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:
- Percentage of Quantity Sold: This rule allows organizers to adjust ticket prices based on the percentage of tickets sold. For example, if you want to increase the price of the "VIP Admission $25" ticket once 50% of the tickets have been sold.
- Number of Quantity Sold: With this rule, ticket prices can be changed once a certain number of tickets have been sold. For instance, if you want to set the ticket price of "General Admission" to $30 once 10 tickets have been sold.
- Purchased Date: Create irresistible offers by showcasing the original ticket price with a "strike-through," highlighting the new price in a larger, bolder font, and adding a dynamic offer deadline with a red background, indicating "Offer ends on <<date>>." For example, you can set the price of "VIP Admission" to $55 for tickets purchased on or before January 3rd.
- Number of Days within Event Date: This rule allows you to set ticket prices based on specific days or weekends within the event period. For instance, if you want to set the price of "VIP Admission" to $55 on or before October 30th and 31st.
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.