“I’m too busy to implement a complex new pricing tool”
With modern software and data analytics tools, dynamic pricing is accessible to any team, however busy, thanks to automation. DynamO developed a very straightforward and easy-to-use interface and provides free support and assistance. Setting up the dynamic pricing parameters for a typical theatre performance (3-5 different ticket categories) takes 2-5 minutes for our clients. Even very small theatres and music groups with only 1 person managing ticketing are achieving great results using DynamO.
“We have lots of one-night shows and we don’t have autonomy on price-setting (we have to set prices in line with promoters / producers), so dynamic pricing can’t work for us”
Dynamic pricing can be applied to a wide range of events, including one-time performances, festivals, sports events, and more. Predicting the success of a one-time event can be very tricky as success depends on multiple variables: big names, promotion partners etc. However, dynamic pricing actually helps to mitigate the risk associated with one-off shows or short runs. Over time it becomes a highly effective tool to support performance lifecycle evaluation and decision-making.
When first implementing dynamic pricing you can talk to your partners about whether they want to do it or not, and if not you don’t have to dynamically price their shows. Once you have dynamically priced a few shows you can show them the data to evidence the potential ROI they are missing out on and they will likely choose to participate, as we’ve seen with numerous clients in this position.
“If the prices are always changing how can I forecast accurately?”
Forecasting is always an educated guess about the future. With dynamic pricing, forecasting is actually more reliable than with fixed / static pricing, because it reacts to market fluctuations and generates additional yield on popular shows while boosting audiences at less popular performances / events. Ticketing managers can predict based on their past experience as they usually would. The only change they need to make is that they should expect better results both in revenue and tickets sold than ever before. A typical DynamO client generates 14-17% average revenue growth while reducing unsold inventory by over 20%.
“We often have to paper / discount heavily at the last minute to fill a show, dynamic pricing will only exacerbate this late booking behavior - we want to encourage early bookers!”
Dynamic pricing can help encourage early booking and aid in avoiding last minute discounts to fill an event. In many cases prices increase as the event date approaches and availability decreases. There are many logics that can be applied in dynamic pricing and it’s never guaranteed that tickets will be cheapest at the beginning of the sales period, or at the end of it, or anytime in between! While it can provide a kind of gamification opportunity to ticket buyers, there is not a simple and consistent rule that they can follow. With dynamic pricing they can’t just wait and be guaranteed a cheap ticket.
“As a not-for-profit organization, I don’t think it’s a good fit - dynamic pricing is designed for profit-making companies.”
All kinds of cultural institutions can benefit from dynamic pricing. Optimizing ticket sales allows you to break down cost barriers across your programming and reach a wider audience, while ensuring financial sustainability. Dynamic pricing strengthens any mission-focused organization’s pricing strategy. It can result in wider availability of cheaper tickets and longer periods of availability for high-demand performances. Organizations such as the Hungarian State Opera, Operetta Theatre, and Palace of Arts have demonstrated how beneficial this approach can be. With the additional revenue generated, these institutions can further improve service quality and invest more in their artists, creating a positive social impact.
“Ticket buyers don’t want another layer confusing them - it’ll stop them from completing their purchase”
“Dynamic pricing is only for profit driven organizations. It won’t help us reach new audiences or build lasting relationships with our communities.”
Arts organizations need income in order to operate and bring their unique value to audiences and communities. Historically in the UK this has been generated through a combination of national or local government funding, philanthropic giving and earned income (i.e ticket sales). With a 16% real terms cut in arts funding since 2017, the shortfall needs to be picked up for the cultural sector to continue doing their vital work. Philanthropy in the UK is not as strong as in North America and although it has trended upwards since 2018 evidence shows that we can’t rely on this. The area where organizations have most control is their earned income.
Maximizing this is fundamental to survival.
Increasing ticket revenue supports all organizational goals whether that is better-paid artists and staff, higher production values or more community and outreach work. Without financial stability, organizations and the value they bring for their communities is at risk.
“Dynamic pricing isn’t good for audiences, they won’t respond well…”
Anna Hetényi, Head of Ticketing at Müpa (Palace of Arts), shared her experience with combining dynamic pricing and their established loyalty program:
"DynamO implemented their dynamic pricing solution with maximum flexibility, fully accommodating our specific needs at Müpa. They seamlessly integrated their system with our well-established loyalty program, allowing us to preserve its benefits for our loyal customers. For instance, during our pre-sale periods, we offer tickets at fixed prices, and once these periods end, we switch to dynamic pricing. This approach has enabled us to maintain customer satisfaction while optimizing our revenue through a tailored and adaptable pricing strategy."
“Dynamic pricing is just about increasing prices, it’s not fair on the audience”
In contrast to the belief that dynamic pricing simply increases ticket prices and locks out some audiences, it can be the key to understanding the true market value of your ticket inventory, and being able to price strategically. As part of a well-rounded pricing strategy, you can maximize ticket revenue and make tickets available to the widest possible audience at the same time.
