RidesharePanel https://ridesharepanel.com The ultimate guide to Lyft and Uber driving tips, news and promotions Thu, 23 Feb 2017 20:10:30 +0000 en-US hourly 1 https://wordpress.org/?v=4.7.2 https://i1.wp.com/ridesharepanel.com/wp-content/uploads/2015/11/cropped-Screen-Shot-2015-11-01-at-4.19.41-PM.jpg?fit=32%2C32&ssl=1 RidesharePanel https://ridesharepanel.com 32 32 106113253 Juno Vs. Uber | How does Juno Compare to Uber in 2017? https://ridesharepanel.com/juno-vs-uber-juno-compare-uber-2017/ https://ridesharepanel.com/juno-vs-uber-juno-compare-uber-2017/#respond Mon, 20 Feb 2017 01:54:29 +0000 https://ridesharepanel.com/?p=1294   Juno is the youngest rideshare company, in an industry filled with heavy hitters. Juno hasn't been around more than a year or so, but they have plans to take on the big names in the industry. In order to

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juno vs uber

 

Juno is the youngest rideshare company, in an industry filled with heavy hitters. Juno hasn't been around more than a year or so, but they have plans to take on the big names in the industry.

In order to succeed in ridesharing, Juno will have to be competitive with Uber and Lyft.

Uber is by far the biggest player in the game. Let's take a look at how Juno stacks up with Uber in 2017. If at any point you decide to sign up to drive for Juno, feel free to use our Juno referral code.

Location of Juno vs Location of Uber

In real estate, people say that location is everything.

The same is true for the rideshare industry.

If you own a large share of the market in the highest density locations, you bring in the most revenue.

Uber currently operates in over 60 countries and close to 600 cities worldwide.

They have expanded the furthest out of any rideshare company.

Juno is still in beta testing mode.

They launched in New York City, and have yet to expand further.

Juno currently gives an estimated 20,000 rides daily in NYC. This compares to Uber's 200,000 daily rides in the same area.

This progress is impressive for Juno, but they still have a long ways to go.

Funding of Juno vs. Funding of Uber

Juno will need a lot of cash in order to scale and compete with Uber.

Their CEO is Talmon Marco. He previously founded and sold Viber, a messaging app that acquired over 750 million users.

This experience has enabled him access to funding early on. In a funding round during October of 2015, Juno aimed to raise $50 million from investors.

Uber has raised close to $12 billion in funding. They are valued at over $60 billion.

They clearly have the lead. They also have the ability to invest in new technology and heavily promote their platform with this capital.

Juno Drivers vs. Uber Drivers

Juno has made it clear that they only want the best drivers.

They recruit drivers with a 4.6 star rating or better with at least 100 rides.

In theory, they should have the best drivers.

They also treat their drivers better.

Drivers are guaranteed that only 10.5% commission is taken from their paychecks for the first two years.

They're also given equity in the company, 50% of shares are reserved for drivers.

Uber drivers are generally not happy with their platform. But they don't have a better option. Uber has also been open about their plan to implement self driving vehicles. This could put a portion of rideshare drivers out of business.

It looks like Juno may be able to provide a better alternative to Uber. If they can, drivers will transfer over to Juno with ease.

It will likely take a lot of cash for Juno to expand to new markets quickly. They may not have a hard time recruiting drivers, but recruiting passengers could be more of a challenge. Word of mouth will go a long ways. But Uber has the ability to cut rates and keep passengers on a platform that they already enjoy using. Juno will need to match or beat Uber's subsidies in order to compete.

 

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Juno Update | How Juno Competes With Uber and Lyft https://ridesharepanel.com/juno-update-juno-competes-uber-lyft/ https://ridesharepanel.com/juno-update-juno-competes-uber-lyft/#respond Wed, 08 Feb 2017 23:07:45 +0000 https://ridesharepanel.com/?p=1275   I've written a few posts related to Juno in the couple of months. Today I decided it needed to be more of a focus. In the rideshare industry, everyone is always looking for the next big thing. We're wondering,

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juno vs. uber

 

I've written a few posts related to Juno in the couple of months.

Today I decided it needed to be more of a focus.

In the rideshare industry, everyone is always looking for the next big thing.

We're wondering, how soon will we see self driving Ubers?

We hear that Uber just invested in an artificial intelligence company, and that peaks our interest.

 

There's a lot of buzz in this industry. We start to forget about the drivers behind the wheel.

 

That's where Juno comes in.

They want to shake up the industry by doing something really crazy. Putting drivers first.

For anyone that's driven for Uber (or even Lyft for that matter), the thought is novel.

It makes you wonder if that's really possible. Given that Juno is still in beta mode in NYC, we don't really know the answer.

So I thought I'd check in on Juno, see where they're at in the expansion process and reexamine their plans to compete with Uber and Lyft on a national level.

Juno Expansion | Where is Juno at in the Growth Process

Juno is currently still beta testing in NYC.

From all of the sources we've checked - that test has been going well.

At the moment, Juno is giving 20,000 rides a day in NYC. Not bad.

Uber, on the other hand, does about 200,000 rides.

By this comparison, Juno has made progress but still has room to grow.

It's unclear how soon Juno will expand outside of NYC, but they have a strategy that appears to be working at ground zero.

Let's take a look at how Juno stacks up against Uber:

Juno

  • In beta testing phase, currently operates in NYC
  • Gives 20,000 rides daily in NYC
  • Seeking $50 million in current round of funding
  • Takes a low 10.5% commission from drivers
  • Gives drivers equity in company (50% of shares reserved for drivers)

Uber

  • Operates in over 80 countries and close to 600 citites
  • Gives 200,000 rides daily in NYC
  • Valued at over $60 billion
  • Takes a 25% + commission from drivers
  • Passenger focused rideshare platform

How Will Juno Compete With Uber?

