In the previous post, we outlined 5 tips for success in the on-demand economy. What each of these five tips comes down to is understanding what your users and service providers need, when they need it, and responding quickly and fluidly. In other words, anticipating what they want when they want it, and being there when they’re ready. This is how you build a community of enthusiastic, passionate users and service providers, eager to tell others about your brand.
How can you do all this? With the power of data.
We like to say that on-demand marketplaces are data-driven businesses. Every on-demand platform uses data in some way, and the successful companies are data-intensive operations.
But it’s not enough just to have the data about your customers and service providers. You need to derive useful insights from the data to provide immediate results and delight customers in real time. But with so much data coming in so quickly, our human brains can’t keep up. Artificial intelligence (AI) can.
Here are few ways successful on-demand service companies can use data and artificial intelligence to drive growth.
1. Personalized onboarding. In the delivery business, once users sign onto a platform, 80 percent never leave. Artificial intelligence can pour through your customer data to personalize the onboarding process, ensuring customers feel cared-for even before they use your service.
2. Personalized triggers and notifications. What users love about on-demand services is that they can find and track service providers effortlessly. AI platforms can automatically update customers and suppliers on delivery times, offer personalized choices based on where they are in their user journeys.
3.Repeat transactions. Users who use the service again and again are the holy grail for on-demand businesses. With artificial intelligence, you can automatically target upsell and cross-sell opportunities for both buyers and service providers based on data. You can also segment them based on who is likely to re-engage or likely to churn, so you can target them with a tailored strategy.
4. Curated content and offerings. Consumers demand relevant content, tailored to their interests and delivered to their device of choice. AI helps you personalize newsletters, web and in-app content, and recommendations based on user interests and affinities calculated from historic and up-to-the moment behavior
- Location-based personalization. As we said, most on-demand businesses start locally. With AI, you can segment your users based on where they are — but even more importantly, the context of why they’re there. You can provide location-specific offerings and recommendations across any channel, including the web, your mobile app, and SMS.
Explore How AI Can Transform Your On-Demand Service