Recently, the highly anticipated reunion tour of the iconic UK band Oasis has captured the attention of music fans worldwide. With the buzz surrounding their return, the demand for tickets has been through the roof. Unfortunately, the ticketing experience has left many fans more than disheartened, thanks to an avoidable problematic implementation of dynamic pricing.
The crux of the issue lies in the use of dynamic pricing, a strategy where ticket prices fluctuate based on demand. While this approach is often beneficial in optimizing revenue, it can also lead to significant consumer frustration if not executed properly.
Lack of Communication: The promoter and ticketing company failed to adequately inform customers about the use of dynamic pricing. Fans were caught off guard when they encountered unexpectedly high prices—up to £350 for a ticket that started at £150. This lack of transparency eroded trust and led to widespread dissatisfaction.
Long Queue Times: The combination of massive demand and dynamic pricing created extraordinarily long waits in online ticket queues. Fans were frustrated by the extended periods spent waiting, only to be shocked by inflated prices once they reached the front of the line.
This shock quickly tuned into heightened stress caused by a checkout timer presenting people with just a handful of minutes to decide if they wanted to pay significantly higher prices for their tickets - and with it significantly higher fees charged by the ticketing company.
Failure to Manage Expectations: Without clear communication and proper management of expectations, the dynamic pricing model became a source of discontent rather than an effective tool for managing demand and increasing revenue.
These issues stemmed from a failure to follow essential procedures and protocols when implementing dynamic pricing:
Defining Objectives: Understanding the objective behind dynamic pricing is crucial. Is it to maximize revenue, manage demand, or both? In the case of the Oasis tour, it seems this objective was not clearly communicated or managed effectively.
Assessing Suitability: Dynamic pricing should be chosen only if it aligns with the goals of the event and the expectations of the audience. For high-demand events like the Oasis tour, it’s vital to work out if dynamic pricing is the right tool for the job.
Setting Base Prices and Parameters: Establishing a fair starting price and appropriate parameters for price fluctuations is essential. If the base price is set too high or the range of price changes is too extreme, it can lead to consumer shock and dissatisfaction.
Effective Communication: Transparency is key. Clear communication about how dynamic pricing works, including potential price changes and queue expectations, can prevent misunderstandings and build trust.
Terms and Conditions: Comprehensive and clear terms and conditions help set expectations and provide consumers with necessary information about pricing changes and ticket availability.
Ethical Considerations: Ensuring that pricing practices adhere to ethical standards and consumer protection rules is vital. This includes avoiding exploitative pricing strategies and ensuring that the process is fair for all customers.
_
When done correctly, dynamic pricing can be a powerful tool. Imagine it like a skilled chef adjusting the seasoning of a dish based on the taste of the diners. If the chef understands their ingredients and the preferences of their guests, they can create a balanced, enjoyable meal. Similarly, dynamic pricing, when implemented with precision and care, can meet both business objectives and consumer expectations effectively.
The Oasis ticketing debacle highlights the importance of following proper procedures when using dynamic pricing. By defining clear objectives, communicating transparently, setting appropriate prices, and adhering to ethical standards, dynamic pricing can be a valuable asset rather than a source of frustration.
You would think and hope that the promoter and the ticketing company for the Oasis tour would have these procedures and protocols in place. Oasis themselves are distancing themselves from who was to blame and the promoter and the ticketing company are pointing fingers at each other. Perhaps it was all a mistake. Perhaps they all knew what was going on. I'll let you decide.
No Oasis lyrics were used in the creation of this article.
“I’m too busy to implement a complex new pricing tool”
With modern software and data analytics tools, dynamic pricing is accessible to any team, however busy, thanks to automation. DynamO developed a very straightforward and easy-to-use interface and provides free support and assistance. Setting up the dynamic pricing parameters for a typical theatre performance (3-5 different ticket categories) takes 2-5 minutes for our clients. Even very small theatres and music groups with only 1 person managing ticketing are achieving great results using DynamO.
“We have lots of one-night shows and we don’t have autonomy on price-setting (we have to set prices in line with promoters / producers), so dynamic pricing can’t work for us”
Dynamic pricing can be applied to a wide range of events, including one-time performances, festivals, sports events, and more. Predicting the success of a one-time event can be very tricky as success depends on multiple variables: big names, promotion partners etc. However, dynamic pricing actually helps to mitigate the risk associated with one-off shows or short runs. Over time it becomes a highly effective tool to support performance lifecycle evaluation and decision-making.
When first implementing dynamic pricing you can talk to your partners about whether they want to do it or not, and if not you don’t have to dynamically price their shows. Once you have dynamically priced a few shows you can show them the data to evidence the potential ROI they are missing out on and they will likely choose to participate, as we’ve seen with numerous clients in this position.
“If the prices are always changing how can I forecast accurately?”
Forecasting is always an educated guess about the future. With dynamic pricing, forecasting is actually more reliable than with fixed / static pricing, because it reacts to market fluctuations and generates additional yield on popular shows while boosting audiences at less popular performances / events. Ticketing managers can predict based on their past experience as they usually would. The only change they need to make is that they should expect better results both in revenue and tickets sold than ever before. A typical DynamO client generates 14-17% average revenue growth while reducing unsold inventory by over 20%.
