07 Jan BEONPRICE – NURIA GARCÍA
Beonprice is the most comprehensive and efficient solution of Revenue Management. Based on the leading big data technology and artificial intelligence, Beonprice facilitates and optimizes price management decisions in the hotel industry. Nuria Garcia, the Marketing&Communication Manager shares her thoughts and top tips on being a Eurolatina startup!1. What makes LATAM a great opportunity for startups?
LATAM is an incredible opportunity for startups. Firstly, because of the language barrier that makes it easier for startups from Spain to enter and secondly, because of the adaptation of a scalable product such as Beonprice’s solution that fits the needs of the Latin American market.
2. Why LATAM and no other regions?
LATAM is one of the most “grateful” markets that because of its maturity and adaptation is easier to fit in terms of product. In addition to the synergies that can occur with different partners.
We have presence offices in Mexico, Colombia, and hotel chains clients in the main countries of LATAM as well as Brazil where we also work with some of the main partners in the market.
3. What are the main challenges startups are facing when expanding to LATAM?
The main challenge is not to feel indifferent to differentiation, to adapt the product to the needs of the market, to invest more in technology and in relations with partners than in offices.
LATAM is a market in which you have to invest a lot to plant, but then it is very generous. The potential market is big in clear boom that requires investment in customer training, in offering the latest technology and a very close service.
4. Key learnings/recommendation for startups planning to enter the LATAM market.
• Strengthen relationships with market partners.
• Work on the adaptation to the specific market: currency, events….
• Take advantage of the links between companies in Spain and LATAM with strong internal ties.
• In the ADE2020 program of the JCyL, we met who is currently our partner in Mexico, Luis Menendez, who helped us to do the first phase of exploration, prospecting in the first customers, the product adaptation and now the expansion throughout the region of LATAM along with the office in Colombia.