Hi there.
Has any organization created a report or process that automates your Dynamic Price Event entry?
We have 227 performances this season with 44 sections of the house that can potentially have an adjustment.
We meet on a weekly basis and are given spreadsheets with the information on which performances, what sections and what the new pricing will be. We have to add the changes to the existing layer.
This is now VERY MANUAL in v12.5, Any feedback, advice or recommendations are welcome!
Thanks
Susan & Rony
Susan,
We're in the same situation. We had a fairly automated system in v11 that worked great, but now it's completely manual in v12 and we haven't sat down to automate yet. As Tom mentions, the new version of RMA will allow for some automatic price events, but we haven't upgraded yet and I haven't saw any documentation on how it works.
I feel your pain - we are at 638 performances in 4 facilities with 28/26/25/7 zones in the facilities, but not all zones or price types get increased. Dynamic pricing has almost become a full time job in season.
Michele
To all interested,
We are working on the same problem (on v12.5), right now, with hopes of having a custom solution to automated daily updates on 800+ performances in the coming season. I'd be thrilled to discuss any ideas around accomplishing this. I'm right in the middle of developing the procedures this week and next, so happy to share and collaborate on developing a free automation solution for both criteria assessment and implementation.
I'd also be interested to know what variables/criteria others have found to be either useful or misleading in terms of accurately meeting demand price. I'm particularly interested in any early signals that sales might be picking up or stalling on a particular performance. I've found we are often just behind where we need to be in dynamic implementation in terms of getting caught on the wrong side of a big change in sales momentum.
Please email me if you want to dig in.
Cheers for opensource,
Marc
_________________________________________
Marc Friedman
Oregon Shakespeare Festival • Audience Insight Analyst
marcf@osfashland.org • (541) 482-2111 x 398
Hi Marc and all,
Definitely interested in automated dynamic ticket pricing that is seat inventory based rather than date based. We would need both for our organization, but obviously only the date based automatic pricing is available. The other we have to accomplish manually, and like you, find that there are times we fall behind the sales momentum.
Excited to hear what others think and have to offer. Thank you.
We too need a more complex model that takes into account available seat inventory not just of the performance in question but of other performances +/- a few days. Since we are rotating rep, for us this can include up to 10 different titles across 3 venues in a given week. Understanding the sales momentum and available capacity of all nearby shows can help to solidify overall demand for a week as well as identify "proxy" performance dates. Proxies refer to patrons' second choice dates; if the popular date looks on pace to sell out, it may make sense to raise the price on potential proxy dates ahead of time even though they are not yet well-sold.
Momentum is a harder nut to crack. Teasing out the signal from the noise for momentum and doing it with the confidence to implement more frequent and agile automated price changes is the key. Just like with the stock market, once the trend becomes crystal clear, it's already too late to buy. But we've definitely been on the other side of it, where we jumped the gun boosting prices for a title based on what ended up being false sales signals. By the time we realized we had overpriced the title, the bottom had fallen out of the demand.
Does anyone fell they have a really good handle on identifying true early signals of momentum shifts?