“We often have to paper / discount heavily at the last minute to fill a show, dynamic pricing will only exacerbate this late booking behavior - we want to encourage early bookers!”
Dynamic pricing can help encourage early booking and aid in avoiding last minute discounts to fill an event. In many cases prices increase as the event date approaches and availability decreases. There are many logics that can be applied in dynamic pricing and it’s never guaranteed that tickets will be cheapest at the beginning of the sales period, or at the end of it, or anytime in between! While it can provide a kind of gamification opportunity to ticket buyers, there is not a simple and consistent rule that they can follow. With dynamic pricing they can’t just wait and be guaranteed a cheap ticket.
“As a not-for-profit organization, I don’t think it’s a good fit - dynamic pricing is designed for profit-making companies.”
All kinds of cultural institutions can benefit from dynamic pricing. Optimizing ticket sales allows you to break down cost barriers across your programming and reach a wider audience, while ensuring financial sustainability. Dynamic pricing strengthens any mission-focused organization’s pricing strategy. It can result in wider availability of cheaper tickets and longer periods of availability for high-demand performances. Organizations such as the Hungarian State Opera, Operetta Theatre, and Palace of Arts have demonstrated how beneficial this approach can be. With the additional revenue generated, these institutions can further improve service quality and invest more in their artists, creating a positive social impact.
“Ticket buyers don’t want another layer confusing them - it’ll stop them from completing their purchase”
“Dynamic pricing is only for profit driven organizations. It won’t help us reach new audiences or build lasting relationships with our communities.”
Arts organizations need income in order to operate and bring their unique value to audiences and communities. Historically in the UK this has been generated through a combination of national or local government funding, philanthropic giving and earned income (i.e ticket sales). With a 16% real terms cut in arts funding since 2017, the shortfall needs to be picked up for the cultural sector to continue doing their vital work. Philanthropy in the UK is not as strong as in North America and although it has trended upwards since 2018 evidence shows that we can’t rely on this. The area where organizations have most control is their earned income.
Maximizing this is fundamental to survival.
Increasing ticket revenue supports all organizational goals whether that is better-paid artists and staff, higher production values or more community and outreach work. Without financial stability, organizations and the value they bring for their communities is at risk.
“Dynamic pricing isn’t good for audiences, they won’t respond well…”
Anna Hetényi, Head of Ticketing at Müpa (Palace of Arts), shared her experience with combining dynamic pricing and their established loyalty program:
"DynamO implemented their dynamic pricing solution with maximum flexibility, fully accommodating our specific needs at Müpa. They seamlessly integrated their system with our well-established loyalty program, allowing us to preserve its benefits for our loyal customers. For instance, during our pre-sale periods, we offer tickets at fixed prices, and once these periods end, we switch to dynamic pricing. This approach has enabled us to maintain customer satisfaction while optimizing our revenue through a tailored and adaptable pricing strategy."
“Dynamic pricing is just about increasing prices, it’s not fair on the audience”
In contrast to the belief that dynamic pricing simply increases ticket prices and locks out some audiences, it can be the key to understanding the true market value of your ticket inventory, and being able to price strategically. As part of a well-rounded pricing strategy, you can maximize ticket revenue and make tickets available to the widest possible audience at the same time.
Recently, the highly anticipated reunion tour of the iconic UK band Oasis has captured the attention of music fans worldwide. With the buzz surrounding their return, the demand for tickets has been through the roof. Unfortunately, the ticketing experience has left many fans more than disheartened, thanks to an avoidable problematic implementation of dynamic pricing.
The crux of the issue lies in the use of dynamic pricing, a strategy where ticket prices fluctuate based on demand. While this approach is often beneficial in optimizing revenue, it can also lead to significant consumer frustration if not executed properly.
Lack of Communication: The promoter and ticketing company failed to adequately inform customers about the use of dynamic pricing. Fans were caught off guard when they encountered unexpectedly high prices—up to £350 for a ticket that started at £150. This lack of transparency eroded trust and led to widespread dissatisfaction.
Long Queue Times: The combination of massive demand and dynamic pricing created extraordinarily long waits in online ticket queues. Fans were frustrated by the extended periods spent waiting, only to be shocked by inflated prices once they reached the front of the line.
This shock quickly tuned into heightened stress caused by a checkout timer presenting people with just a handful of minutes to decide if they wanted to pay significantly higher prices for their tickets - and with it significantly higher fees charged by the ticketing company.
Failure to Manage Expectations: Without clear communication and proper management of expectations, the dynamic pricing model became a source of discontent rather than an effective tool for managing demand and increasing revenue.
These issues stemmed from a failure to follow essential procedures and protocols when implementing dynamic pricing:
Defining Objectives: Understanding the objective behind dynamic pricing is crucial. Is it to maximize revenue, manage demand, or both? In the case of the Oasis tour, it seems this objective was not clearly communicated or managed effectively.
Assessing Suitability: Dynamic pricing should be chosen only if it aligns with the goals of the event and the expectations of the audience. For high-demand events like the Oasis tour, it’s vital to work out if dynamic pricing is the right tool for the job.
