The global pandemic did take a toll over the ride-hailing industry for the past few months. However, the sector has started regaining its prospects as commuters are gradually switching to the new normal.
Now is the time to start your ride-hailing business and if you can rightly address the market demands in sync with the new lifestyle, you can achieve business growth in a short span of time.
Here are a few key strategies to take into account when you start a new ride-hailing business post COVID-19.
Conduct market analysis
The first step to starting your ride-hailing business is to have a clear understanding of the target market. Mobility protocols differ from one region to the other post COVID-19. Take into account the transport restrictions and relaxations applicable in different demographic zones followed by the pandemic. Only when you get to know what your potential customers need in compliance with the current legal terms, you will be able to provide them with suitable transit options while catering to individual requirements.
Think out of the box
Revenue generation is the prime purpose of any business and transportation is no exception. Apart from providing ride-hailing services, explore other transportation-related verticals including food and grocery delivery and more.
As a greater part of the community remains confined to their private spaces due to the panic invoked by the COVID-19 outbreak, on-demand delivery is quite the catch now. Use your driver-partners to make doorstep delivery of essentials in addition to accepting rides.
This way, you create multiple pipelines to generate more opportunities and thereby increase cash flow into your business.
Digitize your business
Traditional ride-hailing practices are obsolete these days. Besides, commuters prefer transit choices that promise not only comfort, but also minimal physical contact.
Build a digital solution to facilitate your customers to book their rides in just a few clicks and make zero-contact payments from the passenger app on ride completion. This way, you give your customers risk-free and quick access to transportation services especially given this unpredictable time.
Additionally, with a digital solution, you can automate all your business operations from fleet dispatch to resource management, which, in turn, helps you to save time and cut short your overhead costs considerably.
Adhere to safety measures
When it comes to the new normal, following safety measures is not a choice but a necessity. Ensure such precautions are rightly followed by both your customers and drivers. Encourage them to wear face masks and use hand sanitizers to curb infections. Install partition screens in your vehicles to help the passengers and drivers to stay at a safe distance from each other.
You can also confirm strict adherence to safety measures using a digital solution. With a safety checklist integrated with the driver app, you can make sure your drivers are good to go every time they accept rides.
Ready to digitize your business with a customized taxi suite and gain more new prospects? Talk to our consultants at TaxiMobility.