The combination of technology, product and service produces the flame that leads to success and we must keep all three factors active.
By Jesús Racionero, COO at Beonprice
Haz clic aquí para leer la versión original en español.
To show an analogy that we all have in mind, fire depends on three factors that we often see represented as the triangle of fire:
If we want to extinguish it, we must eliminate one of the elements, but if we want to keep the flame alive, we must ensure that all three ingredients are present in the right proportion. Making this permanent over time presents some challenges.
At Beonprice we strive to keep the flame alive at all times and we do this by ensuring that the teams responsible for maintaining each side of our triangle work in a coordinated and effective way with the help of the processes defined for our Customer Journey.
But how do we turn fire into success? If we change the ingredients, we will quickly see how to do it:
- Fuel x Technology
- Oxigen x Product
- Heat x Service
Technology:
There is no doubt that without innovative technology we are going to find it very difficult to ignite the fire. Our team has a major challenge ahead: to provide the best artificial intelligence platform to build the most competitive revenue solutions on the market.
The design, improvement and development processes are geared towards achieving this challenge and the no less important one: to make it profitable from the company’s and customers’ point of view. Thus, we have capabilities such as scalability, robustness and optimal data processing capacity to support the huge amount of data that we need to process several times a day to support our customers’ businesses.
Here we rely on a culture of innovation to ensure that we incorporate new ideas and different points of view, integrate different sources of more reliable data and incorporate them into the process in the most efficient way.
This challenge, without having strategies and processes to guide us, would be much more difficult.
Product:
Having got the gunpowder, we need the most competitive weapon. It is the turn of our Product.
The goal: to build the best revenue management algorithm on the market, which provides reliable predictions to automate the decision on the best price at every moment, for every element of the inventory and channel. We also seek to facilitate the management of all the parameters that will feed our algorithms, and to show in the most efficient way how to get the most out of each of our clients’ hotel rates compared to their competitors.
Among the challenges we have faced over the last year and a half is the tremendous impact of COVID 19 on the industry, which has required an algorithm that is not so dependent on historical data, as this crisis has rendered it practically useless, and to be able to discriminate the continuous change of trend due to the ups and downs of the pandemic.
Another achievement in recent months has been the evolution of the product’s functionality, incorporating:
- a new inventory to allow flexibility in the configuration of the inventory on the platform,
- a segmentation treatment that opens up the range of segments so that the hotelier has all the flexibility he needs.
- the integration of BI solutions specific to the field of Revenue Management, providing clear dashboards that allow our clients to manage their hotels in the most efficient way.
We have built a product with a very high competitive advantage and which brings enormous value to our customers.
Service:
Once we have the most competitive product based on the most efficient technology we “only” lack:
- Finding our customers. For this, our Marketing team defines the necessary strategies to achieve the sales objectives.
- Reaching our potential customers. To do this, our Prospection team carries out an exhaustive investigation of each Lead provided by Marketing to qualify the most interesting Leads, paving the way for the Sales team.
- Understanding how we can add value to each of them. This mission is carried out by our Sales team who:
- Prepares the best personalised value proposition for what really helps them to grow.
- Reach a win-win agreement.
Do we already have our customer… ? We want a happy customer (WoW!!!)
4. The commissioning of the new customer in record time, coordinated by our Customer Experience team:
- Connects your establishment to our platform, by optimising the integration through our Integrations team.
- Configures all the parameters that help to optimise the predictions, with the help of our Customer Care team.
- Train your staff so that they can get the maximum benefit at all times, from Account Managers.
- Accompanies our new partner, helping it to grow in maturity and revenue, with the help of our Account Managers.
- Solve any incident or doubt that may arise in their day-to-day work, with our Customer Care team.
5. Ensure that our technology and product continue to improve on a daily basis, again with the help of our Technology / Data and Product teams.
The key is that all the teams that make up Beonprice are aligned with a common goal:
OUR CUSTOMER’S BEST EXPERIENCE: WOW!!!
All sides of the triangle (Technology, Product, Service) are necessary to keep the flame alive. Every day we work on improving our processes to achieve maximum efficiency in each activity carried out by each of the teams, always looking to keep improving, so that the flame continues to shine brighter and brighter.
