Generating Customers by Creating Society Value

Image: Lyft

​Corporate Challenge: Manifesting new customers from outside the market space.

Ironbound Strategy: If you never stop creating value for customers, employees, and society, new customers will overwhelmingly flock to your brand.

Ironbound Action:  California based Lyft now provides rides to people who don’t have the Lyft app, including those who don’t even have cell phones.  Lyft has partnered with rural communities such as Vernon County (210 miles west of Milwaukee) that don’t have taxi services to provide safe rides for bar patrons late at night.  Bartenders are able to call Lyft’s for their patrons using a unique dedicated service that allows upfront payment by the bar, foregoing the need for the passenger to have a Lyft account.  When brands search for new ways of creating value for society, their efforts always increase their customer base.

* The NTSB's most recent report (2016) reported that around 30 people die every day from drunk driving in the US (almost every 48 minutes) with 10,500 deaths and 290,000 DUI injuries annually.  These statistics are expected to decline with Lyft’s influence.

​** Lyft launched in 2012.  It has reported over 1 billion rides, by 30 million riders, in 2 million vehicles.  Lyft’s expected FY19 revenues is $3.5B.