
Background
Eckerö Line is a well-established ferry operator connecting Helsinki and Tallinn. The company is known for its high-quality service, reliable schedules, and commitment to providing a smooth and enjoyable travel experience for both passengers and freight customers. To enhance revenue management and optimize ticket pricing, Eckerö Line sought an advanced pricing solution that could automatically adjust fares based on demand while maintaining a customer-friendly approach.
In spring 2024, Eckerö Line partnered with Priceff on a pilot project to test dynamic pricing during peak and off-peak periods. The pilot proved successful, leading to a long-term collaboration.
Implementation and Usage
During the implementation phase in spring 2024, Eckerö Line and Priceff collaborated on a pricing strategy for the year. This process was based on historical travel patterns, financial targets, and an in-depth analysis of seasonal trends, weekdays, departure times, and ticket types.
The result was a comprehensive dynamic pricing model for passenger and car tickets, tailored to Eckerö Line’s needs. The model considers demand fluctuations, key travel seasons, and the specific characteristics of the Helsinki-Tallinn route. Priceff’s system automatically adjusts ticket prices daily, ensuring optimal pricing while allowing Eckerö Line to make manual adjustments when necessary.
Throughout the year, the pricing model has been continuously fine-tuned based on demand trends and evolving market conditions. The automation ensures pricing remains responsive and competitive, maximizing revenue while maintaining customer satisfaction.
Results and Future Outlook
“We are very happy with how Priceff’s dynamic pricing solution operates. It enables us to automatically optimize ticket prices based on real-time demand while staying aligned with our business objectives. The results speak for themselves: passenger numbers increased year-over-year, and we achieved a higher average ticket price, leading to a clear revenue boost. The automation has allowed us to test a wider price range than before, and it’s fantastic to see that we achieved both higher passenger numbers and an increased average ticket price—normally a challenging combination. It’s also important to note that prices always remain within set boundaries, ensuring a customer-friendly approach.” – Stefan Nordlund, Sales Manager at Eckerö Line
The automation allows Eckerö Line to focus on strategic pricing adjustments, such as planning for holiday seasons, special events, and changes in ferry occupancy. The ferry industry is highly dynamic, with significant seasonal fluctuations in travel demand, and the ability to adjust pricing in real time has provided a strong competitive edge.
“Priceff’s demand-based pricing automation lets us concentrate on strategic pricing decisions rather than daily price changes. Our collaboration with the Priceff team has been excellent, and their tailored analytics reports—covering key KPIs such as occupancy rates, average ticket prices, and demand trends—have been instrumental in refining our pricing approach.” – Stefan Nordlund, Sales Manager at Eckerö Line
Priceff CEO Heikki Lummaa adds:
“We are very pleased with our cooperation with Eckerö Line. The ferry industry presents unique pricing challenges due to fluctuating demand for each journey and for both passenger and car travel. Our solution automatically adjusts prices for all journeys, from the next day to several months ahead. Eckerö Line’s extensive experience in the industry and strong revenue management expertise have provided an ideal foundation for automated pricing.”
About Eckerö Line and Priceff
Eckerö Line Oy is a leading ferry operator on the Helsinki-Tallinn route, providing reliable and comfortable travel for both passengers and freight. Learn more at www.eckeroline.com.
Priceff is a Finland-based company specializing in real-time, demand-based pricing solutions. Learn more at www.priceff.com.