I have a question about dynamic pricing and exchanges -- a cursory search of this forum hasn't come up with anything on the subject, but it seems like someone must have run across our issue.
We have a performance where we have "dynamically" adjusted the prices downward, and we also have a seat-for-seat exchange policy in effect for some customers. When these customers request a seat exchange (let's say from the first evening of the production to the second), we're going to wind up with A) money left over and B) new tickets that print with the lower price.
We don't want to use an "On Account - Lose It" type maneuver to dispense with the leftover money because that would mess up our accounting, and we don't particularly want to advertise to our customers the price difference if they were buying today.
Does anyone else have this issue, and if so, how do you address it? I've been looking into editable prices, but that seems a little dramatic.
Thanks,
Gawain
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.
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