PRESS RELEASE – September 5, 2024
Eckerö Line, a leading ferry service between Finland and Estonia, implements Priceff’s dynamic pricing solution for ferry and car ticket sales. Eckerö Line currently operates 6 trips per day between Helsinki and Estonia, providing a reliable transportation across the Gulf of Finland with a strong commitment to customer satisfaction.
“We have always optimized our ticket prices by analyzing various factors, such as booking trends, occupancy rates, and demand forecasts. However, with the increasing variation in travel trends of different types of passengers, it became increasingly challenging to adjust prices efficiently across different sailings. We are excited to apply Priceff’s innovative approach, which allows us to continuously adjust prices based on real-time demand and our occupancy targets on a more granular level. Prices are continuously adjusted based on the specific demand and targets of each trip and ticket type. These adjustments happen completely automatically,” summarizes Stefan Nordlund, Sales Manager at Eckerö Line.
“We are confident that demand-based dynamic pricing will enhance Eckerö Line’s growth by optimizing capacity utilization and securing optimal pricing during peak travel periods. Some passengers are highly price-sensitive, while others are willing to pay a premium for preferred travel times and cabin types,” says Heikki Lummaa, CEO of Priceff.
“The demand and behaviour of different types of customers requires us to be always on top of the demand for each ferry service. The early results of using Priceff seem very positive, as we quickly started seeing concrete benefits of the continuously optimized prices. Priceff is easy to implement and use: It does not require complex data science projects or extensive manual work. We are eager to analyze the results further and are optimistic about extending this strategy into the future,” adds Stefan Nordlund.
Additional information:
Stefan Nordlund, Sales Manager, firstname.lastname(at)eckeroline.fi
Heikki Lummaa, CEO, firstname.lastname(at)priceff.com
About Eckerö Line:
Eckerö Line has been a key player in ferry services since its inception, connecting Finland and Estonia with reliable and customer-friendly services. Eckerö Line is committed to providing a seamless travel experience, supported by modern vessels and a customer-centric approach. The company belongs to Eckerö Group that provides further ferry and bus services between Finland and Sweden. www.eckeroline.fi
About Priceff:
Priceff is a Finnish growth company offering real-time demand-based dynamic pricing as a SaaS service. Priceff focuses on sectors such as rentals, bookings, transportation and other businesses with limited capacity. Our solution is a hybrid of revenue management and price optimization, providing continuously up-to-date prices and alerting the customer organization when demand is clearly higher or lower than expected. Priceff currently serves clients in Finland, Sweden, Germany, Italy and Poland. www.priceff.com
