We're thrilled to tell you about a new feature called Dynamic Price Rules that's now available in your Control Panel.
About Dynamic Price Rules
As you know, every aspect of Starboard Suite inventory is built with yield management in mind.
You can vary your ticket prices, guest types, capacity and resources based on days of the week, times of day or seasons of the year.
Dynamic Price Rules take this one step further, allowing you to automatically hyper-optimize pricing in real-time as booking conditions change.
You can set date and availability-based thresholds and increase/decrease pricing automatically in real-time based on how your tickets are selling.
For operations at scale, this may be a useful tool that can increase your revenue.
For smaller operations, you may find that this adds unneeded complexity.
If that rings true for your business, there's no need to use this feature.
Examples of Dynamic Price Rules that may be useful
An event is coming up in less than 10 days
Fewer than 5% of your tickets are still available
Increase ticket prices by 20%
An event is coming up in 30-60 days
More than 50% of your tickets are still available
Reduce the ticket prices by 20%
Creating Dynamic Price Rules
Start by creating one or more rules under Events->Dynamic Price Rules.
Here's how you'd create a rule for Example 1 above:
Here's how you'd create a rule for Example 2 above:
We've created an article in our Knowledge Base with more details and examples.
If you have other questions, just let us know!