SEATTLE--(BUSINESS WIRE)--Revenue Management Systems (RMS) and Sociomantic Labs announce today a strategic partnership that will for the first time ever link airline revenue management with the latest eCommerce capabilities. Data from RMS’ airline revenue management systems will be integrated with Sociomantic’s Streaming CRM platform. This will transform the airline revenue management practice of reacting to inbound demand to a discipline that will also be able to generate demand through personalized display ads that can be delivered online, on mobile devices or on Facebook.
With data integration at its core, this partnership will help convert big data across multiple sources into intelligent and actionable tactics. Airlines will now be able to utilize this new resource for real-time advertising and thus, more effective monetization of unsold inventory. It will result in a never before seen level of sophistication in digital advertising and revenue management, closing the marketing loop between an empty seat and the individual customer that will fill it.
Key Points:
- Most airline revenue management systems simply adjust prices in the hope of either obtaining a higher fare or using a discount to fill an empty seat. Online marketing typically pushes predefined offers to a limited number of broad audience segments. This approach fails to fully recognize the unique circumstances on a specific flight or address the needs expressed by potential passengers.
- The partnership between Sociomantic and RMS connects detailed information from an airline’s revenue management system, frequent flyer program and other CRM data with real-time audience information, thus creating and deepening the relationships between airlines and their passengers.
- The RMS-Sociomantic partnership helps airlines increase revenue by being laser-focused on reaching individuals with real-time personalized offers for seats, class of service upgrades or other perks. It will arm them with the tools to build brand affinity, increase consumer loyalty, and stimulate additional demand.
- Airlines also benefit from real-time insights into the performance of various offers. This allows marketers to adjust messaging or shift budgets to promote specific inventory to improved ad efficiency and achieve better ROI.
Executive Quotes:
- “Unlocking the power of enterprise data and tying it together with marketing is a first-class opportunity for travel suppliers to decrease distribution costs, boost incremental revenue and delight customers,” said Jason Kelly, CEO of Sociomantic. “Travel suppliers need to use the information and systems they already have in place to communicate through digital media as effectively as they do through other channels – and turn eyes into buys.”
- “We have always been innovators in airline RM,” said Scott Schade, CEO of Revenue Management Systems. “The eCommerce capabilities we can now offer our airline customers as a result of our strategic partnership with Sociomantic represents one of the most significant developments in airline revenue management. Combining the knowledge of revenue management with the advertising possibilities provided by the internet create the most compelling marketing tool I’ve seen in my career.”
Upcoming Events:
- Sociomantic and RMS will be showcasing the partnership in booth #40 at the IATA World Passenger Symposium October 29-31 in Dublin, Ireland.
- Sociomantic was nominated for a Travel Innovation Summit “Best Global Travel Innovation” award and will be formally announcing its product at the PhoCusWright Conference, November 19-21 in Ft. Lauderdale, Florida.
About Revenue Management Systems:
Revenue Management Systems, Inc. has developed the most innovative airline revenue management systems available today and their use has directly contributed to the success of many airlines around the world. Their most popular product, airRM, is used by nearly 40 airlines including Ryanair (Ireland), AirAsia (Malaysia) and JetStar (Australia). airRMexpress, their newest offering, brings affordable forecasting and optimization technology to the hundreds of small airlines around the world. Together, airRM and airRMexpress help airlines realize higher revenues and increased staff productivity. RMS, founded in 1996, is a privately held company headquartered in Seattle, Washington (USA).
About Sociomantic Labs:
Sociomantic Labs drives incremental sales at scale for eCommerce marketers with programmatic display advertising solutions for desktop, mobile and Facebook. Sociomantic's proprietary stream-based technology enables marketers in over 60 countries worldwide to harness the value of loyalty, CRM and other first-party data assets to deliver individually personalized dynamic ads for retargeting, prospecting and loyalty campaigns – helping marketers turn real-time data into real-time ROI. Sociomantic has been profitable since its founding in Berlin in 2009, and has grown organically to more than 150 employees in 15 offices across six continents today.