Setting Base Prices and Parameters: Establishing a fair starting price and appropriate parameters for price fluctuations is essential. If the base price is set too high or the range of price changes is too extreme, it can lead to consumer shock and dissatisfaction.
Effective Communication: Transparency is key. Clear communication about how dynamic pricing works, including potential price changes and queue expectations, can prevent misunderstandings and build trust.
Terms and Conditions: Comprehensive and clear terms and conditions help set expectations and provide consumers with necessary information about pricing changes and ticket availability.
Ethical Considerations: Ensuring that pricing practices adhere to ethical standards and consumer protection rules is vital. This includes avoiding exploitative pricing strategies and ensuring that the process is fair for all customers.
_
When done correctly, dynamic pricing can be a powerful tool. Imagine it like a skilled chef adjusting the seasoning of a dish based on the taste of the diners. If the chef understands their ingredients and the preferences of their guests, they can create a balanced, enjoyable meal. Similarly, dynamic pricing, when implemented with precision and care, can meet both business objectives and consumer expectations effectively.
The Oasis ticketing debacle highlights the importance of following proper procedures when using dynamic pricing. By defining clear objectives, communicating transparently, setting appropriate prices, and adhering to ethical standards, dynamic pricing can be a valuable asset rather than a source of frustration.
You would think and hope that the promoter and the ticketing company for the Oasis tour would have these procedures and protocols in place. Oasis themselves are distancing themselves from who was to blame and the promoter and the ticketing company are pointing fingers at each other. Perhaps it was all a mistake. Perhaps they all knew what was going on. I'll let you decide.
No Oasis lyrics were used in the creation of this article.
We are pleased to announce our new partnership with Soho Theatre, marking a milestone in our efforts to help the performing arts sector engage fill more seats and drive-up ticket revenue. This collaboration with one of London's key cultural venues is a significant development in our mission to revolutionize pricing strategies in the performing arts.
Located in the heart of London’s West End, Soho Theatre stands out as a premier venue showcasing a diverse range of theatre, comedy, and cabaret. Since its establishment in the early 1970s from a former synagogue, the theatre has grown into a cultural powerhouse with three performance spaces, attracting over 180,000 audience members each year. Originating from the ground-breaking Soho Poly Theatre, it remains at the forefront of promoting varied and provocative works. This year, they are set to expand their reach with the opening of a new 1000-seat venue in Walthamstow, broadening their capacity to host larger audiences and more ambitious projects.
We’ve integrated DynamO’s dynamic pricing engine with the Spektrix CRM and ticketing system, which will now allow all Spektrix clients to activate our dynamic pricing solutions effortlessly.
In this initial phase, we've launched our service across more than 100 performances at Soho Theatre. We’ve worked closely with the team at Soho Theatre to review their current processes and refine their pricing strategy. Having fully understood their needs and ambitions, our pricing expert, Dr. Pal Danyi, we’ve supported them to make adjustments tailored to meet their unique needs and optimize outcomes.
Mariko Primarolo, Head of Sales and Ticketing at Soho Theatre, commented on the partnership:
“It has been good working with DynamO Pricing and we have found the team responsive and supportive throughout the onboarding and development process. Dynamo have consistently gone the extra mile to problem solve quickly and efficiently. We are currently piloting the programme, having been interested in the dynamic approach to differing dynamic pricing strategies. The business model, with no upfront fee, was also a draw allowing us to pilot the programme to see if it works with Soho Theatre’s unique programming style.”
"Soho Theatre has been manually adjusting their ticket prices for years. Automating this process significantly enhances their operations, given their deep understanding of show attendance and revenue expectations. Their audience is already accustomed to variable pricing, so this transition will feel seamless and natural"
remarks Dr. Pal Danyi, CINO of DynamO Pricing.
Bence Marosi CEO of DynamO Pricing highlights the company's deep connection to the performing arts, embracing bothits for-profit and non-profit dimensions.
"Originating in Hungary, DynamO understands the importance of maintaining excellent audience experiences in the arts sector while smoothly transitioning venues and organizers to evolved pricing strategies"
he states.
We look forward to expanding our dynamic pricing services throughout Soho Theatre’s programming. We believe this partnership will positively impact audience engagement and revenue, as it has with our clients in other countries. This collaboration underscores DynamO's dedication to equipping arts organizations with the necessary resources to thrive in a challenging environment.
Want to learn more? Get in touch with us today to explore how we can specifically assist your business. You can reach us through our website's contact forms or simply send us an email at info@dynamopricing.com. We look forward to hearing from you!
In the rapidly evolving world of pricing strategies, Pal Danyi, PhD, stands at the forefront, blending advanced AI technology with over two decades of cross-sector experience. This article delves into Pal's innovative approach to dynamic pricing, showcasing his unique blend of academic insight and industry expertise, and highlights his recent forays into sharing knowledge on LinkedIn.
Pal Danyi, PhD, our Head of Research and pricing expert at DynamO, brings an extensive background in addressing dynamic pricing challenges through advanced AI technology.
