Dynamic Pricing enables you to automatically increase or decrease your base rate based on the following:
A Specific Date
A Date Range
A Time of Day
Keep reading to see a breakdown of each option.
NOTE: Base Rate Automation must be enabled in order to utilize dynamic pricing.
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Adjust Base Rate for a Specific Date
This option allows you to increase or decrease your base rate for a specific date. For example, you may want to increase your prices for specific holidays like the 4th of July, Thanksgiving, or New Year’s Eve.
To enable this Dynamic Pricing rule:
Start by clicking on Adjust Base Rate for a Specific Date and then click next.
Select the date you’d like to create the rule for, and then click next.
Select whether you’d like to increase or decrease your base rate, then select whether you’d like to increase or decrease your base rate by a dollar or percentage amount, and finally, enter the amount you’d like to increase or decrease it by. Once that has been completed, click next.
Using the dropdown menu, select the vehicles you’d like your dynamic pricing rule to take effect on. Then click next.
Decide whether you’d like this rule to repeat or not. Then click next.
Finally, review your newly created rule and then click activate.
Your pricing rule will now take effect whenever a customer books your selected vehicles on the date you selected.
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Adjust Base Rate for a Specific Date Range
This option allows you to increase or decrease your base rate for a specific date range. For example, you may want to increase your prices for things such as prom season or an annually occurring convention.
To enable this Dynamic Pricing rule:
Start by clicking on Adjust Base Rate for a Specific Date Range and then click next.
Select the date range you’d like to create the rule for as well as what specific days within that range you’d like this rule to apply to, and then click next.
Select whether you’d like to increase or decrease your base rate, then select whether you’d like to increase or decrease your base rate by a dollar or percentage amount, and finally, enter the amount you’d like to increase or decrease it by. Once that has been completed, click next.
Using the dropdown menu, select the vehicles you’d like your dynamic pricing rule to take effect on. Then click next.
Decide whether you’d like this rule to repeat or not. Then click next.
Finally, review your newly created rule and then click activate.
Your pricing rule will now take effect whenever a customer books your selected vehicles within the date range you selected.
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Adjust Base Rate for Time of Day
This option allows you to increase or decrease your base rate for a time of day. For example, you may want to increase your prices for reservations where the pick-up time is past 8:00 PM.
To enable this Dynamic Pricing rule:
Start by clicking on Adjust Base Rate for Time of Day and then click next.
Select the time frame you’d like to create the rule for as well as what specific days you’d like this rule to apply to, and then click next.*
Select whether you’d like to increase or decrease your base rate, then select whether you’d like to increase or decrease your base rate by a dollar or percentage amount, and finally, enter the amount you’d like to increase or decrease it by. Once that has been completed, click next.
Using the dropdown menu, select the vehicles you’d like your dynamic pricing rule to take effect on. Then click next.
Finally, review your newly created rule and then click activate.
Your pricing rule will now take effect whenever a customer books your selected vehicles within the time frame you selected.
*NOTE: In order to create a time frame that crosses midnight, you will need to create two separate, dynamic pricing rules. For example, let’s say you want to increase your pricing for any reservation where the pick-up time falls between 8:00 PM and 6:00 AM. To do this, you will need to create one rule for 8:00 PM to 11:59 PM and another rule for 12:00 AM - 6:00 AM. If you have any questions, please reach out.