Getting Beyond Yesterday's Tactics to Solve Tomorrow's Problems
Nothing lasts forever. This goes for strategies as well. We function in a dynamic economy that requires us to consider that our customers are facing an every increasing array of choices for entertainment. Decisions that worked last month or last year might eventually stop working. There was nothing wrong with the decision at the time but your market has moved on. They have adapted to new realities. Have your strategies? Do you really know why you made the decisions you did? Do you really know how effective they were?
For ten years we have supported our clients' revenue management decisions. These included pricing, inventory management and yield management strategies. Recently we have noticed a shift. Ticketing organizations are integrating the revenue management discussion into broader business decisions. No longer is revenue management considered a standalone strategy. Rather, it is now understood that RM is impacted by and can impact a range of other business decisions.
We have been following the lead of our clients and have become more involved in providing "decision support" tools and services that extend the benefit of our technology platform. Our apps, reports, predictive modeling and consulting are still focused on revenue management. But we now see that our capabilities can reach beyond the traditional pricing and scaling decisions.
Our business like your business has to evolve to meet the challenges that our client's face tomorrow. We all need to continuously find ways of leveraging our core competencies in order to add value to the marketplace.