Global B2B events organiser Tarsus is partnering with event software specialists Smartxpo to deploy a new pricing and customer retention engine (named Profisy). Powered by Artificial Intelligence (AI), and combined with market, GDP and inflation rates, Profisy is designed to give Tarsus access to real-time recommendations on optimal prices across all physical and digital products, encompassing several of its largest brands.
Price-setting is particularly challenging due to increased market volatility and exceptionally high inflation rates and the partners point to a growing trend toward the use of data science and independent benchmarks to assess the impact on customer retention and find the sustainable price points that each event market can bear.
Douglas Emslie (pictured), CEO of Tarsus, says: “Our partnership with Smartxpo reflects the importance we place on customer retention, and the potential presented by new and innovative tools to make evidence-driven decisions.”
Phil Stone, CEO of Smartxpo adds: “We are excited to announce our work with Tarsus as we deploy the new Profisy pricing engine. Managing a business through a period of high inflation is always tough, and our mission – using data to find that delicate balance between price, profit and customer retention – is perhaps more relevant than ever.”
Tarsus Group operates across numerous verticals including aviation, medical, labels, travel and manufacturing, with leading brands such as the Dubai Airshow, Labelexpo, Hometex and Connect Meetings in its portfolio.