In the bus sector, competition has increased, and revenue optimization is crucial for the success of companies. To explore the latest trends and best practices in this industry, Reservamos SaaS hosted a webinar in collaboration with Viva Aerobus, titled “Revenue Management: The Value for Companies”.
The webinar featured José Landaeta, Head of Customer Success at Reservamos SaaS, and Félix Velázquez, Director of Ancillary & Revenue at Viva Aerobus, who shared valuable insights on Revenue Management and its impact on the industry.
Industry Context and Challenges for the Bus Industry
The bus industry faces a series of challenges, ranging from competition with other modes of transportation to efficient capacity management and revenue maximization, in a highly dynamic and competitive environment.
In this context, the implementation of effective Revenue Management strategies emerges as a crucial opportunity for bus companies, allowing them to optimize their operations and improve profitability.
The Future of Smart Pricing
During the webinar “Revenue Management: The Value for Companies,” one of the highlighted strategies was the implementation of dynamic pricing. These strategies are based on adjusting prices according to demand and other market factors, which helps attract more travelers and generate higher revenues. José Landaeta and Félix Velázquez emphasized the importance of understanding travelers’ willingness to pay and adapting pricing strategies accordingly.
One of the solutions offered by Reservamos SaaS is BrainPROS, the Revenue Management system that utilizes cutting-edge technology, including machine learning, to analyze historical data in real time and generate intelligent pricing recommendations.
By leveraging advanced monitoring and analysis modules, BrainPROS enables bus companies to create dynamic pricing strategies based on demand, occupancy, and purchase anticipation.
Benefits and Value of Revenue Management
During the session, several benefits were mentioned, as well as the added value that Revenue Management can bring to bus sector companies.
Capturing Missed Opportunities
Revenue Management enables companies to identify and capitalize on opportunities that might otherwise be missed, such as selling last-minute tickets or efficiently managing inventory.
Improving Profitability
By implementing Revenue Management strategies, companies can enhance their profitability by maximizing seat revenue and optimizing bus occupancy.
Demand Anticipation
Data analysis and accurate forecasting enable companies to anticipate travelers’ needs and preferences, facilitating informed decision-making and adaptation to market trends.
Synergy with Technology Providers
Collaborating with specialized technology partners, such as Reservamos SaaS, can help companies avoid the initial outlay associated with implementing internal Revenue Management systems while ensuring access to innovative, cutting-edge solutions.
Strategies for Implementing Revenue Management
The webinar also provided a practical roadmap for companies looking to initiate Revenue Management projects:
Launch of Online Sales
Adopting online sales platforms not only facilitates access to a broader market but also provides valuable data on customer purchasing habits, thus informing pricing strategies and inventory management.
Price-Inventory Discovery
By taking calculated risks and adjusting prices based on inventory availability, companies can maximize revenue and improve operational efficiency.
Selling the last tickets at a higher price can be an effective way to maximize revenue when demand exceeds supply. This strategy, known as “price-inventory,” can help optimize revenue in ticket scarcity situations.
Offer Personalization
In the era of personalization, companies can differentiate themselves and foster customer loyalty by offering personalized deals and prices tailored to individual needs and preferences.
Key Variables in Revenue Management
During the webinar, several key variables were identified that should be taken into account when implementing Revenue Management strategies.
Willingness to Pay Demand
Understanding customers’ willingness to pay for a product or service is crucial for establishing effective pricing strategies and maximizing revenue.
Competitor Prices and Departures
Actively monitoring competitor prices and departures allows companies to quickly adapt to market changes and maintain competitiveness.
Timing and Conversion Price
Identifying optimal times to adjust prices and convert potential customers into actual sales is essential for increasing revenue and ensuring the effectiveness of strategies.
In summary, the webinar provided a deep and insightful understanding of the role of Revenue Management in the bus industry, highlighting the tangible benefits and strategic value that this discipline can bring to companies in terms of revenue optimization, profitability enhancement, and adaptation to changing market demands.
By embracing innovative technologies like BrainPROS and adhering to best practices recommended by experts, bus companies can position themselves for success in an increasingly competitive and dynamic environment.
To conclude, the webinar underscored the importance of collaboration, ongoing innovation, and proactive adaptation as key elements for sustainable success in the bus industry in the digital era.
If you want to learn more about Revenue Management strategies in bus ticket sales, we invite you to watch the full webinar on our YouTube channel. Seize this opportunity to learn from industry experts and take your company to the next level in revenue optimization.
At Reservamos SaaS, we offer innovative technological solutions to empower and digitize bus ticket sales. We are pleased to announce an exciting update on one of our partners’ eCommerce that can change the way your customers travel: Adjacent Seat!
What is an Adjacent Seat?
It’s a revolutionary feature that allows travelers to purchase the seat next to theirs with a special discount, defined by the brand.
