Hello,
So we began a dynamic pricing strategy in November 2021.
I have created some dashboards within analytics to track additional revenue thanks to dynamic pricing by looking at the 'variance to ticket home value' dimension and then used an 'order date' filter to only consider orders placed from when we started dynamically pricing (1st Nov 2021). This appears to be working fine apart from one production...
The production in question was moved from the summer of 2021 to christmas 2022 due to COVID. When we moved the production (before we started the dynamic pricing strategy) we also raised prices as it was moving into our Christmas slot. So now when I look at the 'variance to ticket home value' figures for the show, they include not only the dynamic pricing changes since Nov 1 2021, but also the price increases from the show move prior to that. So I can't accurately tell how much of the additional revenue is just down to our dynamic pricing strategy.
Is there anyway of getting analytics to consider the prices on 31/10/21 as base/home prices for this show? Then any price increases after that were down to our dynamic pricing strategy and i'll have the figure I need.
Any help much appreciated!
Cheers
Hi James,
Rather than raising prices on that show, it's more like you want to reset them to a new home price. That's typically done by editing the prices in pricing setup for each layer, with "As of" set to "Home View". Then from the Price Event Feed, you can select and delete the price even that was used initially to raise prices.
Adding on to what Chris said, keep in mind the Home price, by definition, is the price absent any price events. If that pricing change due to the slot move were implemented as a price event, then it's expected behaviour it would be included in the variance to home. That's why you're seeing what you're seeing. If you consider that change a correction to the home price, rather than a price increase, as Chris said, you'll want to edit the home price rather than creating a price event. Hope that helps clarify the root cause of the behaviour.
Thanks Chris, i'll head on over to pricing setup and have a look around. That all makes sense though. Thank you!
Hi, thanks for the reply and all understood.