June 2014 – How to increase your customer base 850%, Uber-style.
How to increase your customer base 850%, Uber-style.
The evolution of technology presents a continuous challenge to business models – but it also allows old and new companies to gain unique competitive advantages.
A recent example is Uber, a company that has developed smartphone apps that allow riders to book livery and ridesharing services with drivers. But the established taxi industry in Europe, threatened by Uber’s growth, has responded by organizing protests claiming the company evades licensing and tax regulations. US taxi drivers are also not pleased.
In business, any response or action can have intended and, sometimes, unintended consequences. Publicity from the European taxi strikes put Uber on “top of everyone’s minds” and led to what Uber says was an 850% increase in sign-ups in just one week.