Dynamic pricing – tools, tactics, strategy
David Wakeman hosts a popular podcast, The Business of Fun. In this episode he interviews the founder of Vatic, Sean Kelly and gets down to the nitty-gritty of dynamic pricing.
A really thoughtful 30-minute listen between two international leaders in the field about the challenges that non-profit arts organisations face when implementing dynamic pricing.
Sean Kelly, founder of Vatic (dynamic pricing tools for the preforming arts and ticketed venues) talked through the tactics that any organisation can use to evolve their dynamic pricing strategy:
- How can you be more granular in the way you price and sell your tickets?
- What are the first steps you need to take to develop a dynamic pricing strategy?
- Moving pricing up and down
- Scaling, sales velocity, and managing demand
- Underestimating the value of your shows
- The link between the price of a subscription and the price of an individual ticket
- Using the data you have to tell a better story
- The results of using dynamic pricing