Improving customer retention for Olacabs
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How to improve customer retention Strategy for Olacabs
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Improving customer retention for Olacabs
- 1. Case: Improve Customer Retention PREPARED BY: Gaurav Shrivastava Ex-MSIL | MBA SPJIMR |B.TECH. IIT KHARAGPUR
- 2. Headquartered in Bangalore, ANI Technologies Pvt. Ltd. is operating under the trade name Ola. 700,000 Vehicles building mobility for a billion Indians across the country. 800,000 Empowered driver-partners operating across 110 cities. Founded in 2010 by Bhavish Aggarwal & Ankit Bhati. Business Model: On demand Taxi Hailing Service using which people with smartphone can book car. Revenue Model: Customers Ola app Cab drivers Platform Economy leveraged on network effect. Ola incentivize drivers & customers so that they stay on the platform Growth opportunity: 30%-50% month-on-month for Cab aggregator. Rival: Uber Market share: Olacabs has around 46% market share & Uber around 50%. Value Creation by Olacabs: • Using smaller hatchback • Pay-with-cash model • Booking through call center where smartphone penetration is low. • Apps based on local language. Company & context Customer Journey Issue Tree Survey Root Cause Solution Implementation roadmap
- 3. Onboarding on App Select Pick Location Select Drop Location Selection from various categories Ride Timing (Now /Later) Confirm Booking TravelPayment Customer Feedback Company & context Customer Journey Issue Tree Survey Root Cause Solution Implementation roadmap
- 4. WhatsetofactivitiesOlacabsshoulddoto avoidmigrationofcustomerstoother platforms? Pricing Cash Back/ Discounts Competitive Pricing Switching cost Weekly/Monthly/Yearly Pass Discount to premium customers Offering cross services Product (App) Faster app Automation Proactive personalization Customer support Operations Accurate ETA (estimated time of arrival) Professional/Trained Drivers Good condition of cab Ensuring safety of passenger Company & context Customer Journey Issue Tree Survey Root Cause Solution Implementation roadmap
- 5. Respondent Size =54 NPS: How likely it is for you to recommend Olacabs to your family/friends? What Promoters believe about Olacabs: • Economical • Wide reach in India • Convenient: Many services offered for ex. Ola shuttle, Ola Share, Ola Outstation, Ola auto etc. What Passive believe about Olacabs: • Economical but availability is problem. • Professionalism of Driver’s can ne improved. • In late hours, car availability should be improved. • In peak hours, cabs are not available in Ola share. What Detractors believe about Olacabs: • Bad experience • Old cars and not properly maintained • Less reliable • Drivers cancel trip without informing. • Bad brand image • Difficulty in booking • Drivers are not professional. Company & context Customer Journey Issue Tree Survey Root Cause Solution Implementation roadmap
- 6. Please rank (1-13) the following in order of importance: (1- Highest importance, 13-Least importance) Most sought after features by customers: 1. Less ETA (estimated time of arrival) 2. Financial benefits (discounts/cashbacks etc.) 3. Ease of app onboarding. 4. Drivers professionalism 5. Driver’s driving style. Other Wishlist's of customer: 1. Availability 24X7 2. No surge Pricing 3. Reliability 4. Female drivers 5. Safety 6. Fast customer’s grievance redressal Company & context Customer Journey Issue Tree Survey Root Cause Solution Implementation roadmap
- 7. Company & context Customer Journey Issue Tree Survey Root Cause Solution Implementation roadmap Pricing • Surge pricing • Uncompetitive pricing Product (App) • Error in ETA • Slow app • Bad customer support • No link with paytm or other payment gateways Operations • Driver’s attitude • Unavailability of cars • Concern for safety of passenger • Condition of cars Reasons for migrating from Olacabs:
- 8. Company & context Customer Journey Issue Tree Survey Root Cause Solution Implementation roadmap PRIORITY: Operations ISSUE SOLUTION HIGH Driver’s attitude • Soft skills training of drivers • Blacklisting of bad drivers Unavailability of cars • Using analytics to identify high traffic areas and accordingly direct cabs to be there. Condition of cars • Creating standard for selection of cars • Partnership with service workshop for regular maintenance PRIORITY: Product (App) ISSUE SOLUTION HIGH Error in ETA • Tie up with google for accurate heat map or develop new accurate heat map for better traffic estimation Slow app • App redesign with increased responsiveness Bad customer support • Training of customer care executive with clear goals. No link with paytm or other payment gateways • Partnership with Paytm and other payment gateways.
- 9. Company & context Customer Journey Issue Tree Survey Root Cause Solution Implementation roadmap Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Tie up with google for accurate heat map or develop new accurate heat map for better traffic estimation App redesign with increased responsiveness Training of customer care executive with clear goals . Partnership with Paytm and other payment gateways Integration, testing & launch Soft skills training of drivers Blacklisting of bad drivers Using analytics to identify high traffic areas and accordingly direct cabs to be there. Creating standard for selection of cars Partnership with service workshop for regular maintenance. Resource distribution based on monthly data analytics and predicting pattern. Development, testing, integration & launch ImplementDefine standards Identification workshops and collaborating for cheaper & faster solution Six Month Roadmap for Implementation Development, testing, integration & launch Product Operations SOLUTIONS As and when case arises Once in a quarter Once in a quarter 5 cumplusory mandays training for each executive
- 10. THANK YOU