CHF200,000 for activities marketplace Smeetz

If a dance school wanted to sell discounted last-minute tickets for a show, for example, or a yoga instructor felt like advertising a Tuesday morning class, they had no easy way of doing so – until now. The online booking platform developed by Smeetz enables activity organizers to carry out sales and marketing tasks and manage reservations through an intuitive, easy-to-use interface.

A new feature lets organizers implement dynamic pricing strategies, like those used by hotels and airlines. This feature employs sophisticated data analysis techniques and is the first of its kind in the industry. By giving activity organizers the possibility to use dynamic pricing, Smeetz opens the door to a host of new opportunities. Such differentiated pricing methods have already proven effective for boosting revenue in other industries. Recent adopters include ski resort operators, who use dynamic pricing to sell discounted tickets for ski lifts when certain conditions are met.

Smeetz’s algorithm can adjust prices in real time within a range set by the activity organizer; other variables can also be entered such as the timetable and number of participants. That saves precious time for organizers and lets them make optimal use of their venues, target new market segments and maximize their revenues. The algorithm even takes the weather into account.

Smeetz makes money from subscription fees as well as a commission it charges on sales carried out through its platform. The company is initially targeting major event and activity organizers in Switzerland; some 220 such firms are already customers, including the WTA Ladies Open, D! Club, the Chocolate Festival in Lausanne and the Villars-Ollon Afterseason Festival. It hopes to eventually sign up all of the 40,000 small businesses in the Swiss tourism industry.

Smeetz will use the CHF 200,000 “FIT Digital Growth by EHL” loan to hire additional sales staff and prepare for a Series A fundraising round, with a view to stepping up its business development internationally. Smeetz will operate from the EHL Innovation Village.

(Press release)

Picture: Smeetz Team