With over 20 years of experience across IT, telecom, and financial sectors, Pal specializes in developing strategies for price optimization, demand forecasting, and revenue management. His expertise extends to crafting dynamic pricing models that adapt to market changes, optimizing pricing for events and entertainment venues to maximize revenue and attendance. Additionally, Pal’s work encompasses competitive pricing analysis and the implementation of price sensitivity models, leveraging his deep understanding of data analytics to inform pricing decisions. His academic role as an associate professor further enriches his approach, merging practical industry insights with the latest in innovation and IT strategies. His theoretical knowledge and practical expertise are chiefly channeled into enhancing DynamO's in-house developed dynamic pricing solutions.
Pal has started sharing insights twice weekly on LinkedIn, diving into intriguing pricing-related topics. Here's a taste of the diverse subjects he covers:
• Urban Pricing Strategies: Exploring Paris's decision to triple parking fees for SUV drivers, highlighting environmental concerns and the implications of size-based pricing discrimination.
• Innovative Tolling Systems: Reflecting on California's FasTrak, an electronic toll collection system that dynamically prices lane usage to reduce congestion and improve air quality.
• Efficiency in Art Exhibitions: Discussing how dynamic pricing could transform the visitor experience at popular events like the Renoir exhibition in Budapest, reducing wait times and optimizing revenue.
Follow Pal Danyi on LinkedIn to delve into the world of dynamic pricing and its impact across various sectors, from urban planning to cultural events. Engage with his posts for more fascinating insights and discussions.
Want to learn more? Get in touch with us today to explore how we can specifically assist your business. You can reach us through our website's contact forms or simply send us an email at info@dynamopricing.com. We look forward to hearing from you!
In the vibrant cultural tapestry of Budapest, the Katona József Theatre stands out as a beacon of artistic innovation and excellence. Known for its compelling productions and superb cast, the theatre has consistently pushed the boundaries of performance art. In its latest stride towards enhancing audience engagement and operational efficiency, Katona has partnered with DynamO Pricing, leveraging our cutting-edge dynamic pricing solution, integrated seamlessly with Jegymester, Hungary's second-largest ticketing platform.
February marks the beginning of a new chapter for Katona József Theatre, as it starts to utilize the capabilities of DynamO Pricing's solution across 10+ events. This collaboration, forged through technical integration with Jegymester, heralds a significant leap towards optimizing ticket sales and enriching the theatre-going experience.
DynamO Pricing's dynamic pricing software is designed with ease of use at its core. Post-integration with Jegymester, launching dynamic pricing for an event is a matter of minutes, not hours. Our platform's versatility allows it to cater to the diverse business goals of our clients, making it an ideal choice for venues like Katona that value flexibility and efficiency. With the added benefits of quick, and even real-time, price adjustments, and AI-assisted pricing strategies, our solution is poised to revolutionize how tickets are sold and priced in the event industry.
While it's still early days, the anticipation is high for the impact of dynamic pricing on Katona József Theatre's revenue and attendance rates. Dynamic pricing is not just about adjusting ticket prices; it's about understanding and responding to audience demand, ensuring accessibility while maximizing profitability. We are in close discussion with Katona to address their specific challenges and goals, tailoring our solution to meet their unique needs.
The integration of DynamO Pricing's solution with Jegymester for Katona József Theatre is a testament to the power of collaboration and innovation in the arts sector. As we move forward, we are confident that this partnership will not only elevate the theatre's operational capabilities but also enhance the overall experience for its audience. Stay tuned for updates on this exciting journey.
Want to learn more? Get in touch with us today to explore how we can specifically assist your business. You can reach us through our website's contact forms or simply send us an email at info@dynamopricing.com. We look forward to hearing from you!
In an exciting development for live event organizers and arts venue leaders, DynamO have integrated with Spektrix to provide their users with a fully automated data-driven pricing tool. Spektrix provides complete ticketing, marketing and fundraising software to over 600 theaters, festivals and arts centers. As the market leader in the UK and Ireland, and the fastest-growing platform in the US and Canada, Spektrix clients processed over $1.26 billion of sales in 2022. This partnership aims to empower Spektrix users with enhanced revenue generation, increased ticket sales, and improved crisis resilience. By leveraging DynamO's innovative pricing technology, box office teams can revolutionize their ticketing strategies and offer fair, ethical pricing that adapts to changing market demands.
One of the key advantages of adopting DynamO Pricing’s integrated, cutting-edge technology is the ability for Spektrix users to generate higher ticketing revenue. Smart and simple pricing tools allow arts organizations to set ticket prices in response to fluctuating demand and market conditions. Ticket prices can be adjusted in real time to reflect market conditions, allowing businesses to maximize profits without jeopardizing customer satisfaction.
Moreover, the integration allows venues to sell out more tickets and fill bigger venues. The flexible pricing tools enable organizers to adjust prices dynamically, ensuring that every seat is occupied. With DynamO Pricing, ticketing and box office teams can unleash the full potential of their venues, transforming their events into unforgettable experiences for a larger audience.
