Uber, a rideshare company, has had tremendous growth and is now one of the world’s most valuable tech firms. It is a super useful simplification of a service that was previously clunky and challenging for users.
It is difficult to find anyone that doesn’t have the Uber app on their phone, and with Uber providing cheaper rides for the masses in clean and comfortable cars, with immediate feedback, it’s not hard to see why.
All of this from a mobile-first company.
With investment from giants such as Google, the company is set up with integration into Google Maps, suggesting the option of an Uber rather than walking or public transport and keeping the option front of mind.
Development of the service with advances such as Uber Pool, where riders share the cost of the cab if they are traveling the same way, means that user uptake is continuing to fuel growth.
The data that Uber has available is valuable. Users have to disclose their location and specific time of pickups. This could be information that is perfect for brands to define audiences and reach them in the most relevant space and mind-set.
Uber currently makes profit from fees on rider fares; Uber advertising could be the next evolution for the tech innovator.
Is this the obvious next progression with the app? With this additional revenue, ad-supported rides for users could become cheaper or even free in return for advertising opportunities while users are waiting for their Uber to arrive. Uber would offer a premium opportunity to reach key audiences, backed up with true data.
With market changers such as this, it’s always useful for advertisers to keep on top of the developments and potential opportunities.
One hotel brand has already partnered to increase loyalty, which shows forward thinking in reaching an audience. This also helps the brand stand out in a crowded advertising marketplace, encouraging engagement with apps to reward a dedicated audience.
This is just my opinion from a media perspective on one company and where its future could go. However, there continue to be tech innovations that change markets (particularly in mobile), and they will continue to mature. As they do, advertisers need to keep abreast of these technical advances that provide more robust opportunities to reach an audience.