Global Leader of Marketing, Sales & Pricing Practice | Managing Director & Senior Partner at Boston Consulting Group
Will Lyft’s Price Lock feature be enough to sway and satisfy commuters during peak times? Lyft's new Price Lock feature is like a form of insurance designed to provide commuters with predictable fares by mitigating surge pricing. #Lyft #Rideshare #Pricing #SurgePricing #pricingstrategy
Lyft can’t control the traffic or the weather. But we can make sure that every ride and every minute a driver spends on the road feels worth it. Today, we are announcing new earnings features that make it more rewarding than ever to get behind the wheel. We want drivers to love our platform, but they get frustrated when the effort to complete a ride doesn’t match their earnings. So starting today, they’ll see increased earnings for unexpected delays or out-of-the-way drop offs. And they’ll also see more transparent earnings estimates to make it easier for them to decide which rides are worthwhile. We’re also adding new tools to help them maximize their time, and benefits to enable them to succeed —?on and off the road. Our top priority is ensuring that drivers have a great experience every time they drive with Lyft. These new improvements will help give them more confidence that each ride is worth their effort. https://lnkd.in/eNpXFwku
?? The ride-hailing industry is booming, but drivers are facing increasing challenges. - ?? Declining earnings: Drivers are struggling with lower pay and reduced fare shares, often earning less than they did in previous years. - ?? Safety concerns: Many drivers are worried about their safety due to incidents like carjackings and assaults. - ?? Unfair deactivations: Drivers report being wrongfully deactivated with little support or clear communication from the platforms. #RideHailing #GigEconomy #DriverSafety - ?? Earnings have decreased with fewer promotions and bonuses, and some drivers are receiving offers as low as $3 per ride. - ?? Safety features are in place, but incidents of violence and threats against drivers remain a significant concern. - ?? Drivers often struggle to get support or reverse wrongful deactivations, even when the accusations are false or unclear. https://lnkd.in/giNbWxbq
I cultivate financial literacy in business owners so that they can make better financial decisions.
In a detailed comparison of income potential, Lyft drivers often experience variability reliant on location, peak hours, and demand fluctuations. In contrast, mobile notaries typically have more predictable earnings based on service fees for each notarization. The average earnings for Lyft drivers can sometimes reach decent levels, but they also encounter expenses such as fuel and vehicle maintenance, impacting their net income. Those considering these roles should weigh the pros and cons by examining comprehensive analyses available online. For in-depth exploration, visit:
Everything you see I owe to donuts ?? + chicken nuggets. Writer + strategist + ballsy storyteller. I pen brand copy, finance stories, SEO content, and other freaky good things.
$2.1M penalty for luring Lyft drivers with false earning claims. #Lyft and #FTC reach a settlement for misleading claims about driver earnings in 2021 and 2022, notably advertising wages of up to $43/hour in #LosAngeles and up to $34/hour in #NewJersey. Also drivers were promised guaranteed earnings (i.e. $XXX bonus for XX rides) without clear disclosure that only the DIFFERENCE between actual earnings and bonus/guarantee would get paid. This comes on the heels of disregarding an earlier 2021 FTC warning to cease deceptive practices. Lyft must now exclude #tips from hourly estimates and use clearer language for all promotions going forward. Curious how this impacts #affiliates (#advertisingpartners) like #PennyHoarder #RideshareGuy Swagbucks now in the language they use to tout driving for Lyft. "Drive for Lyft and earn $8/hour pre-tip" just doesn't sound that compelling. Or having to make the fine print a bit larger for new driver bonuses. On a separate note, #rideshare prices for Lyft and #Uber have become a lot more comparable to taxi rates lately. Rideshare is not always meaningfully cheaper than taking a cab. A few weeks ago, I went to Phoenix and the rate to get from the airport to the resort was only $0.88 more than for a taxi. And the cabbie had a booster seat and car seat (had on hand just in case) for my kids. Post 75 out of of 100. 25 days to go! #LinkedIn100days #100daystreak #gigeconomy #lyftsettlement #affiliates #advertising
Why I stopped using Bolt cabs https://lnkd.in/d4Hd-Dct .
As a Rider, the trip you take around the corner for couple of miles in an Uber or Lyft will cost you about $7-8. What will your Drivers make out of that fare? How about sub $3 in 2024, less than 2016? All employees of the gig companies including the CEOs should do some of these sub $3 trips and try to pay their bills for a month, not drive for photo ops. It's 2024 people, are Rideshare drivers immune to inflation? I'm sure the TNC PR machines will parade with drivers making $30 per hour nationwide. I call that fuzzy math, it's on Active Time, with a Rider in the back seat. What about 50% Utilization Rates due to oversaturation? That $30 is cut in half before expenses! Many thanks to Noah Sheidlower and Jacob Zinkula of Business Insider for this well researched article and for extensively quoting me! The TNCs have powerful PR machines, but I have the Driver community behind me The Rideshare Guy, our voices will be heard! #gigeconomy #rideshare #uber #lyft https://lnkd.in/gFZKCDzN
Uber Hit With ￡250 Million Suit From London’s Black Cab Drivers Uber Technologies Inc. was sued by thousands of London’s black cab drivers in a suit seeking hundreds of million pounds accusing it of unlawfully operating in the capital city. The claim alleges Uber improperly obtained a license to operate in the city and made unlawful gains for at least six years from... Read more! #CableCares #cableinsurancecompany #WorkersCompSpecialists #SedanServices #ProfessionalTransportation #limoInsurance #taxiinsurance #shuttlebusinsurance #Sedanservices #Corporatefleets #transportation?#limo #NEMT #fleet #automobileparts #taxibusinessowner #nemtbusiness #Nemtowner
Are driver bonuses Uber’s secret weapon for handling peak demand? It seems so. ?? As the holiday rush approaches, Uber’s targeted bonus strategy is in the spotlight for helping manage demand spikes while keeping drivers engaged. Why this matters: bonuses let Uber attract drivers precisely when they’re needed most, ensuring supply meets customer demand without a steep hike in base pay. Why it works: Bonuses give Uber flexibility to scale driver availability exactly when demand peaks – think post-Thanksgiving, New Year’s Eve, or other seasonal surges. By offering extra incentives during high-demand times, Uber encourages more drivers to log on, preventing long wait times and limiting the impact of surge pricing on riders. Bonus pay gives Uber a demand-responsive approach that boosts both rider experience and driver satisfaction. It’s a balancing act that could support profitability by managing costs while offering drivers attractive earning opportunities during the busiest times of year. Interested in our full report on Uber’s Q4 strategy? Leave a comment and I’ll send it over.
Driver #satisfaction is key to a successful taxi business, especially against tech-savvy competitors like Uber and Lyft. Outdated dispatch systems lead to delays and inefficiencies, but advanced #software can transform your operations. Explore our latest blog to see how cutting-edge dispatch technology can enhance driver efficiency and job satisfaction. https://lnkd.in/d87Gmjb6 #dispatchsoftware #taxidriver #driverjob #taxiservices #taxidrivers #driverefficiency #taxidispatch #taxibooking #taxiapp
