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August 23, 2024
Haley Dalian
Interested in trying dynamic pricing but not sure where to start? Read the key takeaways from our dynamic pricing webinar to review everything from the basics to how to fine-tune your approach over time.
Dynamic pricing is a powerful tool for campground owners and operators looking to maximize their earning potential. But how exactly does it work? What’s the best way to get started? To help answer some common questions around dynamic pricing, Campspot team members Taylor Champion and Alex Boley led a recent webinar titled, How to Calibrate Your Revenue Management Strategy With Dynamic Pricing.
They reviewed how campground owners and operators can leverage dynamic pricing to maximize their revenue and optimize occupancy. They also discussed how to set prices competitively and how to use Campspot Analytics to help you determine ideal rates.
To watch the webinar directly, check out the video here. Below, we’ll recap some of the main points discussed to give you a sneak peek.
For years, dynamic pricing has been a well-known term and timely tool across many industries, and the outdoor hospitality space is no exception. Importantly, it’s a strategy that pays. 67% of Campspot award-winning campground survey respondents reported using dynamic pricing, while only 22% of other Campspot users have this feature enabled. High-performing parks rely on dynamic pricing as part of a well-rounded revenue management strategy.
To see a prime case study of two identical parks, where dynamic pricing made the bottom line difference, watch the webinar recording here.
Campspot’s dynamic pricing rules are configured to automatically adjust your daily rates based on factors such as occupancy, time of year, and how far in advance a reservation is made. Of course, this feature can be turned off on demand or recalibrated in a few easy clicks.
Dustin Trotter, owner of Campspot-award-winning Okefenokee Pastimes Cabins and Campground, said, “With dynamic pricing, we’re averaging just over $17 per reservation in additional revenue because of our occupancy.” Depending on the many factors that make your park unique and the growing popularity of camping, you could capture even greater additional revenue per reservation.
Because dynamic pricing means a price change in either direction (not just a price increase), you also have the option to fill last-minute vacancies during slower booking windows by automatically dropping rates to entice purchases. Afterall, some revenue is better than no revenue.
To learn what additional factors to consider and to see sample strategies for setting up dynamic pricing, check out the full dynamic pricing recording.
The easiest way to take advantage of dynamic pricing is to start using it now, period. If you are hesitant, start small by turning the feature on in limited cases—for a certain time period or site type, for example—to get a sense for its possibilities and get comfortable having it enabled.
There are many immediate benefits to dynamic pricing, but there’s equal power in planning ahead with the feature. In fact, there’s never been a better time than now to try dynamic pricing and tap into the vast revenue potential of advanced bookings. Over 500 parks have already taken more than 20,000 bookings for 2025, which totals $37.3 million in revenue.
Comfortable with the concept but still unsure how to fine-tune your dynamic pricing strategy to ensure you’re earning the most revenue possible? There are a number of helpful reports through Campspot Analytics designed to help you optimize your revenue management. To see those reports and hear the live Q&A from parks owners just like you, be sure to catch the full webinar below.
Haley Dalian is a lifelong Michigander who takes advantage of recreation throughout the state’s changing seasons—from snow skiing to scuba diving in the Great Lakes. A former Campspot marketing manager, Haley holds a B.A. degree in public policy from Michigan State University and an M.S. degree in sustainability from the University of Michigan. She is passionate about environmental stewardship, exploring the outdoors, and has never met a potato she didn’t like.
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