Pricing Will Be Critical In Adjusting To Car Rental Industry Changes
ICRS seminar to deal with revenue generation in a new age
The fine art of pricing in the car rental business comes down to determining those rates set for the right time and being in a prime location to reap the benefits. However, it’s a much trickier craft than ever before, due to changes in the industry pertaining to shifting demographics and deriving the technology to answer their needs.
Variables like revenue per user, revenue per transaction and even channel metrics could be common procedures in monitoring what’s flowing into a business. How a company can stay on top of those results to forecast its financial future could be a murky proposition. After all, there are impending changes from shifts in consumer choice to attracting those niche-oriented micro-markets.
ICRS Seminar Dedicated To Pricing Strategies
The seminar, Driving Revenue and Margin Through Better Pricing: What Works and What Doesn’t, taking place March 24 as part of the International Car Rental Show in Las Vegas, might benefit firms concerned about their revenue streams. Panelists will include RateHighway product manager Chris Mitrision, Rate Pros president Shona Nabity and MarginFuel CEO Andrew Pascoe. All three speakers will share their experiences in determining successful pricing strategies. They have worked with and tracked hundreds of car rental companies around the world. Attendees will certainly leave with a renewed wealth of knowledge.
RateHighway may likely share experiences with its most recent platform, RateMonitor Elite, which is designed to make real-time data and analysis available, enabling its users to make the most optimal pricing decisions. Its upgrades include faster data transfers and increased user-friendliness.
Rate Pros is more service-oriented, with a staff of pricing professionals in the car rental trade who are also proficient in the workings of Bluebird technology as well as other industry software. The experience of its staff focuses on how value-brand companies can set the most ideal prices for their operations. Services include market and software analysis, revenue manager training and assistance on an as-need basis. After all that groundwork, they’ll help a company design and implement a new strategy based on more revenue generation.
MarginFuel boasts a track record that involves offering new price maximization software capable of delivering up to 10 per cent revenue gains a year. A user-friendly interface contains artificial intelligence technology geared towards forecasting market and pricing conditions. This also provides clients an inside track to where the industry is headed. Company data scientists have collectively accumulated half a million hours of price optimization experience. Their experience extends through the tourism and vehicle rental industry.
ICRS 2020 is less than three weeks away and Bluebird is looking forward to attending. The Bluebird team will be sharing product news and updates, as well as what’s to come. Bluebird will also be sharing booth no.323 with sister company Thermeon. The show will not only connect Bluebird with clients, but also help stay in tune with industry trends. Bluebird will also hope to connect with fellow auto rental industry professionals.