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The Boostly Podcast

How Price Labs has dramatically increased profits for this host

The Boostly Podcast

Mark Simpson

Marketing, Business

5.0302 Ratings

🗓️ 27 October 2021

⏱️ 4 minutes

🧾️ Download transcript

Summary

Welcome to Boostly Podcast Episode 389. This is a recap of my Facebook live where I talked about how Price Labs has dramatically increased profits for this host. 00:00 Start 00:40 Why Price Labs 01:50 Length of stay • https://Boostly.co.uk • https://Boostly.co.uk/5steps • https://instagram.com/boostlyuk • https://Boostly.co.uk/guidebook • https://Boostly.co.uk/website • https://Boostly.co.uk/podcast

Transcript

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0:00.0

I welcome to the Boosley podcast, very special episode coming up today.

0:05.0

I interviewed Liam Carolyn of Ginger and Gold over in Norwich for a behind the host special.

0:12.0

This is where I'm going to be interviewing hosts just like you all over the world to discover the tools

0:17.0

and the tactics and the advice that they have in the business and that they can pass on to you.

0:22.0

Today was a really good one. I'm really glad you started with Liam.

0:24.0

A real nice guy. Please do reach out to him and say thank you for this.

0:27.0

So without further ado, please do go and say hi to Liam.

0:32.0

But most importantly, let's get on with the show.

0:35.0

You very briefly mentioned your dynamic pricing software tool, which I feel like is really important.

0:41.0

So number one, why did you decide to take the plunge with dynamic software pricing and what made you choose price labs?

0:51.0

The simple answer is it's a must. It's got to be something that you're putting into business.

0:56.0

And the reason being is if not you leave a money on the table.

0:59.0

I ran Ginger Gold for two years, probably without any dynamic pricing software.

1:06.0

And that was by checking local prices, making sure that we were high on key dates, lower on winter dates.

1:14.0

And I always thought that we had it kind of right.

1:17.0

As soon as we plugged in switches to hostfully plugged in the dynamics price and software through price labs,

1:24.0

the rates just went up to prices, which we wouldn't necessarily always put on there.

1:30.0

But it realized when the highest demand weekends are.

1:34.0

So it would adjust the price depending on demand.

1:38.0

You can cap it if you're uncomfortable with the prices as well.

1:41.0

So you've got so much more control.

1:43.0

Even if you're not worried about increasing your prices, which I imagine most people will want to if the option's there,

...

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