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As Lyft evolves to take a bigger slice of the corporate travel market, company officials decided the time was right to launch a loyalty program for business customers.
Lyft’s new loyalty program launched Feb. 27 for its business riders that offers up to 10 percent back on their trips. To participate, passengers need to create a business account, and they also need to be invited to participate.
According to the program, a business customer that takes five rides under his or her business profile will earn $5 in Lyft credit that is deposited back into their respective personal accounts. To qualify, each ride must cost at least $10.
Amit Patel, Director of Business Development for Lyft Business, told Loyalty360 that there were several factors that led to the launch of the program.
“We’ve seen impressive growth with Lyft’s corporate travel option,” Patel explained. “Certify’s 2017 annual report shows that Lyft grew in the number of transactions by 386 percent last year. And since 2015, Lyft has jumped from 3.87 percent to 18.2 percent of corporate traveler market share. So it’s clear that Lyft is growing as a preferred choice for business travelers. With the momentum we’ve gained in this space, we decided to test out a loyalty program for business travelers and gauge the interest from passengers, and to reward people who rely on Lyft to get them places. So far, the early results have been positive!”
Patel said company officials want to reward loyal business travelers who choose Lyft for corporate travel.
“We’re constantly looking for new and innovative ways to engage our riders,” Patel noted. “We frequently work with our customers and their employees to develop new programs, and with so many reward opportunities from the corporate travel segment, we were excited to launch our own pilot.”
Patel called the program a “first-of-its-kind” for the space.
“Providing passengers with personal reward opportunities for all the business trips they take with Lyft is unique for the ridesharing industry and we are excited to roll it out!” he said.
Patel believes that emotional loyalty plays a role in Lyft’s allure to consumers.
“So many people are choosing Lyft as their go-to transit solution for their business trips, often without even thinking twice about it,” he explained. “By providing this simple reward incentive, we’re essentially building ongoing opportunities to surprise and delight our passengers, and creating one more reason that passengers want to choose Lyft.”
What are you most proud of?
“Being able to always put our passenger and driver experience first,” Patel said. “In this case, creating a program that rewards and delights our business travel passengers.”
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