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How Innovation Will Revolutionize Your Ridesharing Business

carsNot too long ago, if you lacked a personal means of transportation, it took several hours and a stout pair of boots to get from one place to another. These days, anyone can arrange prompt and relatively private passage to any regional destination without worrying about owning a car, and it is all thanks to ridesharing.

Ridesharing is the fastest and biggest change to the transportation industry since commercial flight. For the past three years in a row, ridesharing goliaths Uber and Lyft have received valuations in the billions of dollars, and their increasing $100 million profits are starting to prove investors right. It follows that many entrepreneurs are already looking to grab their share of the outstandingly profitable ridesharing pie. Fortunately, recent losses in reputation as well as a seeming reluctance to change with the times have created opportunities for newer, more agile ridesharing businesses to grow.

Still, the emerging plethora of ridesharing options makes distinctiveness and innovation absolutely necessary. To that end, here are a few ridesharing innovations to consider adding to your ridesharing business.

Automation

In cities around the world, driverless cars have long been enjoying test drives. Autonomous vehicles are nearly here; industry experts predict that most driverless options will be on the consumer market in 2020 ― in some cities, like Singapore, as early as next year.

It should be no surprise that automation will transform ridesharing if not the transportation industry at large. The lack of obligation to pay and organize drivers as well as the enhanced efficiency of robot cars both promise outstanding profits. It only makes sense to build your ridesharing company with autonomous vehicles in mind since they will have a significant impact on the industry relatively soon.

Platform Software

Because ridesharing is becoming a public need akin to municipal transit systems, ridesharing entrepreneurs must act fast to answer their audience’s demand. Fortunately, you can start attracting drivers and customers inordinately quickly by building your business on an existing ridesharing platform, like RideCell.

This service provides the app and software infrastructure you need to coordinate cars and hails, adjust prices, process payments, and more. Instead of wasting time, money, and energy building your system from the ground up, you can take advantage of innovative rideshare business solutions.

Environmentalism

More than half of Americans have resolved to live greener lives, and more than three-quarters of millennials are willing to pay extra for environmentally friendly products and services. For ridesharing, this means fleets based on eco-technologies, like hybrids, biodiesels, and electrics, might be able to attract unique attention and turn higher profits.

Though Uber and Lyft claim to have a positive environmental impact, definitive research has yet to support their claims; if you can make a ridesharing business with a proven neutral or negative carbon footprint, you could be a transportation hero.

Biometrics

Though it still feels futuristic for most folks to unlock their smartphones with their fingerprints, experts believe that vehicles are soon to follow the biometric trend. Soon enough, cars could be unlocked and turned on using a quick scan of a palm or eyeball.

You might consider adding biometrics to your ridesharing business as a safety precaution to help drivers and passengers authenticate their identities; alternatively, you might integrate a carsharing aspect that verifies rentals through biometrics.

Entertainment

Every ridesharing experience is unique, and generally the more entertaining a ride, the more positive the experience. Thankfully, automotive giants are increasing the entertainment power of their cars, integrating features like head-up displays (HUDs), which project images onto windshields and windows. At the very least, requiring your drivers to boast advanced infotainment systems, like Toyota’s Entune, might up the entertainment value of your rideshare fleet.

Marketing

Marketers want to access audiences everywhere they look, from TVs to billboards. It isn’t uncommon to see advertising materials on public transit, so some marketers are wondering whether it is possible to deliver messages during private transportation. Because cars are increasingly smart, connecting to the internet and collecting all sorts of personal data, some experts expect personalized in-car marketing to appear in the coming years.

Perhaps you can connect to this opportunity by offering targeted messages to rideshare passengers on car displays or selling static advertising space to interested businesses. You might even engage your customers more if the messages are appropriate or interesting.

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