When you take a look at the Uber vs. Juno comparison it's clear that Juno has some work to do.

So will Juno be able to compete?

They've definitely nailed down their core issue (driver relations). And it looks like they have a solution.

The churn rate in the rideshare industry is close to 50%.

If you can find a way to attract the best drivers and retain them, you've got a more sustainable business model.

Juno has already set up the incentives to stick with them. They take a lower commission and give drivers equity in the company.

At this point, they've got to focus on attracting passengers.

It's really not that difficult, it just requires cash.

If Juno can offer promotions and aggressively market to passengers, they shouldn't have an issue expanding.

They plan on accepting only the best drivers (must have 100 rides at 4.7 star rating or better with Lyft/Uber).

In theory, this will equate to better service.

 

Does Juno Actually Have an Advantage Over Uber and Lyft?

With huge valuations and vast expansions under their belts, it appears Uber and Lyft have a huge advantage.

There is one big advantage of Juno that gets overlooked.

They're the newcomer.

Uber has gotten a ton of bad publicity in the past few years. Lyft doesn't have a perfect record either.

Drivers are generally in a position where they don't exactly like either company, but they have bills to pay.

The fact that Juno doesn't have any track record could really work in their favor.

Just recently, the #DeleteUber protest went viral.

 

 

It appears that Uber was able to deflate the movement. Travis Kalanick dropped out of his advisory role in the Trump campaign, which had sparked the protest in the first place.

Damage control appears to have worked, but protests like this are becoming more and more common.

It looks like the rideshare industry is asking for a new solution, and Juno might just have it.

What do you think? Leave a comment below.

Have you thought about driving for Juno? You can preregister now with my Juno invite code and lock in their low commission guarantees. They'll reach out to you as soon as they plan to expand to your city.

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Rate Updates for Uber and Lyft | 2017 https://ridesharepanel.com/rate-updates-uber-lyft-2017/ https://ridesharepanel.com/rate-updates-uber-lyft-2017/#respond Tue, 24 Jan 2017 07:05:03 +0000 https://ridesharepanel.com/?p=1248     Over the past couple years we've gotten used to rate cuts near the beginning of each year. It started with Uber, then Lyft followed suit to remain competitive. In a passenger oriented business, sometimes the driver gets forgotten.

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Over the past couple years we've gotten used to rate cuts near the beginning of each year. It started with Uber, then Lyft followed suit to remain competitive. In a passenger oriented business, sometimes the driver gets forgotten.

Rate adjustments have been a bit different in 2017, at least from what we've seen. Here's a look at the latest updates from Lyft and Uber:

Uber Wage Changes 2017

Lyft Rate Changes in 2017

Lyft cut rates across the board in 2016. It was a blow to drivers who had felt like Lyft was the driver friendly rideshare company. Lyft put out a statement along the lines of "Rate cuts benefit drivers because lower ride fees mean more rides, more rides = more money for drivers". The math didn't really add up. Rate cuts would have to spur a huge increase in demand in order to boost efficiency to the point where drivers could make more.

It was clear that Lyft didn't want to get priced out of the market. After all, ridesharing is a business. You have to stay competitive.

So what changes have been made to rates in 2017?

Lyft has adjusted rates across the board, but it hasn't been a clear shift in either direction.

I drive in Seattle, and I recently got an email notifying me that Lyft had boosted rates in Seattle. Here's a look at the new pricing table that takes effect January 23rd:

 

This was definitely a pleasant surprise. I was concerned that Lyft and Uber might have engaged in race to the bottom with regards to expenses, and as a driver I didn't expect to fare well.

It's possible that Lyft is trying to reduce their churn rate - in a recent SherpaShare survey about 65% of drivers had been driving for less than 6 months.

But it's more complex than that, because Lyft definitely cut rates in other cities.

According to a recent article by TheRideshareGuy, a number of cities have seen a rate cut.

In Orange County, the per mile rate was cut from $1.15 to $.90. That's a huge drop.

These cuts fluctuate from city to city. In total, Lyft actualy boosted rates in 36 cities and cut rates in 42 cities. When you take a step back and look at the total rate adjustments across the board, the rate boosts actually balanced out the rate cuts.

If you didn't receive an email from Lyft with an update of the rates in your city, you can check out a breakdown of the rates by city on the Lyft website.

The Rideshare Dashboard's recent post has a list of rate changes in every city, it helps break down the changes.

The variations in cuts across the board to tell us something about Lyft. These rate adjustments are tied to supply and demand, and they're likely determined by an algorithm. Just about everythingin the on demand industry is data driven, including our wages.

 

Uber Rate Changes in 2017

Uber has yet to announce any rate changes this year. Given that they were the first company to cut wages for rideshare drivers, this comes as a surprise.

The fact that it hasn't been announced according to the expected schedule doesn't really mean much. They could cut rates at any time.

If in fact they do keep wages steady, it's likely a response to the churn rate issues that they share with Lyft.

We'll keep this post updated with any future changes to Uber wages in 2017.

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Best Advice for Lyft and Uber Drivers https://ridesharepanel.com/best-advice-for-lyft-and-uber-drivers/ https://ridesharepanel.com/best-advice-for-lyft-and-uber-drivers/#comments Wed, 18 Jan 2017 06:58:11 +0000 https://ridesharepanel.com/?p=1219 Driving for a rideshare company like Lyft or Uber gives people a ton of freedom. You're an independent contractor, which allows you to make a lot of your own decisions. The freedom is great. It's the reason a lot of

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Driving for a rideshare company like Lyft or Uber gives people a ton of freedom. You're an independent contractor, which allows you to make a lot of your own decisions. The freedom is great. It's the reason a lot of us sign up to drive for Lyft/Uber.