This innovative function arises as an initiative from ETN, a premium Mexican company in the bus sector, to provide more flexible and comfortable travel options for passengers, especially those who prefer to have a bit more personal space during their journey.
How is this possible? Imagine being able to travel alone during your trip, enjoying the comfort and privacy that having an additional seat at your disposal offers. With Adjacent Seat, it’s now possible!
Users have the opportunity to reserve an extra seat at a lower cost, thus ensuring an exclusive space during their bus journey.
What are the benefits?
The benefits are manifold and remarkable. Firstly, it offers travelers the opportunity to enjoy a more relaxed and private journey, ideal for those who want to work, rest, or simply enjoy their own space along the way.
Furthermore, by promoting the purchase of an additional seat, this feature has the potential to significantly increase the average ticket per booking, resulting in higher revenues for the associated brands.
How does it work?
Adjacent Seat can be added to each bus company’s website and is automatically activated on the routes indicated by each brand, providing complete independence to enable or disable the service according to the specific needs of each one.
Likewise, only one adjacent ticket per trip per person is allowed, ensuring a comfortable and equitable travel experience for all passengers.
At Reservamos SaaS, we are always committed to innovation and continuous improvement.
With Adjacent Seat, we offer a unique travel experience that redefines comfort and convenience for your travelers.
Don’t miss out on this exciting update and take the travel experience to a new level with Reservamos SaaS!
Optimize your bus ticket sales business with our advanced technological solutions.
In the bus sector, staying ahead of competition and understanding market fluctuations is crucial. Reservamos SaaS has perfected a vital tool: the Competitor Monitor, now enriched with Historical Alerts. This combo offers real-time market insights and retrospective views for informed strategic decisions.
Competitor Monitor: Panoramic Market Insight
Our tool provides an overview of price offerings, enabling bus companies to analyze and compare their position against competitors.
This visibility translates into the ability to adjust and optimize operations according to real and expected demand, elevating business strategy to an even more proactive level.
The recent addition of Historical Alerts significantly enhances the value of the Competitor Monitor. Now, users can set custom alerts offering historical occupancy analysis based on selected periods of 30, 60, or 90 days. This retrospective enriches the ability to anticipate trends, adjust prices, and plan strategies more effectively than ever before.
Direct Benefits of Using Competitor Monitor with Historical Alerts
Dynamic Pricing Strategies
Base pricing adjustments on historical data and market trends for competitiveness and profitability.
Enhanced Strategic Vision
Identify demand patterns, adjust offerings, and anticipate market and competitor moves.
Complete Customization
Configure specific alerts for routes, competitors, and time periods, ensuring relevance.
Streamlined Communication
Keep key team members informed with direct email alerts.
Maximizing Historical Alerts
Setting up and customizing this tool is a simple process, designed to seamlessly integrate into daily operations. You can choose from a wide range of parameters, including specific routes, direct competitors, and the timeframe that best suits what you want to analyze. This flexibility allows for constant market monitoring, facilitating quick and informed decisions.
The Competitor Monitor and Historical Alerts are more than tools; they will serve as strategic partners on the path to a smarter and more profitable operation. At Reservamos SaaS, we are committed to providing solutions that meet current market needs while anticipating future challenges.
Discover how these innovations can transform your pricing strategy and position your company at the forefront of the bus sector.
At Reservamos SaaS, we are excited to present you with the new features of our latest widget powered by Platform AI, an innovative technology designed to streamline and enhance your online ticket selling process through Artificial Intelligence (AI).
Below, you will learn about these new features aimed at transforming your eCommerce.
Personalized Autocomplete: Two-Click Search
Did you know that your travelers’ search can be as easy as a couple of clicks? With our Personalized Autocomplete, we learn from their recent searches to pre-fill the origin and destination fields, thus simplifying the user experience and taking speed to a new level.
“Today” and “Tomorrow” Date Selection: Instant Travel
47% of users search for trips between today and tomorrow. So, we’ve listened and responded. Now, selecting dates is faster than ever with the options we’ve implemented without the need to open the calendar.
Search-Oriented Behavior: Intuitive and Efficient
We have optimized navigation with a search-oriented approach. By requesting travelers’ current location, we automatically direct them to the nearest and most popular terminal from the origin. Likewise, we suggest destinations to help them find what they need easily.
Origin and Destination Switch Button: Your Journey, Your Control
At the heart of the user experience is control. We have incorporated an origin and destination switch button, following best practices in the transportation industry. Now, the search adapts to each traveler, offering the best possible experience.
Ready for an evolving eCommerce?
At Reservamos SaaS, we are committed to the digital success of your company. Our technology, powered by Artificial Intelligence, not only offers an agile and user-friendly experience but also ensures constant updates to keep your eCommerce always at the forefront.
