Singapore-based ride-hailing app Grab has caught the attention of users in the Asian market as much as its counterparts from the US market. The tremendous growth of Grab is compared to the leading ride-hailing giant – Uber. This explains why you should do a complete study of the business structure of Grab and the strategies it used to take over the market by storm before planning to step foot in the ride-hailing app business sector.
Though Grab operates only in specific regions, the popularity it gained in the ride-hailing market is quite impressive. It is attributed to a list of things that Grab took care of to rock in the market. Here’s the learning you should gain from the ride-hailing app business company Grab.
Addressing the pain points of customers
One of the primary reasons for the giant to have a leg up in the market is owed to the fact that it takes customer service seriously. Grab has understood that every customer has unique needs, which are to be studied thoroughly. The understanding of their obligations has let them in the development of an app that addresses all their pain points.
The main attraction of the Grab app is its chat option – GrabChat. This has helped the commuting in foreign lands a cakewalk for its users. The users can use the same app in eight Southeast Asian countries, namely Singapore, Indonesia, Malaysia, Thailand, Vietnam, Philippines, Cambodia, and Myanmar.
The learning you should get from the above point is that you should treat the customer like a king. Understand their requirements to build an app like Grab. If you do so, it will grab the user’s attention to your business as much as the attention that Grab has received.
Expanding the business gradually
Grab doesn’t take over the Asian market overnight. The giant first started in one part of the continent, which upon success, expanded to other regions. If you think of setting up your ride-hailing business globally, first make sure you have a rising hand in one market and look for ways to expand gradually.
Offering a wide range of services
Grab, which started as a ride-hailing app business, has expanded its business to other verticals in a few years of its inception. Various services of Grab include GrabTaxi, GrabCar, GrabBike, GrabExpress, GrabPay, GrabFinance, GrabFresh, GrabFood, etc.
Once you earn the right name for your brand, it helps your business in other verticals to flourish, as well. If you plan to expand your business vertical in the future, then you should spend quite an amount of time and effort in branding your company.
Taking care of the major stakeholders
Drivers are the key stakeholders of a ride-hailing business, and they serve as the front face of your company. Keeping them satisfied is a must-to-do thing for any ride-hailing business. Grab has understood that, making it come up with GrabFinance and GrabInsure.
GrabFinance offers finance programs for the on-the-go lifestyle of its driver-partners. With GrabInsure, the driver-partners are provided with tailored insurance plans, as and when required. All these facilities let the drivers stay loyal to the company.
Gaining investors one at a time
Grab has received investments for its expansion from many funding series conducted over the past years. This shows that gaining investors becomes relatively easy for your business if you have a leading hand in one market. So start small and grow big, slowly yet steadily.
Integrating easy-to-use features
The use of an application is to make the life of the users easy. If your app includes complex features, then the user won’t return to your business again, especially with the availability of several competitors in the market. Grab has features that can be easily used by any customer. It has included all the necessary features that are needed by the end-user, enabling the seamless functioning of the app.
For instance, enabling GPS functioning in both the customer and driver app will let both the entities to be aware of each other’s location. In such a case, the driver would know where he/she has to pick and drop off the customer. Also, the user doesn’t need to worry about the arrival of the taxi as he/she is given the facility to track the driver throughout the riding process.
Study the competitors and arrive at a list of features that you want your ride-hailing app to accommodate. Along with the basic features, try including some advanced features that can make the lives of your customers easy. This will make the customer choose your app, among others, for their rides.
We hope this article has given you enough ideas to help you set up your ride-hailing business. To start with, you can opt for Uber clone apps rather than building an app from scratch. Several app development companies offer Uber clone app scripts that can be personalized based on your requirements. It saves you time and effort and helps you launch your app in the market in a flash.
Jennifer Atkinson is a Growth hacker & marketer for Appdupe – app development company focused on providing ready-made app solutions. She loves to find new business ideas and helps startup entrepreneurs with business consultation. She has a specialty in writing about startup ideas, feasible business recommendations, etc.