The term “uberization” is derived from the company Uber, the rideshare company which introduced this business model. Uber is a transport service that you avail by booking a ride from your smartphone whenever and wherever you need it. Uberization is a business model where suppliers and customers communicate directly via mobile technology, website, or software. These parties then agree upon the services offered by a supplier, customer requirements, and payment terms and conditions.
Technology has changed the labor world, and you no longer need to go to a storefront or market in search of a service or a product. Services and products are now accessible on your laptops and mobile phones. This idea means that the small business economy can drive significant growth by uberizing.
Uberization is based on the following characteristics:
- Use of digital platforms for peer-to-peer transactions
- Decrease the distance between the customer and the service provider
- Assessment of the quality of the product or service by using a rating system
Examples
eBay, TaskRabbit, Uber, and Airbnb are a few examples of growing uberizing.
Here are a few examples of how “Uberizing” can be beneficial for small businesses.
Targeting Potential Customers
Online navigation tracking is utilized to find out potential customers searching for a specific product. Online retailers monitor these customers and provide them with complementary products or services along with cost comparisons. The websites have a detailed description of the product, its availability, customer satisfaction, expected delivery date, and tracking details of the order. A survey shows that during Christmas, 50% of the customers buy a different product than the one they intended to purchase. The reason behind this was online searching for that product by 50% of customers. Online retailers attracted and diverted those customers to buy their products by providing them with details within minutes.
The Customer can Use the Best Choice
Buying a product online has a number of advantages. Customers have more choices and the freedom to compare various brands at a time, with no pressure from a retailer to buy their product. Customers compare products and hold off on ordering until satisfied. Online purchasing or uberization is now one of the preferred services availed by customers. The ease of purchase and time saved are the critical benefits of uberization, which are driving small businesses toward growth.
Flexible, Fast, and Smooth Service
Uberization is a growing business because it listens to the heart of the customer. The customer expects that all information regarding products or services should be available. All questions should be answered, such as the expected delivery time, location, and refunding charges. Satisfied reviews are the most forceful attention-driving services provided to customers.
Control of Purchases
Customers can control the time, date, and location that the product is to be delivered, so they find it more convenient to utilize online services.
Saves Time
For small business growth, uberization is time-saving. Building a concrete office, hiring a workforce, and marketing the product is quite a long process. If you develop a virtual online store or service room, all three are done in one go. Time is also saved, and ultimate growth is ensured.
Growing Technologies
With time, technology has replaced many things in our daily routines. PC desktops, watches, cameras, calculators, and stopwatches are all things of the past. Due to the evolution of technology during the last few years, all of this information is available on your smartphone. Excessive use of smartphones has forced small business owners to uberize their products and services. According to a survey, an individual checks their smartphone forty-six times a day. Providing ways to purchase products on a smartphone is a significant step towards the rapid growth of businesses.
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