Having a pricing structure that can be adjusted on the fly is essential for event planners in today's volatile environment. With the help of DynamO Pricing, cultural leaders can quickly adjust their ticket prices to reflect the shifting dynamics of the market and maintain resilience in the face of crises and ambiguity. The data-driven pricing strategy allows event organizers to keep their competitive edge and adapt quickly to market changes, regardless of whether demand is rising or falling.
Manual price adjustments are a thing of the past. With DynamO Pricing integrated, the time and effort spent on re-pricing events are drastically reduced. The automation provided by DynamO's technology streamlines the process, enabling event organizers to focus on more strategic initiatives, such as marketing and audience engagement. This time-saving feature empowers organizers to allocate their resources efficiently, resulting in improved productivity and increased overall revenue.
Spektrix users can easily find out more about DynamO Pricing through the Spektrix Partner Directory. By creating an account on DynamO's user-friendly dashboard, users can seamlessly link their DynamO and Spektrix accounts, granting them instant access to the powerful pricing tools. With just a few simple steps, organizers can launch dynamically priced events, harnessing the full potential of flexible pricing in a matter of minutes.
Furthermore, DynamO Pricing prides itself on its commitment to exceptional customer support. Their team of professionals is always ready to assist and guide users through any challenges they may encounter. The dedication to customer satisfaction and reliable assistance sets DynamO apart, establishing them as a trusted partner in the pursuit of maximizing ticketing revenue.
The integration of DynamO Pricing's data-driven flexible pricing tool with Spektrix represents a major leap forward in the ticketing industry. Spektrix users can now unlock a range of benefits, including increased revenue, higher ticket sales, and enhanced crisis resilience. By leveraging the power of DynamO Pricing's innovative technology, box office and ticketing teams can transform their ticketing strategies, optimize pricing, and offer fair and ethical ticket prices. With this partnership, Spektrix and DynamO Pricing are shaping the future of ticketing, providing an invaluable resource for event organizers looking to achieve greater success in an ever-evolving industry.
Want to learn more? Get in touch with us today to explore how we can specifically assist your business. You can reach us through our website's contact forms or simply send us an email at info@dynamopricing.com. We look forward to hearing from you!
Revolutionizing Event Ticketing: Broadway Ticket Office Embraces Dynamic Pricing for EnhancedEvent Experiences.
Broadway Ticket Office, a leading organizer of diverse cultural events ranging from large-scale concerts featuring renowned artists like Andrea Bocelli, José Carreras, and Queen to intimate gatherings for smaller crowds, is taking ticketing to new heights with the introduction of dynamic pricing. The company is set to revolutionize the event landscape by guaranteeing maximum attendance and profitability for organizers by utilizing its own state-of-the-art ticket distribution system and extensive expertise in online and offline communication. During the upcoming tour of the world-famous magic troupe, the Masters of Illusion, Broadway Ticket Office will test out dynamic pricing, making tickets more or less expensive depending on demand.
Dynamic pricing, a strategic approach to ticket pricing that adjusts prices based on various factors, offers a host of benefits to both event organizers and attendees. By harnessing real-time data and market insights, Broadway Ticket Office aims to optimize ticket prices, taking into account factors such as demand, timing, and seat availability. This innovative pricings trategy allows for greater flexibility and adaptability, ensuring that ticket prices accurately reflect market dynamics, resulting in improved revenue generation and enhanced audience experiences.
The Masters of Illusion tour marks the beginning of a brand-new era in event ticketing, marked by the introduction of dynamic pricing. This renowned magic troupe, known for their mesmerizing performances, will provide the perfect opportunity to evaluate the effectiveness of dynamic pricing in capturing the true value of each ticket. As audience demand fluctuates and event dynamics evolve, dynamic pricing will dynamically adjust ticket prices, allowing organizers to strike the ideal balance between maximizing revenue and ensuring accessibility for fans.
The adoption of dynamic pricing by Broadway Ticket Office is indicative of the company's dedication to creativity and the provision of first-rate service to event planners and attendees alike. They wish to revolutionize ticket pricing by using cutting-edge technology and data-driven insights, benefiting all parties involved. Ticket prices that fairly and competitively reflect the unique value of each event can benefit both event organizers and attendees.
As Broadway Ticket Office introduces dynamic pricing into the event landscape, this groundbreaking initiative paves the way for a more dynamic and inclusive ticketing ecosystem. With the Masters of Illusion tour serving as a catalyst for this transformative change, event-goers can look forward to an enhanced ticketing experience, and organizers can benefit from a streamlined approach that aligns pricing with market demand. As Broadway Ticket Office continues to push boundaries and explore innovative solutions, the future of event ticketing promises to be exciting and more rewarding than ever before.
DynamO Pricing, Tixa Hungary, and TicketSwap Delve into Flexible Solutions and Dynamic Pricing.
