Dynamic price rules are an advanced feature that allows you to hyper-optimize your ticket pricing.
You can set date and availability-based thresholds and increase/decrease pricing automatically in real-time based on how your tickets are selling.
For operations at scale, this may be a useful tool that can increase your revenue.
For smaller operations, you may find that this adds unneeded complexity.
If that rings true for your business, there's no need to use this feature.
Examples of Dynamic Price Rules that may be useful
An event is coming up in less than 10 days
Fewer than 5% of your tickets are still available
Increase ticket prices by 20%
An event is coming up in 30-60 days
More than 50% of your tickets are still available
Reduce the ticket prices by 20%
Creating Dynamic Price Rules
Start by creating one or more rules under Events->Dynamic Price Rules.
Here's how you'd create a rule for Example 1 above:
Here's how you'd create a rule for Example 2 above:
A few notes about setting up rules
It's not necessary to use all of the rule fields.
Use whichever fields are relevant to your needs -- leave the others blank (see examples above).
The price adjustment percentage can be a positive number (increase price) or a negative number (decrease price).
Applying Dynamic Price Rules to your Events
Dynamic Price Rules are abstract rules that you can re-use across your inventory however you like.
Rules aren't applied globally, and creating a rule won't automatically cause it to be applied. Rules get applied to your events by way of your Price Levels.
To apply Dynamic Price Rules to a Price Level:
Edit the Price Level under Events->Price Levels.
Scroll to the bottom of the Price Level editor.
Apply one or more Dynamic Price Rules and configure an optional Sort Order.
The Sort Order determines the order in which the rules get evaluated for a match.
Only one pricing rule (the first that matches) will be applied at a time.
Because you can assign any Price Level to any event instance at any time, you have complete control over how your rules get applied to your inventory.
Let's say you operate a Sightseeing Cruise every day at 1pm, but only want to apply Dynamic Price Rules to Sightseeing Cruises on Fridays, you can:
Clone your existing sightseeing cruise Price Level.
Rename the new cloned Price Level accordingly (eg, "sightseeing cruise pricing with 50% rule").
Apply the 50% Dynamic Price Rule to the new cloned Price Level.
Use the Edit Multiple Events tool to find the Sightseeing Cruises on Fridays only, and update the Price Level to the new one you created.
Bringing it all together
Every aspect of Starboard Suite inventory is built with yield management in mind.
Even without Dynamic Price Rules, you can vary your ticket prices, guest types, capacity and resources based on days of the week, times of day or seasons of the year.
For operations at scale, Dynamic Price Rules take this one step further, allowing you to automatically hyper-optimize pricing in real-time as booking conditions change.