Save Time, Maximize Opportunity, Grow Your Revenue
Dynamic pricing is a strategy in which performing arts organizations and sports teams regularly adjust prices for their tickets (both up and down) based on market demand. Optimal prices are determined by algorithms that can accurately predict the right ticket prices for each performance or game based on historical sales patterns in conjunction with other relevant internal and external factors.
Many performing arts and sports organizations understand the value of a well executed dynamic pricing strategy, yet many still utilize a manual process which can be time consuming and labor intensive. Additionally, they still may make an educated guesses, not see changes in the market soon enough, or take enough factors into account to determine the optimal price for a ticket.
Through an extensive research process, we’ve chosen to partner with Digonex to provide you with a dynamic pricing solution that’s entrenched in years of science and testing. In a couple of minutes a day, you can create a dynamic pricing matrix that will help you maximize the revenue opportunity of each event.
Digonex builds a customized software algorithm that recommends the optimal price for each ticket and updates those recommendations regularly. Their pricing solution does the work of gathering data, analyzing patterns, and determining the right price so that you have more time to focus on your business. All price recommendations are presented to you in SEATS, their web-based pricing portal. You can review, approve and/or modify prices in minutes with the click of a button. Digonex and AudienceView have integrated so that Digonex price recommendations are always based on the latest data, and price updates can be published to AudienceView with the click of a button.
Here are some reasons AudienceView customers love Digonex:
Proven - Their team of PhD Economists create a customized solution that automatically recommends prices to help achieve your organization’s goals.
Efficient - No more spending hours crunching numbers; Digonex automates the process of implementing your dynamic pricing strategy. Their algorithms do work of gathering data, analyzing patterns, and determining the right price so that you have more time to focus on your business
Safe- You maintain complete control. No price is ever published until approved by you.
Easy to Use - Price recommendations based on more factors than sellout percentage. All price recommendations are presented to you in SEATS, Digonex’s web-based pricing portal. You can review, approve and/or modify prices in minutes with the click of a button. Additionally, projected revenue and attendance per performance/game is updated daily.
You can set up dynamic pricing for a series of events, or try it for one large production to see how it works and why organizations who implement it love it!
Explore how dynamic pricing can lift your sales by 20%!
Getting started is easy - Fill out the submission form to explore your options!
For a deeper dive on dynamic pricing, check out this 45-minute webcast with the team from Digonex.