Panel discussions are invaluable platforms for industry experts to exchange knowledge, insights, and experiences. Recently, at the Music Hungary Conference, DynamO Pricing had the privilege of participating in a panel discussion alongside Tixa Hungary and TicketSwap. The engaging discussion revolved around the latest trends, changes, and flexible responses in the ticketing industry. One focal point of the conversation was the untapped potential of dynamic pricing, examining both success stories and challenges encountered in implementing this innovative approach.
During the panel, representatives from DynamO Pricing, Tixa Hungary, andTicketSwap engaged in a thought-provoking conversation on various aspects of ticketing. With a keen focus on flexible solutions and crisis resilience, the discussion shed light on the importance of adapting to market demands and unforeseen circumstances. Attendees eagerly absorbed insights shared by both international and domestic experts, gaining a comprehensive understanding of the opportunities and pitfalls associated with dynamic pricing.
A major topic that surfaced during the discussion was the incorporation of dynamic pricing strategies. Panelists explored how this approach can empowerevent organizers and venue owners to achieve their ticketing goals. By leveraging data-driven tools, such as those provided by DynamO Pricing, ticketing professionals can optimize their revenue generation strategies while simultaneously increasing visitor numbers.
The panel discussion further highlighted the significance of effective communication and collaboration within the industry. Sharing success storiesand lessons learned from around the world, panelists emphasized the importance of fostering an environment where innovation and best practices can be shared among professionals. By drawing on experiences from abroad and domestic markets, event organizers can better navigate the complexities of dynamic pricing implementation, paving the way for more successful outcomes.
Those curious about the potential advantages of dynamic pricing and how DynamO Pricing can help them reach their ticketing goals are encouraged tocheck out their website at dynamopricing.com. You can also email info@dynamopricing.com with your questions and the helpful staff at DynamO Pricing will respond promptly with detailed answers and individualized support.
The Music Hungary Conference panel discussion served as a testament to the industry's commitment to innovation and continuous improvement. By harnessing flexible solutions and exploring the immense possibilities of dynamic pricing, event organizers and ticketing professionals can shape a prosperous future for the industry. Embracing collaboration, learning from both triumphs and challenges, and leveraging cutting-edge tools like those offered by DynamO Pricing, the ticketing landscape can evolve and thrive, ultimately enhancing the experiences of audiences worldwide.
DynamO Pricing, a leading provider of dynamic pricing solutions, continues to drive innovation in the ticketing market. DynamO Pricing's Chief Technology Officer, Peter Molnar, recently gave a thought-provoking presentation on the transformative potential of dynamic pricing at the Budapest BI Forum on November 16th.
The Budapest BI Forum is Hungary's most prestigious business intelligence and analytics conference, and it is unique in that it is vendor-agnostic. Professionals interested in learning about the latest developments in the fields of Tableau, Power BI, data visualization, and general business intelligence and data-driven enterprises flock to the conference's specialized tracks.
Peter Molnar's presentation shed light on the role of dynamic pricing in revolutionizing the ticketing industry. Attendees gained valuable insights into the strategic implementation of data-driven pricing tools and how they can significantly impact revenue generation and audience engagement.
As the ticketing market evolves, embracing the power of dynamic pricing has become a game-changer for event organizers and venue owners. By leveraging sophisticated technology and analytics, DynamO Pricing empowers its clients to optimize their pricing strategies, adapt to market demands, and maximize revenue potential.
For those interested in exploring the technology and services offered by DynamO Pricing, reaching out is just a click away. Contact the team at info@dynamopricing.com to learn more about how dynamic pricing can transform your ticketing operations.
The Budapest BI Forum created an energetic forum for exchanging business intelligence, promoting teamwork, and spurring innovation. Event planners and ticketing experts can discover up fresh opportunities and take their plans to new heights with DynamO Pricing, the industry leader in dynamic pricing solutions.
In a rapidly changing ticketing market, staying ahead of the curve is essential. DynamO Pricing continues to pave the way with their cutting-edge technology and unrivaled expertise, empowering clients to thrive in an increasingly competitive landscape.
Contact DynamO Pricing today and embark on a journey of dynamic pricing transformation that will revolutionize your ticketing operations and drive unprecedented success.
Bence Marosi, the esteemed CEO of DynamO Pricing, was granted the distinguished opportunity to take the stage and deliver a captivating presentation at the inaugural Sport Forum Hungary.
This momentous event brought together a diverse array of attendees, including university professors, high-ranking company executives, esteemed sports federation leaders, accomplished Olympians, and influential policy makers. With an eager audience of over 500 individuals, the forum provided a remarkable platform for exchanging thoughts and insights on various aspects ofthe sports industry.
Marosi's presentation revolved around an intriguing and forward-thinking topic: the future of pricing in the sports industry. As an industry leader and expert in dynamic pricing solutions, he shared his visionary perspective on how cutting-edge technologies and innovative approaches can shape and redefine the pricing strategies employed in this dynamic sector. Mr. Marosi eloquently demonstrated the potential transformative impact of dynamic pricing on sports organizations, fans, and stakeholders alike, drawing on his considerable expertise and the results attained through the adoption of DynamO's dynamic pricing system.