The new level of freedom that comes with the job is something that previous job experiences don't always prepare us for. We get to make big decisions every day that determine the success, or lack thereof, of our business.

That leaves a lot of questions out there. After all, the rideshare industry is still relatively new. It's just not possible for companies like Lyft and Uber to train every single driver that they bring on board and simultaneously grow at such a fast rate.

So we've reached out to some experienced rideshare drivers with an entrepreneurial mind set. They've developed their own strategies and tactics to become more efficient, effective and profitable as rideshare drivers. Here's their expert advice in video format:

 

 

tips for new uber drivers

If you're new to Uber or Lyft, take a look at this video before you ever give a ride. The video, by The Rideshare Guy, is titled "My Number One Piece of Advice for New Uber Drivers" but it applies to Lyft drivers as well. Essentially, you want to take a ride as a passenger so that you understand the ride experience from their perspective. Here are a few takeaways:

  • Learn when passengers are notified of your arrival
  • Know that passengers are likely tracking your car's movement as soon as the ride is accepted
  • Let passengers get settled in your car before asking any questions, don't bombard them with questions

 

This video is brought to you by Harry Campbell, aka The Rideshare Guy. He's the OG of rideshare advice, his blog provides insightful tips for drivers and rideshare news. All rideshare drivers should follow Harry's blog and YouTube channel.

 

A common concern for new rideshare drivers is keeping their driver rating high. Whether you drive for Uber or Lyft, having a high rating is important for keeping your job and minimizing ride cancellations.

This video explains the number one tip for getting high ratings - being likeable. You can keep your car clean, drive solid routes, and offer bottled water. But if your passengers don't like you they won't give you a good rating. Here are a few tips for being likeable that are covered in the video.

  • Make eye contact and ask passengers how they're doing
  • Ask the passenger their preferred route
  • Match the passengers energy level
  • Start with an icebreaker - any more engagement depends on how responsive they are to the icebreaker

 

 

This video is by Cecily at Drive Girl Drive. She provides constant updates for Lyft, Uber, Postmates and Doordash. We recommend that rideshare drivers on all platforms follow her on her YouTube channel.

 

If you're new to Lyft or Uber, check out this video for a few basic tips that can make starting out as a rideshare driver much easier. Here are a few of the key tips:

  • Give your first few rides when it's not busy (passengers will be in a better mood)
  • Have a phone mount. This makes driving safer and using the apps easier.
  • Keep your car clean.
  • Ask you passengers for advice, see what they look for out of a ride.

 

This featured video comes from Kon at the Rideshare Tips YouTube channel. If you're a brand new Uber or Lyft driver, you should check out this video before you ever hit the road. The Rideshare Tips channel is up to date with a ton of information, we recommend that all rideshare drivers subscribe to it.

 

 

There are a few common mistakes that a lot of new Lyft and Uber drivers end up making. If you're a new rideshare driver, this video offers some great advice on what not to do. Here are a few things to avoid:

  • Starting the ride before the passenger gets in the car.
  • If the passenger takes more than 5 minutes to show up once you arrive, you can cancel and receive a cancellation fee.
  • If you cancel a ride, don't accept the same passenger you just cancelled on for the next ride. The passenger will likely be mad about the original cancellation and give you a poor rating (this happens often because ride requests are location based).

 

This featured video is brought to you by Terry from the Terry Tips YouTube channel. He offers a ton of advice on the channel, from cancelling rides to dealing with passengers. We recommend that all Lyft and Uber drivers subscribe to his channel.

 

 

Whether you're just starting out or you've given hundreds of rides, here's a video with a few more tips that can save you time and boost your rating as a Lyft/Uber driver.

  • Make a good first impression - be friendly and smile.
  • Pick your driving times well - between 6-10 am is usually prime time in busy cities.
  • Bring a book. If you drive during non busy hours, pick a spot to read at and let the rides come to you.
  • Accelerate and break slowly - passengers appreciate a smooth ride.
  • Play jazz music for your passengers (they react very well to this genre compared with others).

 

This featured video comes from Jeff at the Entrepreneur Finesse YouTube channel. As a Lyft driver, you're really an entrepreneur at heart. You'll find all sorts of tips and life hacks for entrepreneurs on his channel.

 

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Lyft Customer Service | How to Contact Support https://ridesharepanel.com/lyft-customer-service-contact-support/ https://ridesharepanel.com/lyft-customer-service-contact-support/#respond Sun, 08 Jan 2017 23:58:48 +0000 https://www.ridesharepanel.com/?p=1177 What to Expect From Lyft Customer Service   One of Lyft's biggest strengths is their customer service. This applies to the service dedicated to passengers and drivers alike.  Lyft employs a dedicated customer service team that works around the clock

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Lyft Customer Service vs Uber Customer Service

What to Expect From Lyft Customer Service

 

One of Lyft's biggest strengths is their customer service. This applies to the service dedicated to passengers and drivers alike. 

Lyft employs a dedicated customer service team that works around the clock to solve your problems.

 

Lyft Customer Service Response Time

 

In our experience, Lyft support generally responds between 1 to 2 days after the initial contact is made. This average response time is significantly faster than that of Uber.

Another important aspect of customer service is the quality of response. Lyft hires real employees to handle their customer service. This results in high quality responses that actually resolve the problem at hand.

Other rideshare services outsource their customer service to foreign countries. Their customer service department uses prompts to answer most questions. This can be very frustrating. It's incredibly refreshing to contact Lyft and have an employee think through your problem and find a real, helpful solution.

