We're currently looking into Dynamic Pricing as an organization, and I was hoping for some feedback from Development people about how it looks from the Development side of the organization--the posts about Dynamic Pricing that I was able to uncover here in the Forums were both a) from a couple of years ago, and b) mostly from the Ticketing side of the equation.
So, for those of you who have been doing Dynamic Pricing for awhile at your organizations and have had experiences with it, how has it gone? How has your organization handled dynamic pricing in regard to both upper-level donors (those who use the concierge desk) for ticketing purchases, and also for internal ticketing policies?
If you've utilized dynamic pricing for upper-level donor ticketing, what type of responses have you received from your constituents? Have they noticed? Have they complained? Have they canceled or downgraded their memberships? We're looking for both the positive and negative responses, as well as any information on membership losses resulting from dynamic pricing.
If you've utilized dynamic pricing for internal ticketing, what was the rationale for doing so? How has it affected your business practices (budgeting, etc)?
Thanks!
Chris
Hi Chris -
We do dynamic pricing pretty aggressively here, but right now only on single ticket prices. We hold our subscriber prices to the same price and advertise this as one of their 'benefits' - this way we don't punish a subscriber if they have to exchange a ticket at a later date. We know this leaves money on the table, but we balance that against customer service. We don't have a really big 'high end donor ticket' plan, so we haven't run into many complaints - our Trustees (and subscribers) do buy tickets that are dynamically priced and then discounted off that dynamic price.
- Heather
Hi Chris - we do a lot of dynamic pricing and our donors for the most part don't really notice. We've had no backlash, and memberships have been unaffected. Seems that the donors realize this is a "separate thing"... Good luck - Erin