Commerce Engine for the Events Industry
LocalOye is a commerce engine for the events industry, and our first product is a is a platform to discover and book venues.
Finding venues for events is a frustrating experience; involving dozens of phone calls, venue visits and confusing parameters like PAX, Corkage and IMFL Drinks etc. The LocalOye engine takes into account exhaustive meta-data like pricing fluctuations, locality preferences, amenities and catering specialties etc. to suggest venues.
Currently, venues work on less than 50% occupancy rate, even during peak months. LocalOye helps improve this via relevant leads and efficient inventory management. We are already working with 300+ venues in Mumbai and a conversion rate of 67% for venue seekers. LocalOye is also building SaaS solutions for venues to manage incoming leads and build business analytic dashboards.
The events industry is very fragmented; and our data sciences team is excited to expand our algorithms and models in the coming days to better use that meta data. We are excited about solving the issues of Local Commerce, which we believe is so big that it can only be solved piece by piece - and not by Local Classifieds or Review Sites. Taking on the giants of internet industry in this space sounds crazy, risky and a lot of hard work. Thankfully, we are at our best being all the above.