Your On-demand Business: Rank Higher on the App Markets
The launch of Uber gave wheels to the highly enthusiastic entrepreneurs to transform their traditional business into the new age ride. However, the concept of Uber – that allowed users to book a ride whenever and wherever they want, has evolved and paved the path for innovation across different industries and business verticals.
The term ‘Uber for X’ was coined to connect the “sharing” concept and business model with a number of different businesses providing a wide range of services. Since then, it was no looking back. This gave birth to the on-demand economy where goods and services are provided to customers when and where they need. The on-demand economy disrupted many industries and business practices including food, transport, beauty, healthcare, courier and home repair. “As of now, there are 56 million on-demand app users and this number will increase and reach 93 Million by the time we hit 2022” – according to Rockbridge.
Good read: Leading Industries Being Reinvented By The On-Demand Business Models
Why the On-Demand Services Industry is observing a High Demand?
Innovations and the desire to penetrate untouched markets by the startups and existing businesses are the driving force behind the growth of the on-demand industry. “The on-demand apps economy revenue was $22 billion in 2015, and it will reach $57 billion by the end of this year” – as per a report by BIA/Kelsey. Other reasons behind this rise in demand include:
- Accessibility –When the services that are provided to customers are according to their convenience and preferences, the inclination towards on-demand services is obvious.
- Availability –When people search for anything, they prefer to go with that is available in their close proximity through an on-demand solution and get it delivered faster.
- Affordability – Traditional services were expensive as compared to the ones on-demand users are now getting through a number of available options.
- Payment Options –This is one factor that contributed the most in the success of the on-demand service industry with easy and quick payment options through digital wallets, cards, and net banking.
Apart from these, the major push given to the on-demand industry is the changed consumer behavior preferring ease and convenience over anything else. All these collective reasons have created an economy that is flourishing at an exponential pace and the industry is seeing no stoppage in terms of new on-demand business app venturing with every passing day.
If you are transitioning your business model to on-demand, and want to see your app on the top charts of the mobile app markets, select a tried & tested business model for having a better shot to success.
There is no magic wand that will put any kind of on-demand business to the list of favorites among the users. You will have to depend on mere observation and research to learn how to tap the target market and the audience. One thing that always helps in starting an on-demand business is to explore and identify processes that masses would do anyway for their needs and then think of an on-demand solution around it. There are specific needs and pain points of people that are difficult to address with the help of internet.
Breaking the Ice with an On-demand Business Idea
Idea: Seniors and grandparents generally spend most of their time at home sitting alone, without anyone to talk to or move around. People usually don’t trust those craigslist ads to take care of their senior loved ones. This brings a business opportunity. On-demand grandchildren for companionship. Seniors can look up to profiles of children living around in the app and raise a companion request for a few hours. All the nearby children would get a notification for it and the one who accepts will be going to the senior’s place. With the necessary guidelines and security terms, children from 10 to 15 years would be able to earn some money in their free time.
Once you have settled on an idea and identified the business potential, all you need to do is get the idea rolling. Spend time considering the pitfalls, look for mistakes of other similar businesses in the on-demand space and figure out a plan that would work best for your business idea.
On-Demand Business Models
Research and study various aspects of successful on-demand business models. It will help you in finalizing the operational process and come up with strategies that would impact your profit model and business growth.
Let us look at some of the most popular Uber for X business models in the market.
- Postmates Business Model
Postmates is an e-commerce business based on the on-demand business model to deliver goods in more than 100 metropolitan areas in the USA. It has enabled people to buy anything from local stores and get it delivered at their doorsteps for a minimal fee. The business model of Postmates is quite similar to that of Uber.
- Instacart Business Model
Instacart is an on-demand application to order groceries and other home essentials online. They provide facilities for doorstep delivery in major cities of the USA. The business is completely technology-driven, providing customers with their orders in less than one hour. Taking inspiration from Instacart business model, a number of businesses ventured into the on-demand economy with their products and services.
- Uber Business Model
Uber is considered as the mother of the on-demand economy. Uber’s business model was so efficient that it astonished the entrepreneurs and obliged them to venture in the on-demand startups. Uber is one of those few tech companies that have been valued over $72 Billion.
Well, it’s difficult to pinpoint one straight answer that would work for your on-demand business and take you to the top of the charts in the app markets. It would highly depend on the on-demand service you are planning to offer and how your innovation is going to help the people and community in solving their everyday problems or meeting up their demands. However, there’s always an on-demand app development and marketing agency behind the success of an idea and making it find a permanent place on millions of devices.
Not able to select the right business model or strategy to reach atop, we’re ready to help. Let’s meet and discuss. Book an appointment.
