Reservamos SaaS provides bus companies with a tool that allows them to analyze their market and promote effective pricing strategies.
A fundamental characteristic of digital travelers is the power technology has given them to analyze the available offer and make much smarter purchasing decisions according to their needs and budget.
Digital sales channels provide travelers an advantage to compare prices, find out about route and schedule options, search for the best option, and access a purchasing experience from any mobile device in just a few clicks. Today more than ever, access to information and analysis of the available options becomes an advantage for travelers when choosing a destination or planning the next vacation.
But what happens when users are better informed about the options available to them than the companies themselves? Being aware that digital travelers today spend more time researching before making a purchase decision, forces bus lines to be one step ahead, to maintain a competitive advantage.
Being present at the right moment of a traveler’s search and offering the correct price at the precise moment can be the difference between acquiring a new passenger or the user choosing another more convenient option.
And while various factors intervene to guarantee optimal purchasing experiences, such as having a dynamic, efficient, and secure eCommerce, as attractive marketing strategies that boost digital sales. There are also fundamental factors, such as price, availability, schedules, and destinations, that could help bus companies to increase competitiveness and revenue.
Visualize the market behavior
Reservamos SaaS has developed technology solutions that drive the growth of bus lines worldwide to help them connect more effectively with digital travelers.
A key solution for this is the Competitor Monitor, a web tool that allows price analysts, data analysts, operations managers, and sales managers, among other members of the bus company, to visualize and analyze the behavior of the market, making better decisions on pricing strategies and inventory optimization.
The Monitor is a module that is part of BrainPROS, which facilitates the analysis of public market data through technology used in other sectors, such as airlines.
Through this technology, bus companies have updated and automatic market information at their fingertips, such as routes, schedules, capacity, and prices, using Data Science techniques.
With this tool, bus lines can:
- Optimize and automate market analysis processes and their performance.
- Understand the demand curve existing on a route and make decisions about inventory, such as openings or schedule changes.
- Know the average, minimum, and maximum price of a route.
- Determine price sensitivity among digital travelers.
- Analyze the evolution of prices and acceptance of different types of services.
The future of smart pricing
The new consumer trends among digital travelers force industries, such as the bus sector, to transform to provide an attractive offer that meets the market needs.
Before, travelers had to adapt to the available tourist offer and the holiday periods. But, technology has meant that trips are no longer anchored only to temporalities nor to the usual tourist destinations. Today digital travelers are looking for everything from short weekend domestic trips to longer stays for digital nomads or people who carry out their work and economic activities remotely. This has prompted the tourism sector to increase its dynamism and abandon flat rates, to adapt to a traveler who has the freedom to move to any destination, at any time.
A great advantage of the Competitor Monitor is that the tool does not require any integration with the technology of the bus company, which enables its use from the beginning, and encourages a data culture among the members of the company by optimizing market analysis.
Some of the lessons that have been observed and that can be highlighted from the use of the tool are:
- Improvement in the distribution of schedules.
- Optimization in price variability.
- Understanding the distribution of supply in the market.
- Adjustments in the offer according to the market behavior and travelers’ consumption.
- Fundamentals for making decisions based on data.
By having an overview of market behavior, bus companies can implement recruitment strategies, add discounts, activate promotional coupons, or develop effective marketing strategies that encourage the purchase of tickets. And it also helps reduce costs, personalize the offer, and reach the main goal: increase competitiveness and revenue.
The specialization and experience of Reservamos SaaS allow us to safely accompany the digital transformation of bus companies, increase their revenue and streamline their operations.
Contact us at [email protected] to learn more about the Competitor Monitor.