Max Revenue was inspired by large enterprise systems that airlines use. While super large corporations may have a system like this in place, most small businesses don’t have access to such statistical data tools. Either due to pricing they need to incur to get such a system or they simply don’t have the data that such a system can use.
What it does
Max Revenue aims to give small - mid size businesses a revenue management system that allows them to price their merchandise right at all times and target to prospective leads. Max Revenue aims to democratic access to a large dynamic pricing tool that most small businesses don’t have access to currently. The system provides a business owner with unique channel to target highly valued leads with individual offers depending user profiles.
How we built it
The business owner is required to enter zip code to run the system. The system looks at market conditions such events (EventBright and Twitter), competitors (Expedia) etc and determines pricing at any moment searching for prospective leads on Twitter. Finally, business owner able to target prospective leads that have high interest in his services thought following and sending private customize offers on Twitter. Depending on the business the system determines overall factors that can affect them, such as conferences, music shows and etc.
Challenges we ran into
Accomplishments that we're proud of
Fully working prototype that:
- generate right price for prospective leads based on the competitive analysis and event exposure analysis
What's next for MaxRevenue
Max Revenue differentiates itself by using open source knowledge and available sources on the web to determine for a business the right pricing rather than the business having to supply their own data.
Max Revenue aims to democratize access and will model it’s business after companies like Stripe or Square where they give the ability to small businesses to have competitive advantage on a technology.
Pricing will be a freemium model. There will be tools the businesses can use for free (such as competitive analysis) and for more advanced tools (e.x. prospective leads research and target ) they will pay a subscription fee of $99 -$250 per month.
The Industries that can use Max Revenue for their websites are:
Hotels E-commerce Retail
Max Revenue will first go after the hotel industry. Right now Independent hotel owners are determining pricing by going from site to site and eyeballing it. Max Revenue will give them a super easy way to determine pricing and provide a new channel of sales (Twitter).
Independent hotels right are $6B industry with 6% annual growth. We believe we can make an impact of boosting each hotels revenue by 40%.
We built out a demo to showcase what hotel owners will be able to research pricing and target prospective leads. They can see their competitors pricing, events in the area and and target leads on Twitter.