We're lucky to have sophisticated users who are constantly pushing us to improve the revenue management capabilities PriceLabs brings. Every so often, you share your hacks/tricks about how you use PriceLabs that can be simple and effective. It was about time we started consolidating them in one place to share with everyone!
- Zoom out on the browser if you're using PriceLabs on a smaller laptop screen (or even otherwise!). This lets you see more of the dashboard when you're working on your listings. You can find out how to do this on different browsers online (as an example, on Chrome it's Ctrl--).
- Suggestion for newly listed properties: We designed date-overrides and adjustments with seasons and events in mind, but one of our users (Michael McKay of STAYD) articulated how they use it for newly listed properties that don't have many reservations/reviews yet: apply a deep discount for the coming week, a lower discount for the week after, and so on. Why this helps:
- The deep discount for the coming week helps get initial bookings and reviews. Many of these are 1-2 day stays, which help you build reviews quickly and allow you to command higher prices for future stays.
- By applying a date level override instead of reducing the base price, you aren't risking getting a cheap booking for a far out date (since it's far out, you should be able to get the market rate since the listing won't be new at that point). The far out bookings will also not help in the short term since a review can only be left after the stay is complete
If you would like to add your hack/find/tip to this list, send it to firstname.lastname@example.org! We'd be happy to review and share it here!