overcoming the impact of record low gas prices and rising unemployment on ridesharing
DESCRIPTION
This presentation was giving by NuRide CEO Rick Steele at the Association for Commuter Transportation conference in Washington DC on September 1, 2009.TRANSCRIPT
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Overcoming the Impact of Record Low Gas Prices
and Rising Unemployment on Ridesharing
Rick Steele, CEO, NuRide, Inc.
ACT International Conference
Washington, DC
Sep 1, 2009
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NuRide overview
The problem
What we did
How it worked
4
NuRide rewards you for taking “green” trips
carpooling and vanpooling
taking public transportation
walking, biking and telecommuting
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Here’s how it works
Sign up for free at nuride.com
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Here’s how it works
Record your green trips
carpooled today
took transit yesterday
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Here’s how it works
Track savings & earn points
saved $887
earned 70,200 pts
prevented 3 tons
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Here’s how it works
Redeem points for rewards
restaurant coupons
tickets
retailer discounts
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Record work and personal trips
bus to work
bike to friend’s
Earn points for all green trips
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Find NuRide members going your way
Share just one ride or set up a regular carpool.
Houston, TX
San Antonio, TX
Richmond, VA
New York + Connecticut
Washington DC Metro
Hampton Roads, VA
6 markets 43,000 members 2.8 million trips
216 sponsors $1.7 million rewards 6,000 companies
Accomplished with fantastic partners
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NuRide overview – rewards for “green” trips
The problem
What we did
How it worked
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Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 $1.00
$2.00
$3.00
$4.00
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
While gas prices were decreasing …
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Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 $1.00
$2.00
$3.00
$4.00
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Unemployment has risen to 25-year highs
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NuRide overview – rewards for “green” trips
The problem – cheap gas, fewer commuters
What we did
How it worked
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It is 10 times cheaper to keep a customer than get a new one
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“Do what you do so
well that they will
want to see it again
and bring their
friends.”
- WALT DISNEY
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Enhanced communications
Established sustainable rewards & events
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NuRide overview – rewards for “green” trips
The problem – cheap gas, fewer commuters
What we did – sustainable rewards and events
How it worked
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Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 $1.00
$2.00
$3.00
$4.00
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
While gas prices were decreasing …
31
Jul-08 Oct-08 Jan-09 Apr-09 Jul-090
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
NuRide trips increased 59% and visits increased 14%
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Visits to leading sites decreased in the same period
nuride.com
erideshare.com
rideproweb.com
rideshareonline.com
+ 14%
- 41%
- 42%
- 56%
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10,513 new members – 38% coming from referrals
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NuRide overview – rewards for “green” trips
The problem – cheap gas, fewer commuters
What we did – sustainable rewards and events
How it worked – pretty well (phew!)
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SUSTAINABLE
• Provided by sponsors
• Large/unlimited inventory
• Ongoing not one-time
Practical
Sel
f-co
nta
ined
#1 Lesson Learned: rewards must be sustainable
10% off vacation
Free baseball tickets
$5 off groceries
$50 gas cardUNSUSTAINABLE
• Must be purchased
• Limited quantities
• Unrealistic
expectations