What are the Different Ways to Contact Lyft Support?

 

 

  • Send an email to support@lyft.com. This is probably the easiest way to contact Lyft. They're really good at replying to these emails. This form of contact will set you up for a 1-2 day response time.

 

  • Fill out a help form. This form will direct your question to the support. The layout is more structured than an email, making it easier for the support team to come up with a response. The form prompts you to look through some Lyft resources. Often times you can find an answer in their resources without needing to contact a member of the support team.

 

  • Contact Lyft by phone at 855-865-9553. This is Lyft's critical response line. It should be reserved for emergencies. It's also not a substitute for first response teams, in the case of an emergency contact 911 first.
If customer service is important to you, we recommend the Lyft platform. Lyft has shown an unparalleled dedication to this segment of their business. Their customer service outperforms all other ridesharing companies by leaps and bounds.

 

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Lyft vs. Uber | 2017 Comparison https://ridesharepanel.com/lyft-vs-uber-2017-comparison/ https://ridesharepanel.com/lyft-vs-uber-2017-comparison/#respond Sat, 31 Dec 2016 07:54:39 +0000 https://www.ridesharepanel.com/?p=1112 Uber Company Overview Uber was founded in 2009 as UberCab. The original founders were Garret Camp (StumbleUpon founder) and Travis Kalanick. The mobile app was initially launched in 2011 in San Francisco. Uber's original CEO was Ryan Graves, but he

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Uber vs Lyft

Uber Company Overview

Uber was founded in 2009 as UberCab. The original founders were Garret Camp (StumbleUpon founder) and Travis Kalanick. The mobile app was initially launched in 2011 in San Francisco. Uber's original CEO was Ryan Graves, but he was ultimately replaced by Kalanick.

2011 was the breakout year for Uber. By the end of the year they had raised a total of $44.5 million in funding and officially changed their name from UberCab to Uber.

Over the next few years Uber attracted big name investors such as Google Ventures and Baidu, raising their valuation to above $50 billion by the end of 2015. Uber quickly expanded it's driver and passenger base by using a number of referral incentives. They still use these incentives today.

Throughout their expansion, Uber has encountered various legal hurdles. The question of the legality of ridehsaring is still challenged to this day. Uber now operates in over 66 countries and 545 cities worldwide.

At the forefront of technology in the rideshare industry, Uber has expanded to multiple markets. They've invested in self driving technology, food delivery and artificial intelligence.

Lyft Company Overview

Lyft was founded in 2012 by John Zimmer and Logan Green. Originally, Lyft was launched as a service of Zimride (a rideshare company they had founded in 2007).

Zimride had focused on longer rides between cities. Lyft was created to connect passengers on shorter trips.

In 2013, Lyft completed a $60 million Series C round of funding. In the same year they sold the Zimride branch to Enterprise Holdings.

The expansion of Lyft has been fueled by venture funding, driver referral bonuses and passenger promotions. In 2014 Lyft completed a Series D financing round, raising $250 million. They raised another $1 billion in 2016, including a $500 million investment from partner General Motors.

Lyft has grown to operate in over 200 US cities, and has a total valuation of over $5.5 billion. They've encountered the same legal hurdles as Uber throughout this process.

Lyft has yet to expand outside of the United States, but has formed a strategic partnership with international player Didi Kuaidi. The partnership allows Lyft passengers to take rides in some overseas markets using the Lyft app to hail rides from Didi Kuaidi vehicles.

In comparison, Uber has the larger valuation (greater than $60 million) and currently operates in more locations (more than 66 countries and 545 cities worldwide).

 

Lyft app vs Uber app

Uber Technology and App

The tech side of Uber can be broken up into two parts, their general tech innovations and their app. As far as innovations go, Uber has really jumped into the lead. Uber has a ton of investor money to play with, and they're doing some really cool things with it. They've invested in:

  • Self driving cars (beta program is currently being tested in Pittsburgh. That's right, Uber already has self driving vehicles on the road.)
  • Artificial intelligence (Uber recently acquired Geometric Intelligence)

As far as their app is concerned, Uber has pulled top talent from Silicon Valley to spur innovations. They've added:

  • UberEats, a food delivery service
  • UberPool (a carpool service powered by an algorithm that connects passengers on similar routes)
  • Fare estimator (calculate in app before ride)
  • Insant pay
  • End destination (choose end point of final trip)
  • Varoius other features

Uber has stopped at nothing to become the most innovative rideshare company - and potentially the most innovative tech company. They've impressed us time and time again, and they'll likely continue to do so.

Lyft Technology and App

Lyft has done quite a bit to innovate over the past few years. When it comes to rideshare innovation, Lyft and Uber are in an arms race. While Uber has more assets at it's disposal, has also shown an incredible ability to develop new technologies.

When one rideshare giant innovates, the other is quick to rebuttal. Sometimes so quick that it's difficult to tell who came up with the new technology first, Lyft or Uber.

Lyft has shown a strong desire to compete in the autonomous vehicle market, partnering with GM to produce the vehicles. Founder John Zimmer recently laid out a five year plan to put fully functional self driving vehicles on the road.

As far as app developments, Lyft has an impressive list:

  • Lyft Line (carpooling service that saves passengers up to 60%)
  • Instant pay (allows same day pay outs once you've earned $50 or more)
  • End destination, lets drivers choose destination of final trip
  • Various other features

It's tough to say who's innovated more on the app features front, both companies have some really cool features. We're excited to see what new ways Lyft is able to innovate to streamline their app and make ridesharing more efficient.

Both Lyft and Uber have proven to be incredibly innovative. Uber has a larger bankroll that has allowed it to break into artificial intelligence and food delivery. These advances have given Uber the lead in innovation.

