Beyond Pricing price optimisation FAQ
Beyond Pricing uses a sophisticated software system to set prices for individual properties, in response to localised market data, which has been proven to increase revenue by 10-40%, thereby more than paying for itself in both greater profitability and time saving.
Beyond Pricing works with 400+ professional property managers worldwide, and has a proven track record of success in both urban and rural markets.
Beyond Pricing can be used to:
- Increase revenue- prices are based on a real-time response to local market data.
- Save time- Beyond pricing sets your prices for you, so you don't need to bother with setting and changing your prices year on year, or setting up and dealing with discounts. You will spend less time setting your rates, yet have more confidence in them.
- Understand the market- You can see a full year of pricing recommendations for your listings, allowing you to better understand the market and stay ahead of the competition.
- Rank higher with OTAs (eg. Airbnb, Booking.com) - your rates are updated daily, so OTAs will rank your listings higher because you will be seen by them as a more active user.
What other property owners think about Beyond Pricing - https://beyondpricing.com/about/testimonials
Beyond Pricing charges 1% on all booking revenue, excluding options and booking fees. This is billed directly by Beyond Pricing, on a monthly basis, based on booking date. This bill is charged to a card held on file in your Beyond Pricing account. You are only charged when the integration is active.
You still remain in ultimate control over your pricing, in both SuperControl and your Beyond Pricing accounts.
The Minimum Price set in the SuperControl still applies, so bookings cannot go below this figure.
In your Beyond Pricing account, you can set parameters within which your prices must fall (ie. a minimum and maximum price range). This is an important part of the process, since not only does it prevent a price from going below what you are happy to accept per night, but also, since Beyond Pricing does not take account of special features of a property (ie. a hot tub), the setting of a minimum price requires you to consider and take account of your property's particular value factors.
You can also override prices for particular nights if you need to within your Beyond Pricing account (ie. to take account of a special event happening at your property only, which would not otherwise be reflected in the market data).
Clients who uplift the prices sent to OTAs will either need to take that uplift into account when setting their maximum price ceiling in Beyond Pricing, or else remove the uplift and account for the OTA fees in the increased revenue generated by using dynamic pricing.
Beyond Pricing pushes prices for a maximum of 12 months into the future to SuperControl, in order to best predict market conditions. An enquiry through SuperControl's calendars for a date more than 12 months ahead would receive a message to contact you directly for a price.
Beyond Pricing will set your nightly price, however, you can still set special prices in SuperControl should you wish to do so in order to market specific holiday dates.
Your Short Break settings controlling minimum length of stay and arrival/departure days are still managed using the short break bands in the SuperControl Price Planner. Since Beyond Pricing is a nightly pricing model, your Short Break settings should accurately reflect your minimum and maximum length of stay.
Yes. Beyond Pricing is a nightly pricing model, and so will provide a price for each and every night of the year, but you can still control your minimum length of stay using the short break bands in the Price Planner.
You can still use discounts with Beyond Pricing, including those, for example, which relate to length of stay. This allows you, if you wish, to offer a discount on a 7 night stay.
It is advisable however to think carefully about the discounts that you are using, and whether they are really needed. The reason for this is to allow Beyond Pricing to do its work of gaining you the best price for those dates. If seasonal or market conditions mean that you need to offer a discounted price, then Beyond Pricing will have already taken account of this in its setting of the price.
It might be better to think of the real-time fluctuations in price that Beyond Pricing instigates as fluid discounts in themselves, responding in real time to market conditions, and, crucially, only offered where really needed, in order to avoid the possible lost revenue potential which can result through the blanket application of a traditional fixed discount.
Yes, if you do wish to offer a specific discount to a returning loyal guest, or for some other reason, you can generate a voucher in SuperControl to the discount value or percentage that you would like to offer, which the guest can then redeem during the booking process. This will allow you to balance profitability with loyalty, and ensure that you remain in ultimate control.
Yes. Beyond Pricing sends prices to your SuperControl Price planner, and these are then sent to OTA channels with any uplifts you have set up added to them.
Beyond Pricing syncs automatically with SuperControl every night, ensuring that prices are updated daily to best reflect current market conditions.
Beyond Pricing doesn’t have facility for occupancy based pricing. The reason for this is that it may lead to discounting prices unnecessarily, rather than fulfilling the aim of Beyond Pricing to get the best possible price for each and every booking.
Beyond Pricing is risk-free. If you decide in the future to revert to your previous pricing you can simply turn off Beyond Pricing in Supercontrol and the prices that were in place before Beyond Pricing was turned on will be restored.
Beyond Pricing can be switched on and off, on the Beyond Pricing page in SuperControl. We do not recommend doing this however, since switching it on and off regularly can upset the accuracy of the metrics that Beyond Pricing uses to determine how your property should be priced.
Beyond Pricing can certainly be used in a new SuperControl account, indeed, if you have existing listings on Airbnb or Homeaway/VRBO, which are not yet connected to SuperControl, Beyond Pricing can be connected to these and pull in the pricing and booking data that is stored there. This would save you ever having to put your own manual prices in the SuperControl Price Planner. Beyond Pricing will do the work for you!
If you are moving to SuperControl from another PMS system, Beyond Pricing can help you put your existing pricing data into the right format to export from that system to Beyond Pricing.
Absolutely- Big agencies invest heavily in price optimising in order to retain their market share. Beyond Pricing provides the same revenue management tools at a fraction of the price. This will help smaller agencies compete better against the bigger agencies; and bigger agencies to save money and time, rather than having to undertake their own market analysis.
In addition, for businesses with 15 or more properties, Beyond Pricing provide an account manager to help you to optimise your yield managed pricing so you can beat your competitors and outperform the local market and the Biggest agencies.
Beyond Pricing makes use of a sophisticated set of data, including previous bookings of your properties, data from major and regional channels, databases of local occupancy and a number of other data sets.