is what you pay. Value is what you get.”– Warren Buffet- This is absolutely true with Taxify. In a world so overwhelmed by choices, the one thing that drives the growth is the value your customer received for the price he/she pays. Taxify dared to be different from any of their competitors and showed the courage to break the stereotype. They proposed a novel pricing structure where drivers have to pay only 15 percent commission per trip, whilst Uber charges almost 25 to 30% from their drivers. In consequence, Taxify managed to lower the prices for riders and improve the take-home pay of drivers.
Set Focus on Entering Well-established Markets
Taxify further employed a progressive strategy that centered on introducing and rooting their business in well-established markets such as Sydney and Paris. To their surprise, it was a great success and, in fact, they provided comparatively better services within a very competitive price range that helps them become a strong competitor for Uber or any other similar businesses.
Along with a great pricing structure, they offered better conditions for both users as well as riders. The trend soon became unstoppable and snatched the attention of the world.
Unrivaled Customer Services to Ensure Compelling Commuting Experience
The last but not the least is the most effectual strategy that focuses on all-round customer satisfaction and business credibility. Taxify initiated some of the most alluring approaches that no rider could deny.
- They eliminate the conception o cancellation fees
- They guaranteed lowest surge pricing
- They ensured the lowest waiting period, which is not more than 2 minutes
Aside from all the above-mentioned factors, they made sure maximum transparency, which helps them create a sense of trust and satisfaction among their users.
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