Driving for Uber

Driving for Uber is a lot like driving for a professional cab service. They brand themselves as the premium rideshare service, and expect drivers to fall in line. There are a few major notes to keep in mind when considering driving for Uber:

  • 25% commission taken out of driver wages (booking fees not included)
  • Professionalism expected
  • Higher demand for rides (Uber owns a larger market share in most markets)
  • UberPool forces drivers to pick up more passengers on same route
  • End destination feature (allows drivers to target destination of final ride)
  • Uber app does not allow tips (Uber claims they are already built in to ride fee)
  • Uber power driver bonus (tested in San Francisco - no word on national rollout)

Driving for Uber gives you access to the largest market of potential passengers. At the end of the day, that's all that really matters. A driver's bottom line is most affected by the number of rides that they give in any given hour, given that rates and commission percentages are roughly the same. Uber's apparent message to drivers is something like this, "Hey, we're the bigger, better company. You'll want to drive for us because we own a larger market share. There's no reason for us to pamper drivers, because we're the best option." That is not an official quote from Uber.

Driving for Lyft

Lyft has a reputation for being the driver friendly, encouraging and positive rideshare company. They offer a number of incentives to keep drivers happy, and have phenomenal support service. They do however make some exceptions, including rate cuts, in order to stay competitive with Uber. Here are a couple major points that effect Lyft drivers:

  • 20% commission from drivers that signed up before 2016, 25% commission from all new drivers since 2016
  • Friendly environment (generally more talkative passengers)
  • Solid demand for rides (although less that Uber in most markets)
  • LyftPool feature similar to UberPool (LyftPools tend to be less common)
  • End destination feature (allows Lyft drivers to set destination for final ride)
  • Lyft app allows for tips
  • Lyft power driver bonus allows drivers to take home more of their paycheck (nearly 100% if enough rides are given)

Overall, Lyft has a few features such as tips and the power driver bonus that make it really advantageous to drive for them. They create a very positive environment, from driver support to friendlier passengers. They have a smaller market share than Uber in most locations. A number of incentives still make driving for Lyft very appealing.

Uber is a more professional environment, with larger market share and higher demand. Lyft is a friendlier environment with tips and other incentives to encourage drivers.

Lyft Customer Service vs Uber Customer Service

Uber Customer Service

Uber customer service is available to passengers and drivers. That said, uber is definitely lacking in the customer service department.

In our experience, many of the responses received would lead us to believe that all customer service for Uber has been outsourced. This would fall in line with Uber's cost cutting tendencies.

Generally speaking, we've received responses in anywhere from 1 to 5 days after reaching out to Uber support.

Lyft Customer Service

Lyft is known for fantastic customer service and driver support. They have real people working around the clock to answer an questions. For drivers, this includes:

  • 24x7 emergency hotline available at 855-865-9553
  • A support email at support@lyft.com

Passengers can also use the support email to reach out with any questions. In our experience, response times vary between 1 and 2 days. Answers are generally very helpful and well thought out. Needless to say, we've been very impressed by the customer service.

Lyft is the clear winner here. They have real people working around the clock to reassure drivers and passengers in need. We've had a great experience with their support staff, many drivers we've reached out to agree.

Uber Promotions

Uber has a number of promotions to incentivize drivers and passengers to sign up. Initially, Uber was lighter on promotions than Lyft. Once this tactic became effective for Lyft, Uber raised their promotions in order to compete.

Uber has the bankroll to consistently offer higher promotions than Lyft. Their referral bonuses currently beat out Lyft, but this environment is constantly changing.

It is clear that Uber is using a lot of data to set promotional rates. They vary by city, and are non existent in some cities where demand is insufficient.

Uber has offered the following promotions:

  • Driver referrals - up to $1,000 to sign up
  • Passenger referrals - up to $20 off first ride

Lyft Promotions

Lyft has offered a number of promotions over the years to attract new drivers and passengers. They've experimented quite a bit with different variations. They've even had some bad PR in the past for questionable promotions.

Lyft was the first to offer a $1,000 sign up bonus for new drivers. They also didn't realize just how attractive the signing bonus would be. A huge influx of new drivers caused Lyft to hesitate on payouts. This didn't make drivers to happy, so Lyft ultimately made good on their word.

Since then Lyft has been very straightforward with signing bonuses. They've offered:

  • Up to $5,000 for new drivers (minimum rides for the $5,000 payout are generally very difficult to meet)
  • Up to $50 for new passengers
Both Lyft and Uber offer huge incentives for to attract new drivers and passengers. Lyft currently has the higher average bonus and has a higher ceiling on promotional bonus amounts.
There's a new competitor in the rideshare industry Juno. Currently they only operate in NYC, but they have plans to expand. They also have great incentives to bring on new drivers. Check out our latest update on Juno and use our Juno invite code to sign up.

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How to Use Rideshare Referral Bonuses to Pad Your Income https://ridesharepanel.com/use-rideshare-referral-bonuses-pad-income/ https://ridesharepanel.com/use-rideshare-referral-bonuses-pad-income/#respond Thu, 08 Dec 2016 07:31:36 +0000 https://www.ridesharepanel.com/?p=1053 The sign up bonus hustle. It's a familiar one two step for all of us rideshare drivers trying to make the most of our rideshare income. If you've driven for Uber/Lyft before or currently drive, you know how it works.

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The sign up bonus hustle. It's a familiar one two step for all of us rideshare drivers trying to make the most of our rideshare income.

