As a vacation rental property manager, you are always looking for ways to increase revenue and stay ahead of the competition. Dynamic pricing is a crucial tool in achieving these goals, but taking it a step further is critical to keep up with demand.
Beyond’s enhanced dynamic pricing solution incorporates consumer search data into our pricing algorithm to increase or decrease rates based on demand. This approach has helped our clients avoid sacrificial units, make data-driven decisions, and increase their bookings and revenue.
Since launching our Search-Powered Pricing, we checked in on how our customers utilizing this feature are performing. In just 6 months, the overall impact for our customers:
- Bookings Impacted: 100k+
- Total Added Revenue to Clients: $5M
We are so excited to see these amazing results generated for our customers! Here’s how Search-Powered Pricing from Beyond made such an impact.
How Search Data Works in Vacation Rental Pricing
Our innovative pricing solution incorporates consumer search data that automatically adjusts rates based on the high or low demand data for a specific night or weekend. This helps capture the most bookings possible, ultimately maximizing revenue.
Think of it as the ultimate forward-thinking pricing tool for property managers in the vacation rental industry. Search-Powered Pricing uses consumer search data to identify the specific drivers of high and low pricing based on fluctuating levels of consumer demand for different dates and types of listings.
Gone are the days of purely reactive pricing. With Beyond's Search-Powered-Pricing, your dynamic pricing will now utilize both search and occupancy data in your pricing algorithm, ensuring you’re setting the correct price to optimize your booking potential.
By analyzing both longer-term trends and daily search patterns, our algorithm immediately identifies changes. So if a new concert gets announced and people start heading to your website, our new algo increases the pricing right away.
How Our Customers Utilize Search-Powered Pricing
To achieve higher revenue and maximum bookings, our customers that use Search-Powered Pricing:
- Never have a sacrificial booking again. By incorporating search data, our dynamic pricing algorithm now detects periods of increased consumer demand via search patterns and increases prices before the bookings flood in.
- Avoid unfulfilled booking potential by proactively ensuring you’re not overpriced on periods of low demand. PricingPro is finely tuned to pick up both on last-minute demand, as well as a lack or decrease in consumer searches and will adjust rates accordingly.
- Transform the way you price your listings with our automatic and hassle-free solution and enjoy the fun parts of managing a vacation rental business.
Bonus: Search Data Provides Key Insights that Help Drive Decisions
The visualization of search data is another benefit of using Search-Powered Pricing. Property managers can make data-driven decisions and recommendations to owners that will directly impact their bottom line, such as ad spend optimization, property investments that will give them the most bang for their buck, pricing & customization adjustments, and website improvements.
This data unlocks key information for property managers such as how many visitors convert to paid guests, where guests are searching from, what they are searching for, & when they are searching.
Beyond’s enhanced dynamic pricing solution has added $5M in revenue for our clients in just six months. By incorporating search data into our pricing algorithm, we help property managers avoid sacrificial units and capture spikes in consumer demand in real-time. Our solution also enables property managers to make data-driven decisions and recommendations to owners that will directly impact their bottom line. We are confident that our solution can help you stay competitive in the fast-paced vacation rental industry and achieve your revenue goals.
Want to know more? Let’s chat!