He explored strategies for enhancing crisis resilience through ticket pricing, the essential data needed to optimize software-led pricing, and the delicate balance of maximizing revenue, attendance, and customer satisfaction simultaneously. His insights shed light on the inherent complexities of pricing strategies, the delicate balance between revenue optimization and fan accessibility, and the importance of leveraging data-driven solutions to create personalized and engaging experiences for sports enthusiasts.
The CEO's presentation sparked vibrant discussions and debates and encouraged attendees to envision a future where pricing strategies seamlessly adapt to shifting market dynamics, demand patterns, and consumer preferences. By embracing the principles of dynamic pricing, the sports industry has the potential to unlock new revenue streams, enhance fan engagement, and ensure sustainable growth in an ever-evolving landscape.
Ultimately, Bence Marosi inspired the audience with his perceptive presentation, inspiring them to investigate the untapped potential of dynamic pricing in the sports business. With increased knowledge and encouragement to promote positive change within their organizations and the larger sports community, attendees departed the event with a rekindled sense of enthusiasm.
Empowering Cultural Institutions with Real-Time Pricing Strategies.
At the beginning of August, Hungary’s leading stand-up comedy theatre, Dumaszínház, launched a dynamic ticket pricing pilot. Interticket’s ticketing system was combined with DynamO Pricing’s pricing engine to create a simple-to-use, yet highly configurable pricing and sales framework that enables near real-time pricing.
After the feature had been tested, the tickets for more than 60 events that were either just being announced or going on sale had their prices set using DynamO's pricing engine. On August 20, there were major events, as well as smaller-scale ongoing performances at both rural and urban settings.
“Dynamic pricing is expected to provide a data-driven pricing strategy as a secure starting point in a subjective genre. It is the only way to respond to the ongoing challenges that the performing arts have faced over the last two years” says Gergely Litkai, founder of Dumaszínház.
The pilot period at Dumaszínház lasted only until the beginning of September, during which time more than 5,000 dynamically priced tickets were sold. The results were so convincing that the theatre management decided to use this automated solution to advertise all their new events, including the entire autumn/winter season, on a demand basis.
Nevertheless in addition to the comedy genre, DynamO's service is also available to other cultural operators. Dynamic pricing was recently implemented by Müpa Budapest, one of the most well-known cultural brands and most cutting-edge cultural organizations in Hungary.
“The last few challenging years have also fundamentally reshaped consumer habits in the cultural sector, and the global changes ahead are likely to have a major impact on the arts and the functioning of cultural institutions, in which sustainability will play an increasingly important role. So technology is also helping to ensure that the pricing of art content responds in real time to the needs and opportunities of customers” said Gábor Kosztolánczy, Deputy CEO of Müpa Budapest.
First of all, eight performances of Recirquel’s highly successful Solus Amor were advertised with demand-based pricing, as reported by several professional portals, including Papageno and ArtNews. In the future,it is expected that more performances will be priced using the new adaptive solution, and that more and more actors, not only cultural ones, will start using pricing software.
Unleashing Growth Potential: How DynamO Pricing Transformed DumaTV's Pricing Strategy.
The most popular stand-up comedy streaming channel in Hungary, DumaTV, recently worked with DynamO Pricing on a successful pricing consulting project. Based on data analysis of customer needs, DynamO assisted DumaTV in restructuring its product portfolio. A four-step product ladder and several client segments with associated goods were defined. Additionally, DynamO established a pricing structure and identified particular price points for the various goods. Early in 2022, DumaTV unveiled the suggested additional items and prices. The project exceeded projections; in June 2022, the annual growth rate in revenue was 570%. The story is detailed here.
Unleashing the Potential of Intelligent Pricing
Are you ready to take your business to new heights and unlock its fullpotential? Do you desire the ability to predict ticket sales with unparalleled accuracy? Are you eager to swiftly adapt to changing customer behavior and gain a competitive edge in the market? If you answered yes to any of these questions, then let's delve into the world of pricing!
Intelligent pricing methods have the power to transform your business and help you achieve all of the aforementioned goals. The expert team at DynamO is therefore delighted to announce its participation in TPC2022. We will be atthe forefront of the Ticketing Professionals Conference in Birmingham this March as the pricing technology leaders in our sector.
During this dynamic event, we invite you to connect with us and explore the vast potential of intelligent pricing solutions. Our experts will beavailable to share invaluable insights, demonstrate cutting-edge pricing strategies, and discuss how our innovative software can revolutionize your ticketing operations.
By leveraging the power of DynamO Pricing, you gain a competitive advantage. Our intelligent algorithms analyze a myriad of factors, including demand patterns, market trends, and customer behavior, allowing you to makedata-driven pricing decisions. Seamlessly integrating with your existing ticketing infrastructure, our software empowers you to maximize revenue, optimize attendance, and enhance customer satisfaction.
TPC2022 offers a priceless forum for industry collaboration, networking, and knowledge exchange. It is the ideal chance to collaborate with like-minded experts and remain on top of changes in the ticketing industry.
Don't miss out on this chance to revolutionize your business withintelligent pricing solutions. Join us at TPC2022, and let's embark on a journey towards pricing excellence. See you there!