If you've driven for Uber/Lyft before or currently drive, you know how it works. For those of you who aren't drivers, it works like this:

Uber and Lyft give you referral codes to incentivize you to on board new drivers and passengers. The incentive is huge, and it's double sided. The new driver gets a bonus after completing a minimum ride requirement (up to $1,000 - sometimes more) and the referring driver takes home around the same amount. It's the same setup for passengers, just smaller amounts (usually a free ride or two for the passenger and $10 to $20 for the referring driver).

It's how I monetize this website - check out our rideshare promotions page if you're curious. It can be really lucrative, I'll explain the why and the how behind it in this post.

Lyft Refferal Bonus Income

 

Why Sign Up Bonuses Exist in the First Place

You may be wondering why Lyft and Uber pay out so much money for driver referrals and how they are able to sustain this. The answer is simple:

  1. Why. The turnover rate among rideshare drivers is huge, close to 50% a year. In order to meet demand for rides Lyft and Uber must use huge incentives to attract new drivers. It started as a means for these companies to expand as young startups - but it looks more and more like a way of life in the rideshare industry.
  2. How. These are private companies. They aren't profitable, and they don't have to be to attract investor money. They exist in a space that has revolutionized transportation and tech. For that reason alone private investors have thrown down billions, hence the large payroll for new driver bonuses.

How long will it last? Who knows. The sign up bonus hustle is about taking advantage of the opportunity that's in front of us as long as it's here. Don't plan on footing the bill for your kids college tuition with referral bonuses. After all autonomous rideshare vehicles are already on the road, and Lyft plans on being fully autonomous by 2022.

Here's one thing I do know, Lyft and Uber don't take a commission out of referral bonuses. That's around a 20% boost right there. They also offer huge sign up bonuses, reaching as much as $1,000 per driver. If you can find a system that works for you, you can get your hands on some serious earnings.

Strategies for Making Money With Referral Codes

There are quite a few angles that you can take to boost your referral income from Uber and Lyft. I've used a lot of these methods, I'll start with the tactics that have been most profitable in my experience.

  • Build a website. Blog about something rideshare related, and provide useful information to rideshare drivers. Use that platform to convert potential drivers to new drivers with your referral code. If your website ends up ranking well in Google for the right keywords, this could be a home run. I listed this method first because the target market for referrals via search engines is huge.

 

Rideshare Referral bonus

 

  • Make instructional YouTube Videos. Once again, provide content that is useful to your viewers, then offer a promo code to prospective drivers. It won't be as effective as a website, because very few people search for referral codes on YouTube. That said, YouTube is the second largest search engine, so there's some room to run here.

Lyft New Driver Sign Up Hustle

  • Utilize social media. Referral codes are extremely easy to share online, you can even make a link in your driver dashboard with both Uber and Lyft. Facebook, Twitter and even Google Plus are all great places to reach a ton of friends and acquaintances at the touch of a button. Make sure you don't post your referral link on sharing websites that you don't own (aka Reddit, Stumbleupon, Digg, Craigslist). This type of activity can get you deactivated.

 

 

  • Word of mouth. Talk to people you know, print out business cards, treat every conversation as an opportunity to convert a referral. Request a Lyft ride, then ask the driver is they drive for Uber as well. If not, convince them to maximize their earnings by driving for both (it's a common strategy). Do the same when you take an Uber ride. Make sure that you don't push passenger promo codes for the competing rideshare services while you are driving. Not only is this annoying for passengers, it could get you deactivated.

 

Referral Code Business Cards

Regardless of which method you choose to promote referral codes/bonuses, at the end of the day it all comes down to your hustle. If you put in the time and effort you can definitely see a boost to your rideshare earnings, and it might just be more profitable than your time spent behind the wheel.

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Self Driving Rideshare Vehicles | How Soon Will We See Them? https://ridesharepanel.com/self-driving-rideshare-vehicles/ https://ridesharepanel.com/self-driving-rideshare-vehicles/#comments Fri, 02 Dec 2016 07:37:33 +0000 https://www.ridesharepanel.com/?p=922 Self driving cars have long been a thing of epic sci-fi movies. When you ask someone to describe what they see the future looking like in 20 years, odds are self driving cars come up in the conversation. We've romanticized

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Self driving cars have long been a thing of epic sci-fi movies. When you ask someone to describe what they see the future looking like in 20 years, odds are self driving cars come up in the conversation.

We've romanticized over the idea for years. Now all of a sudden this future is looking like it's a whole lot closer to becoming an immediate reality.

Google has been testing self driving cars on the road since May of 2o15, the unmanned vehicles have covered more than 2 million miles. It's no secret that the big players in the rideshare industry want a slice of the pie. Both Lyft and Uber have announced plans to incorporate self driving vehicles into their business plan. But just how far out is self driving rideshare?

 Self driving rideshare car

But Just How Far Out is Self Driving Rideshare?

It exists. Right now in Pittsburgh, self driving vehicles are giving Uber rides. The city is ground zero for a self driving test zone (Advanced Technologies Center) that was set up about a year and a half ago.

It's not actually a full fledged self driving vehicle city, yet. Right now only a small portion of Uber vehicles are self driving cars. The rest of the vehicles are Uber X's with drivers and all the normal boring stuff you would expect in an Uber ride. Oh yeah, and the self driving vehicles come with a safety driver.

So they're self driving, kind of. Uber hasn't actually unleashed the technology in its full self driving form just yet. Being that it's ground zero and this is all for testing, that's probably a good thing. One of the scenarios the self driving vehicles need a human override - bad weather. Apparently self driving vehicles handle weather problems as poorly as the rest of us.

Ultimately, it's a huge step forward for Uber. They appear to be ahead of the game in self driving vehicles for rideshare. And they have a noble cause to go along with the technology - reduce human error and make the roads safer for all of us.

Where is Lyft at in Self Driving Technology?

