Uber has unveiled his ambition to offer his customers hyper-galaized offers, but to do this it needs more of them to use more of his apps.
CEO Dara Khosrowshahi discussed the plan prepared comments [PDF] Delivered prior to the Q2 results of the company, in which he revealed that customers who use both Uber’s Rideshare and Delivery Services “use Uber more often and have retention rights of more than 35 percent higher than consumers with one business. As a result, consumers generate more than 3x the gross bookings and profit generate more than their Single-Business.”
Promotions may seem anti-consumers to a certain extent
Nowadays less than one in five Uber customers use both services. The company wants to improve that and then use AI to sell them more things.
“Larger and more advanced AI models also improve our ability to encourage platform-independent activities for the right consumers at the right time-for example, grab coffee on their way to the office, or have your groceries delivered well when you arrive at your holiday rental,” wrote Khosrowshahi.
The CEO offered a different version of the coffee scenario with the Uber profit call.
“We can choose a kind of the right time to send a promotion to you,” he said. “So on the way to work, maybe you pick up a Starbucks coffee with a promotion on it.
“This is an important focus area that is still in the early innings, and you will continue to innovate in both the Uber and Uber EATS apps to fill in platform activities.”
“What we try to have is the best of both worlds, a highly coordinated mobility app, a highly coordinated delivery app, both of which talk to each other and take targeted moments to promote each other in contrast to a sort of broad promotion that can seem … Anti-consumers to a certain extent,” the CEO added.
Uber hardly started to let this happen. “This is a long journey. I think we are in the second inning,” said Khosrowshahi. “With our product teams and our technical teams, I concentrated on it … I think the trip to the fourth, fifth innings will be easier than the first two innings.”
With the Uber profit call, Khosrowshahi discussed the approval of autonomous vehicles and said that the company is still “very, very early” in its exploration of Robo-Cabs.
“I think the commercialization will take time,” he said, adding that the autonomous cabin experiments of the company in Austin and Atlanta “go really well in terms of use.”
In both cities “the average waymo is busier than 99% of our drivers in terms of completed journeys per day,” he said.
That is not necessarily bad news for people, because Khosrowshahi said that Uber pays some of his drivers to perform tasks such as Databen Label, translation, card labeling and coordination algorithms, to help develop AI.
“It uses the Core Uber possibilities, which sends tasks to earners around the world, you just see a different kind of earner who is going to work for the really exciting AI developments that you see all over the world,” he said.
Robo-Cabs, however, boosts Uber’s general company.
“What we also see is that having waymos as part of our product is – it seems that it has a positive halo effect on the general system in terms of people who are enthusiastic to use an AV [autonomous vehicle]. “
“The focus is now how we market this product as quickly as possible, because it looks from a consumer position and from a security position, it is a real hit.”
However, it is not profitable.
CFO Prashanth Mahendra-Rajah admitted so much, but said that introducing loss-making services “has been a fairly consistent investment approach for Uber while we go to markets and go to products.”
“We build scale, we build our experience. And after a while we know exactly the levers needed to make that to get that in profitability.”
Uber could use more profit, because for the quarter ending on June 30 it yielded $ 1.35 billion net income on a turnover of $ 12.65 billion. These figures represent an improvement of 33 percent and 18 percent respectively, but the margins of the company are far below the typical measures for technology companies.
That is probably the reason why it wants to find a way to advertise cheap coffee. ®
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