Airbnb, Etsy, Uber: Growing from One Thousand to One Million Customers Case Reflection Paper

'Airbnb, Etsy, Uber: Growing from One Thousand to One Million Customers' Case Reflection Paper


In each case the strategies are different because of the company's situation at that time. Thanks to early adopters Airbnb, Etsy and Uber has started thinking abouy how to expand their customer base with better marketing methods. Digital marketing will help out, enabling different companies to get targeted customers through different search ads or social media at the affordable rate.

Airbnb

Airbnb was a two sided marketplace that sought to match people that owned real estate properties with people interested in renting short-term lodging. Airbnb was founded in August 2008 and based in San Francisco, California, the company was privately owned. By 2009, Airbnb had more than one thousand customers and by 2011 more than one million. One of the major advantage of Airbnb was that it tended to be substantially cheaper, generally 30% to 80% lower than hotels in the same location. In the summer of 2011 the company introduced Airbnb Social Connections, which leveraged users’ social graphs via Facebook Connect. Social Connections. It also allowed guests to search for hosts based on other characteristics, like school of graduation. In 2012 Airbnb received $112M in a Series B funding round from Andreessen Horowitz, Digital Sky Technologies, General Catalyst Partners, Jeff Bezos, Ashton Kutcher who also joined the company’s advisory board and CrunchFund. At  22th June, just three days after funding which valued Airbnb at over $1 billion. The another important point is that; on August 1st, Brian Chesky issued an unconditional apology via the company blog, announcing Airbnb’s updated guarantee to cover up to $50,000 in damages from vandalism or theft. Then in May of 2012, Airbnb partnered with Lloyds of London to expand their guarantee even further, covering every booking with their $1,000,000 Host Guarantee.  $1,000,000 Host Guarantee was an example of the company’s commitment to trust. By moving quickly to address these concerns, Airbnb was able to continue growing, despite these incidents, on an even sharper growth curve.

Etsy

Etsy was a two sided e-commerce platform specialized in handmade or vintage items and supplies including art, photography, clothing, jewelry, food, and toys. Etsy grew from one thousand to one million customers from approximately 2005 to late 2008. Since 2011, organic channels have represented 87% to 91% of Etsy’s traffic, while paid ads have been responsible for between just 2% to 7% of traffic. Etsy’s early support of artisans at craft fairs helped bring buyers and sellers to the fledgling marketplace. As the company grew, it continued to provide support for sellers, who marketed their wares and, in turn, marketed the Etsy platform to their own loyal customers. In 2013 CEO Chad Dickerson, who took over after founder Rob Kalin stepped down in 2011, attributed Etsy’s remarkable user growth, in part, to sellers promoting their own shops on social media. By late 2008, Etsy was growing faster than ever, racing past the one million customer mark.

Uber

Uber was an online two sided transportation platform based in San Francisco, California. Uber developed, marketed, and operated the Uber mobile app, which allowed consumers with smartphones to submit a trip request which was then routed to independent drivers who used their own cars. Uber grew from one thousand to one million users from approximately 2010 to 2012, using a very deliberate city by city approach. The reason Uber expanded so quickly was because they acknowledged that growth was not one size-fits-all. Because of local politics, regulations, and interests in each city, Uber needed to adapt their launch plans to suit the unique characteristics of each new market.  It was this ability to go into a market, understand who the suppliers were, who the special interests were, and account for those dynamics that made Uber successful immediately in new cities. Special events and holidays provided as an opportunity to showcase Uber’s model. These events created intense demand and pressure to get new users to take their first Uber ride, driving spikes in new riders and total rides.

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