In January of 2016 GM invested $500 million in Lyft. The partnership is heavily focused on one thing, self driving cars. GM had long shown interest in self driving technology, and Lyft is the perfect vehicle for that vision.

It all sounds great, but Uber already has self driving cars giving Uber rides. So where is Lyft at?

Days after Uber announced their self driving tests in Pittsburgh, Lyft president John Zimmer chimed in on Lyft's game plan.According to Zimmer, Lyft has a three phase plan for introducing self driving vehicles:

  1. Autonomous vehicles that operate on a fixed route (sometime in 2017)
  2. Self driving cars with a max speed of 25mph (around 2019)
  3. Fully functional self driving vehicles (2021-2022)

Personally, I'm a big fan of the road map that Zimmer has laid out. It also makes a lot of sense. Early autonomous vehicle technology will very limited, fixed routes are the best way to minimize risk as the technology becomes more refined. With that said, Uber still has a leg up on Lyft being that they currently have autonomous vehicles on the road.

What Hurdles Are Left for Autonomous Rideshare?

The technology is awesome, I can't wait to hop in a self driving Lyft/Uber myself. But let's be realistic, there are still plenty of hurdles to come.

  1. Legislation: Since 2012, 17 states have brought up the autonomous vehicle debate. Only Florida, California, Nevada and Washington D.C. have put laws into place. There is a lot of lobbying ahead of Uber and Lyft, legislation may come with a hefty price tag.
  2. Lawsuits: It doesn't matter how much safer self driving vehicles are. The first autonomous vehicle caused accident will open the door for countless lawsuits. At this point, it's safe to say settlement funds have already been budgeted in for Uber and Lyft.
  3. Financing: Uber and Lyft are not capital intensive businesses, at least in theory. They provide an app and some insurance, then drivers bring their own vehicles and operate as independent contractors. It's a great business model. So how do self driving vehicles come into play? It's a huge capital investment with enormous maintenance expenses to follow. The cynical side of me wants to say it's all a ploy to increase their private valuation and bring in more investor money before an IPO - it all sounds kind of bubbly. But then again, that's why I'm here writing about it not out calling the shots.

We've seen rideshare companies overcome huge hurdles in the past four or five years. Rideshare wasn't legal in a lot of states and cities, but Uber and Lyft went there anyways. They've fought legislation and won. They've fought driver lawsuits and won. A lot of people didn't think they'd replace the taxi industry - and then they did.

If there's an express route to self driving vehicles, Uber and Lyft have the formula. It sounds like they're putting it into play a lot faster than we imagined.

 

 

Photo Credit: romanboed Flickr via Compfight cc

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Juno to Take on the Rideshare Giants https://ridesharepanel.com/juno-take-rideshare-giants/ https://ridesharepanel.com/juno-take-rideshare-giants/#respond Fri, 02 Dec 2016 06:15:42 +0000 https://www.ridesharepanel.com/?p=907 For those of you that haven't heard of Juno, they're the new rideshare company that plans to take on Uber and Lyft. They recently launched a beta program in New York City a few months ago, and they plan to

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For those of you that haven't heard of Juno, they're the new rideshare company that plans to take on Uber and Lyft. They recently launched a beta program in New York City a few months ago, and they plan to expand to more cities in the upcoming years.

The launch for Juno was very successful, especially considering they had very little publicity and grew the company namely by word of mouth. According to The Observer, the company service is "as much a social mission as a company".

Uber and Lyft have thoroughly established themselves in the rideshare market. The highly competitive industry put SideCar, one of the first rideshare companies, out of business. It won't be easy for Juno to get a foothold in this market, but they have an interesting strategy in place.

Juno takes on Lyft and Uber

Juno's Strategy for Competing in the Rideshare Business

The business model of Juno is interesting enough in and of itself, and definitely worth taking a look at. They offer their drivers equity in the company, 50% of their founding shares are reserved for drivers. Juno also advertises a guaranteed low commission rate of 10.5% during the first 24 months that they're in business.

These incentives are huge, they significantly out match those offered by Uber and Lyft. There are quite a few rideshare drivers out there that are fed up with fare cuts and high commissions. It's possible that a lot of drivers will give Juno a shot for those reasons alone.

The notion that Uber drivers are "partners" really just ends up pissing off a lot of drivers. They are not invested in the company, can be cut at a moments notice, and are forced to operate as independent contractors at their own expense.

Juno also has referral incentives for drivers. Unlike Lyft and Uber who pay out large sign on bonuses to drivers, Juno pays drivers a bonus of 0.5% of a new drivers wages over their initial 24 months. It's a unique offer, and appears to favor the referral of quality drivers that are committed long turn. Given the high turnover of drivers in the rideshare industry, this could be an effective way to keep drivers on the platform longer. It always seemed weird that Lyft and Uber payed out bonuses after only a month or two, we'll see whether or not there's any logic behind the short term referral payouts once it can be measured against Juno's strategy.

Juno has definitely identified a problem in the rideshare market and addressed it with an adequate solution. Whether or not they are able to execute on this strategy will likely determine their success.

Here are the recent updates in Juno's battle vs. Uber and Lyft.

Who are the People Behind Juno?

The CEO and Co-Founder of Juno is Talmon Marco. His was able to sell his previous business, Viber, for a small sum of $900 million. The fact that he's had prior success in the start up industry is important, it's not an easy environment to succeed in. Considering the companies that Juno is up against, they are going to need some impressive talent. According to Fortune, Juno is still in its infancy with under 100 people in the start up.

