Uber began in 2009 as a luxury car service in San Francisco. It is today valued at over 40 Billion Dollars and has been described by Forbes as being “light years ahead of every other Silicon Valley startup vying for headlines.”.
But what has caused this amazing growth?
According to GrowthHackers Uber’s growth was due to the fact that catching a taxi and paying for the service was never a positive experience. Uber got a common everyday negative experience that was perceived as unchangeable and turned it into a smooth positive customer experience.
By focusing on problem-solving to create a smooth experience, Uber set out to reimagine the full experience making it intuitive and seamless and enjoyable for all users.
“They didn’t fix one aspect of the system they tackled the whole experience from mobile hailing, seamless payments, better cars, to no tips and driver ratings.” Morgan Brown, GrowthHackers.com
By thinking big and pushing further they were able to create a wow experience that has totally redefined what it means to use a taxi service; this naturally fuelled a wave of word of mouth advocacy and PR.
As Max Crowley of Uber Chicago explains: “We’ve found that our growth is driven substantially by word of mouth. When someone sees the ease of use, the fact that they press a button on their phone and in under 5 minutes a car appears, they inevitably become a brand advocate.” Max J Crowley.
Uber has become one of the biggest start-ups to ever exist, by adapting their launch plans to suit the unique topology of each new market. This fuelled unprecedented growth exceeding large internet companies like AirBnb and eBay.
Offering free rides to what they knew was a wow experience meant that ‘their free ride strategy’ could be used to trigger more word of mouth where and when required. The product and service were so good that everything else followed.
Uber truly disrupted the market by taking an established infrastructure and utilising it in a totally new way.
Their approach is future looking and totally in synch with the Millennial generation because it focuses on the experience.
Read more about Uber’s growth:
What’s fuelling Uber’s Growth - https://growthhackers.com/companies/uber/
The five keys to Uber’s Valuation: http://www.forbes.com/sites/jonathansalembaskin/2014/12/05/the-5-keys-to-ubers-valuation/
Uber on Wikipedia: http://en.wikipedia.org/wiki/Uber_%28company%29[Video] How Uber is democratising the automobile: http://bigthink.com/videos/peter-diamandis-on-the-future-of-driving