Overcoming the Impact of Record Low Gas Prices and Rising Unemployment on Ridesharing

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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

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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 …

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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