Dynamic Pricing and Exchanges

This is one of those instances where keeping both the old and new price maps in the Price Type and just using date and time to control which price is active would really help.  Then you could just keep the exchange in the original order as if the price never changed at all because the date on the older Price Map would be active for that older order date.  Make sense?

From: Jon Miles [mailto:bounce-jonmiles6334@tessituranetwork.com]
Sent: Thursday, February 10, 2011 5:37 PM
To: Nicole Keating
Subject: Re: [Tessitura Ticketing Forum] Dynamic Pricing and Exchanges

For our season ticket holders (the people who usually do the exchanges), we don't adjust the package price when we raise the standard price.

That being said, we don't adjust prices downwards with dynamic pricing. Instead, we use targeted offers and discounts to try and stimulate demand. That helps to avoid complaints and problems with the people who bought tickets earlier and paid more (as long as they don't hear about the offer).

If you want to continue to use a new order, you could also use a fee to sweep the left over money away.  From the documentation on fees: “Balance Due (After other fees) and (before other fees) are fees that are automatically added to orders when there is a negative balance due in order to recapture that balance.  This type of fee is used when higher priced tickets are exchanged for lower priced tickets and business rules dictate that the difference is not returned or credited to the constituent. 

A balance due fee can be calculated after other fees, meaning the amount of the fee is set to be equal to the negative balance after any other fees on the order have been applied, or before other fees, meaning the amount of the fee is set to the negative balance due before other fees have been applied. 

For example, if a ticket valued at $50 is changed to a ticket valued at $45, and there is a handling fee of $2 for the transaction, a balance due (after other fees) fee would be calculated to $3, leading to a total balance due for the order of $0.  If the fee was set to balance due (before other fees) for the same transaction, it would be calculated to $5, leading to a total balance due for the order of $2, the amount of the handling fee.”

We use this kind of fee with great success and just apply it to every show that is may be exchanged.  That way if money is left over the fee is applied automatically and the money goes away.  And if you use the ticket element that includes fees with your prices then the new ticket will print the same price as the old ticket. 

Elizabeth Carlock

Director, Ticketing Services

The Granada

And that makes sense to her as well!  I guess we typically do exchanges in a new order just to simplify bookkeeping, but here at least we'll make an exception.  Thanks a bunch!

--Gawain

We only allow subs to exchange tickets, and we don’t change the price on sub tickets.  Makes dynamic pricing worry-free!

Ellen Holt

Box Office Manager

Celebrity Series of Boston

20 Park Plaza, Suite 1032

Boston, MA 02116

617-598-3224 (p)

617-598-3291 (f)

www.celebrityseries.org

From: Tessitura Ticketing Forum [mailto:forums-ticketing@tessituranetwork.com] On Behalf Of Jesse Dillman
Sent: Tuesday, July 26, 2016 2:07 PM
To: Ellen Holt
Subject: [Tessitura Ticketing Forum] Dynamic Pricing and Exchanges

Our organization is planning to start dynamically pricing shows using pricing events. We've been able to dispel most of our concerns in regards to how it looks on reports, but myself and the other ticket office management are worried about how to handle exchanges.

We're interested in other organizations policies and procedures for exchanges on shows that have had an increase in price through a pricing event. Did you increase all prices or did you leave out subscription or discount prices? Do you perform exchanges at the original price in the original order, or do you charge them the new price in a new order, even if they are in the same section, possibly moving to worse seats? Does anyone have a work around to offer the original price in a new order without making it a huge hassle?

I couldn't find a session on the conference schedule that seemed to deal with this, so any and all insight anyone with experience in this realm might have, is welcome.

This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Ticketing Forum. You may reply to this message to post to the Ticketing forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!

We dynamically price and Standard Price Types and sometimes Group Price Types. We do not currently dynamically price Subscription Price Types. Usually other Discount Price Types are only created for distressed inventory so if we are dynamically pricing we would not also have Discounted Price Types in that area of the house and would not dynamically price them.

Reports will pull whatever the price was that was actually sold into the record. (Same goes with T-Stats.)

If you use Price E vents to dynamically price then you could do exchanges in the original order if you want to keep the price the same as that which was originally sold. I try to get everyone to exchange into a new order because we want the additional revenue.

Dynamic pricing has changed a lot since the creation of Price Events so if you are looking at older info in the forums and past conferences just make sure it wasn’t too far back.

We dynamically price quite a bit. We grossed over $1M in incremental income this Fiscal Year alone.

Do not be afraid… J

Nicole

From: Tessitura Ticketing Forum [mailto:forums-ticketing@tessituranetwork.com] On Behalf Of Jesse Dillman
Sent: Tuesday, July 26, 2016 2:10 PM
To: Nicole Keating <nkeating@arshtcenter.org>
Subject: [Tessitura Ticketing Forum] Dynamic Pricing and Exchanges
Importance: High

Our organization is planning to start dynamically pricing shows using pricing events. We've been able to dispel most of our concerns in regards to how it looks on reports, but myself and the other ticket office management are worried about how to handle exchanges.

We're interested in other organizations policies and procedures for exchanges on shows that have had an increase in price through a pricing event. Did you increase all prices or did you leave out subscription or discount prices? Do you perform exchanges at the original price in the original order, or do you charge them the new price in a new order, even if they are in the same section, possibly moving to worse seats? Does anyone have a work around to offer the original price in a new order without making it a huge hassle?

I couldn't find a session on the conference schedule that seemed to deal with this, so any and all insight anyone with experience in this realm might have, is welcome.

This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Ticketing Forum. You may reply to this message to post to the Ticketing forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!