Beyond Pricing Option
I'm about to switch over to Beyond Pricing for a trial run. But I can't figure out how to ensure that my 7 night min summer rentals are Sat to Sat only. Any suggestions? - I know how to accomplish this manually entering my rates, but not through the Beyond Pricing app.
Any updates that you can share about "Beyond Pricing"?
Have you actually used it and if so, do you see any benefit(s) thus far?
Dynamic pricing is an interesting concept and I believe will gain more traction as more and more competition enters the marketplace. I've played around a little with "DP" using an Excel worksheet I formulated but it is laborious to keep up to date so the idea of an automatic option seems intriquing.
You being one of the MOST Active MyVR members, I respect and cherish your insights.
@John-Hughes - I'm still in the trial period, and have some kinks to work through. The verdict is still out for me.
You have to remember that in theory I was already doing dynamic pricing of a sort with my rentals, having different rates that changed weekly, but I set those rates myself. So I believe some of the revenue benefits I'd already achieved.
So far in my trial, I've booked several weeks at lower rates than last year for the same period, and have had to "reprogram" rates for the monthly discounts. The new system would have had me booking at astronomical high rates, during times when my unit has been historically empty if I'm not below a threshold. I think I know my market well, so the real question is how well I can manipulate the pricing software to reap the rewards of both my knowledge and their competitive data and automation.
I will say that their customer service has been exemplary and they are quite flexible to help make the software work for my market, so I remain optimistic.
If you are not already focusing your rates on at least a weekly, if not nightly basis, and factoring in special events in your area, then dynamic pricing will bring even more benefits for you. Whether you do that with Beyond Pricing, or manually with your rates, that's lost revenue to you if you don't account for the increased demands.
More once I've completed the trial...
@Jenny-Oest Any update on Beyond Pricing?