Ever since Uber’s insane success over the past few years, the on-demand industry has been evolving with a volcanic intensity. It has very swiftly taken over the traditional model. From on-demand apps for food to on-demand apps for the salon services- you have independent, as well as integrated on-demand platforms for almost anything and everything. You even have apps like “Wag” for walking Dogs!!!
According to the accounting and consulting giant PWC, on-demand economy will reach a whopping US$335 billion by 2025. National Technology Readiness Survey (NTRS), estimates that by 2022, the total consumers in the U.S. will be about 93 million. These figures clearly showcase the impact of on-demand services on consumers and a very bright future for the on-demand industry.
The on-demand industry is ruling the app development world. Every other tech-savvy entrepreneur is coming up with fresh ideas for start-ups. However, despite having a brilliant concept, not everyone manages to make it big in the market. So, why do these start-ups fail? The key reason is the lack of proper marketing.
So, not beating around the bush, let’s skip to how you can make your on-demand business a great success.
Source: Business Hub
“Customer is King”
…This old-age business mantra means you have to be customer-centric. Customers have all the power. You need to have extensive knowledge of your customers. Know what exactly they require, what are their demands and how things can be made easier for them.
Conduct an in-depth, intensive consumer market research. Once you know what exactly your audience requires, provide them with the solution.
Source: Raven Media
WOM marketing is one of the oldest yet effective organic t marketing technique. It generates curiosity and gets people talking. According to a report by Nielson, 83% of the consumers trust the recommendations of friends, family, and acquaintances over any other advertisement.
88% of people trust online reviews as much as they trust personal recommendations.
Every successful business includes Word Of Mouth in their marketing strategy. Global ride-sharing service, Uber and leading e-commerce store Myntra are the best examples of such businesses.
Referrals and Social Media are powerful marketing tools and the best way to spread your word.
Referral scheme is great for the acquisition of first-time users and earning the loyalty of previous customers. The referral marketing scheme ‘refer & earn’ of many businesses like Zomato and Uber, has been a huge success. It benefits the company and as well as the customers.
Source: Lion Vision Technology
Social Media has amplified the WOM Marketing. The Social Media Platforms such as Facebook allows the marketers to prepare a tailored marketing strategy for their niche audience.
Social Media gives you new leads, chance to know your customer on a personal level, provides an insight to your competitors, build your brand image & brand visibility.
A right marketing stunt can lead your business to an insane success. Brainstorm for some out of the box ideas which will help you grow your brand and will connect with your audience.
Uber can be called a master of stunt marketing. Initially, it delivered passengers. Then it started delivering food with its UberEats service. On National Cat Day, Uber partnered with animals shelters and delivered kittens for 15 minutes across Canada and The United States. Uber used its app to let people hail ice-cream trucks in around 33 cities across the world. And On Valentine’s day, it delivered flowers and personalized cards for $150.
Stunts such as these come as a surprise to your audience, highlight your brand and increases your sale.
Partnership with Brands
Brand partnership is not a new concept. You don’t need a partnership with any just any Brand, you need “Partnership with Right Brand”. Partner with brands which are visible, which will help you to reach new customers and increase your brand exposure.
Take Nike and Apple for example.
You launched your product or service in the market. Now what? How do you earn your initial customers?
To acquire your first users you need to do all you can to reach your audience, even the bizarre things. Think of Reddit and Tinder!
Reddit initially made tons of fake id’s and used them to interact with each other. The technique, though a bluff, solved the chicken and egg problem, or in there case user and content problem.
Convincing the college students was a challenge for Tinder. So how did they get the attention of college students? They threw parties!!, (Tinder launch Party)…and made entries exclusive to only those who had Tinder in their phones.
Source: LA Guestlist
“I’d take out the app and say “Oh this is interesting! Who told you about this great app called Tinder?” and yell it in the coffee shop, so people keep hearing ‘Tinder'”, says Sean Rad, CEO of Tinder.
Customers drift away very easily. So, how to do ensure your customer retention?
Reward your customer loyalty with exclusive offers, discounts, credits, cash-backs – such lucrative offers tempt the customers to buy your product or avail your services. It will not only increase the demand but also give you loyal customers.
Sephora Beauty Insider is one of the best examples of the Reward scheme. Customers earn rewards for each purchase and the plus point is that members can choose how to use their reward points.
Go Global, Act Local!
Businesses never stop evolving. If you want to expand into the Global Market, make tailored strategies for every different market place you enter. Your brand strategy won’t work the same for every market.
Study the local market, get inputs from local marketers and be open to changes. Embrace the local market. Understand that the requirements of people are not the same everywhere.
Mc Donalds and Dominos have a great localization strategy. They update their menu and topping choices to incorporate local tastes and food preferences. For example, in India, most of the offerings at Dominos are localized according to the Indian taste.
Did we miss any important point? We’d love to add-on to our knowledge.
Do you have any queries about developing an on-demand app? Do you want to hire experts for developing an uber like on-demand app?
Idea usher would love to help. We have years of expertise in app development. If you want, we can provide you with a demo.