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Dynamic Pricing

Analyzing Dynamic Pricing Results

About This Course

Learn how to utilize TripWorks reports to optimize your dynamic pricing rules by understanding which activities are busiest and when. This video explores the activities report, showing how to use the date picker to select time periods and group data by month, day, week, or year. See visual representations of booking trends and net sales, and get insights into which activities are most popular during specific months. Discover how to adjust pricing rules to raise prices during peak months and lower them during slower periods. Use these insights to fine-tune your pricing strategy and maximize revenue.

Transcript

Utilizing your Tripworks reports to understand which activities are busiest and when will enable you to fine tune your dynamic pricing rules accordingly. Right now we're looking at the Activities report.

Using the date picker, we can select a time period and we can even select a grouping. For example, we can group things by month, day, week, and year. In our example, let's group things by month. We can see a great visual here letting us know which activities are being booked the most.

The fun machine in this case is a pretty popular one. As we scroll to the bottom, we can see a breakdown of our net sales and then each activity on the left. If we expand the data underneath each, here we'll see a breakdown of the monthly sales for this activity.

Looking over on the right, we can see that May and June were really successful months in terms of revenue. In this case, we may consider setting up pricing rules to raise our prices a little bit during these months.

Additionally, we may lower our prices during the slower months in hopes to sell more tickets. You can click through each different activity in your report to get some insights on your busy months versus your slow months.

Feel free to play around with these settings on your own, but again this is a great way to grab insights on your peak seasons, your slower months, and then assist you with setting up the right pricing rules for your business.