BlackCurve, the pricing optimisation company, has announced the closing of a £1m funding round, led by their Chairman, Martin Fincham, with participation from Nauta Capital, The Cambridge Angels Network and other prominent Angels, members of The ScaleUp Group and then bolstered by a matching contribution from the UK Government’s Future Fund.
Ever wanted to know the back story to BlackCurve, and why it was founded?
With dynamic pricing infiltrating so many aspects of our lives, it is less surprising each time a new industry joins the bandwagon.
Given the popularity of dynamic pricing in travel costs (read more with Pricing Strategies for Tour Operators and Online Travel Agents), it is not a shock that hospitality as a whole appears to be looking at stirring up how they price their businesses.
This is true of hotels and also restaurants, the newest thread of hospitality to join in with dynamic pricing in a bid to increase profits and sustainability.
In his article "How to Implement Dynamic Pricing without Sacrificing Margins or Customers”, Arie Shpanya confirms what we probably already knew, that Amazon is still the reigning champion of dynamic pricing.
Dynamic pricing strategy is incredibly important when it comes to pricing your products. It allows real time pricing, whilst factoring in a wide range of different elements that could impact the price of your product.
However, while pricing software becomes increasingly sophisticated and advanced, there are still certain pricing tricks that speak to our inherent value-minded brains.
Price is dependent on the state of the market, what the competition is up to - and how good your product or service is. It’s always difficult deciding how much to charge, especially if you are looking to increase prices.