The term “Uberization” is derived from the company Uber, which introduced this business model. Uber is a transport service you can use 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 and agree upon the services a supplier offers, customer requirements, and payment terms and conditions.
Technology has changed the labor world a lot. Now, you don’t need to go to the market for a service or a product. Many services and products are easily accessible on your laptops and mobile phones. While sitting cozy on your couch, you can hire a freelancer for your new project. A third of Americans provide freelance services; incidentally, there is a vast supply of freelancing services. The idea of Uber is favorable for both the client and workers. The small business economy can significantly drive 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.
- The quality of the product or service is assessed using a rating system.
eBay, TaskRabbit, Uber, and Airbnb are a few examples of growing uberizing.
Here are a few examples of how uberizing can benefit small businesses.
Targeting Potential Customers
Online navigation tracking determines if potential customers are 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. It’s availability, customer satisfaction, expected delivery date, and order tracking details. A survey shows that 50% of customers buy a different product during Christmas than they intended. It was because 50% of customers searched for that product online. Online retailers attracted and diverted those customers to buy their products by providing details within minutes.
The Customer Can Use the Best Choice
Buying a product online has several advantages. Customers have more choices and the freedom to compare various brands simultaneously, with no retailer’s pressure 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 available to customers. The ease of purchase and time saved are the critical benefits of uberization, driving small businesses toward growth.
Uberization is a growing business because it listens to the customer’s heart. The customer expects that all information regarding products or services should be available. All questions, such as the expected delivery time, location, and refunding charges, should be answered. 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.
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.
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 daily. Providing ways to purchase products on a smartphone is a significant step towards the rapid growth of businesses.
In the recent advancement of smartphone technology, uberizing a small business economy is the most–wanted step towards the rapid growth of all kinds of businesses.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.