Ruled-based pricing is a powerful strategy that enables event organizers to optimize revenue generation by dynamically adjusting ticket prices. By implementing rule-based pricing, organizers can modify ticket prices based on various factors such as the number of tickets sold, purchase dates, or specific days within the event period.
To set Rule-based price:
Go to Manage Tickets -> Dynamic Price -> Rule Based Price
There are different types of rule-based pricing that organizers can leverage:
- Based on Ticket Quantity Sold: This rule allows organizers to adjust ticket prices based on the quantity/percentage of tickets sold. For example, if you want to increase /decrease /set the price of the "VIP Admission $25" ticket once 50% of the tickets or 100 tickets have been sold.
- Based on Purchased Date: With this rule, ticket prices can be changed if the tickets bought on, before, after, or between specific dates. For example, If the General Admission ticket is purchased on or before 06/11/2024, increase the price by 2%.
- Based on Purchased Day: This rule allows organizers to adjust ticket prices based on the ticket purchased day. For example, If the General Admission ticket is purchased on Wednesday, decrease the price by 2%.
- Number of Days within Event Schedule Date: This rule allows you to modify the ticket prices if the ticket purchased within a certain day(s) before the event schedule date. based on specific days or weekends within the event period. For instance, If the General Admission ticket is purchased within 8 days of the event schedule date, Set price to $25.
By utilizing these rule-based pricing strategies, event organizers can dynamically adjust ticket prices to maximize revenue based on various factors that influence demand and customer behavior.