The process for hiring drivers appears to be much more personal than that of Lyft or Uber. Drivers meet up with in person over coffee to discuss the job before they start. Combined with the equity proposal, this will likely inspire drivers to take more pride and ownership in their job. Juno also claims that it will only accept Lyft and Uber drivers with a rating of 4.7 stars or higher. If Juno can bring in professional and qualified drivers through this process, it should have a positive impact on the company as a whole

In it's early days, Lyft drivers went through a mentor session that I thought was really cool. You had a chance to meet up with an experienced driver and learn from them before you got out on the road. I believe the process still exists in some cities, but because of Lyft's rapid expansion they aren't able to implement the mentor session everywhere. If Juno can maintain a more personal connection with their drivers through meet ups and customer service it will go a long ways to keep drivers happy.

What Else is Cool About Juno?

Juno is definitely trying to differentiate itself in the rideshare industry, and in order to succeed they will need to. There area couple other cool features of Juno that are worth noting:

  1. They won't have a carpool service (offered by Uber and Lyft)
  2. Tipping will be allowed
  3. Drivers will be given a phone and their data will be covered
  4. There will be no surge pricing or surge charges

The above feature address many of the pain points associated with Lyft and Uber. As a rideshare driver, I would definitely consider driving for Juno if they came to Seattle. The potential to get equity in a business is really an awesome idea, and I'm sure the word will spread quickly. If I had to pick a bone with the company it would be their homepage, which is shown in the screenshot below. It looks like it was created by a web designer in 2009 - but they are still in beta so I'll cut them a break there.

 

juno website

All in all, I'd have to say Juno is a very interesting concept, and I look forward to watching the company grow. If you're interested in registering early to drive, you need a referral code. Feel free to use mine.

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Rideshare Driving – What are the Basics? https://ridesharepanel.com/rideshare-driving-basics/ https://ridesharepanel.com/rideshare-driving-basics/#respond Fri, 02 Dec 2016 06:15:20 +0000 https://www.ridesharepanel.com/?p=598 The rideshare industry has been around for years now. Hundreds of thousands of drivers have taken to the roads with Lyft and Uber. It's likely that just about everyone reading this knows someone who's tried their hand as a rideshare

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The rideshare industry has been around for years now. Hundreds of thousands of drivers have taken to the roads with Lyft and Uber. It's likely that just about everyone reading this knows someone who's tried their hand as a rideshare driver. The industry has had a ton of buzz recently, so we thought we'd give you an overview of what it's like to drive for Lyft and Uber (from the perspective of real Lyft and Uber drivers).

Ridesharing 101

 

The infographic to the right covers some of the essentials of driving for Lyft and Uber. It's definitely not an exhaustive list, but it includes some of the mane benefits as well as draws of being a rideshare driver. We'll go into a little bit more depth with regards to the topics below, they include:

  • Flexiblity
  • Insurance
  • Tipping
  • Hourly Guarantees

 

There are a few subjects that aren't touched upon below, but they're still important. Those are surge pricing, Lyft Line/Uber Pool and wage cuts.

We'll start with surge pricing, because it's the most beneficial to drivers. During busy hours surge pricing matches the demand for rides with the supply of drivers on the road. If you are driving in an area with surge pricing you get to add a multiplier to the rate you're currently earning.

Lyft Line and Uber pool are relatively new features. They're a product of algorithms used to fill empty seats in your car. The jury is still out as to whether or not this is actually beneficial for drivers. We know that it makes rides cheaper for passengers and puts more money in the pockets of Uber and Lyft, but it doesn't appear to have in impact on the bottom line for drivers. 

Wage cuts are kind of a sore subject. They've managed to piss off a ton of rideshare drivers. But they tend to be just a big enough deduction from drivers' earnings to really piss them off but not push them to quit (at least not any more than the 50% turnover rate already accounts for)

Rideshare infographic
Flexibility

One of the major draws to the rideshare industry is flexibility. Most people don't intend to be career drivers with Lyft and Uber. As a matter of fact, over half of all drivers will quit within their first year. Add to that the fact that about 70% of drivers only do it part time, and you start to see the bigger picture. Lyft and Uber provide a unique opportunity for people to leverage an asset (their car) in order to make quick and easy cash on their own schedule.

Insurance

Insurance coverage is a highly publicized issue for both Lyft and Uber. Essentially, Lyft and Uber have great insurance coverage. They just don't provide that coverage for the full time that you are driving. You won't be covered by Lyft or Uber's insurance during what is known as period 1. This is the period when you don't have a passenger in the car. If you think about it, it's also a potentially hazardous time to drive. Most drivers are aware of the risk presented by this gap in the insurance coverage and they choose to drive anyways.

Tipping

Tipping is a big plus for drivers. Until recently, Uber openly discouraged passengers from tipping. They recently opened up their policy to allow for tips, but there is no tip function built into the app. On the other hand, Lyft makes it very simple for passengers to tip their drivers. It's a big incentive to choose Lyft over Uber. Drivers can also take advantage of a Power Driver Bonus. They can do so by driving more hours each week, and the reward is a larger slice of their paycheck goes into their pocket.

Bonuses

A big draw for new rideshare drivers are the hourly guarantees and huge sign up bonuses. If you drive during set busy hours and give a certain number of rides in that time you are guaranteed an certain hourly wage. A lot of times this amount is more than drivers might earn otherwise. Furthermore, if you sign up with a referral code you get a lump sum of cash after completing a certain amount of rides.

At the end of the day, drivers have a lot of flexibility in the way that they earn their paychecks with Lyft and Uber. This flexibility is what continues to bring in new drivers. There's a lot of buzz about low earnings and insurance risk in the industry, but as long as Lyft and Uber continue to present drivers with an opportunity to make money within a system that suits their lifestyle there will continue to be a steady supply of willing drivers.

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