Dynamic Pricing Solutions for Attractions
Zoos, Aquariums, Museums, Amusement Parks, Tours, Water Parks, Ski Resorts
CORONAVIRUS PRICING INFORMATION CENTER
Insights from experts on pricing in the COVID-19 era
Dynamic Pricing Solutions for Performing Arts
Orchestras, Dance, Theatre, Opera
Dynamic Pricing Solutions for Entertainment
Broadway, Concerts, Festivals, Special Events; Producers, Promoters, Venues
Our dynamic pricing solutions provide our clients with automated, data-driven pricing technology of a caliber that was previously only available to the largest corporations.
Track Record of Success
Digonex has been a leader in the field of dynamic pricing since 2000. Our automated and customized solutions have consistently delivered strong results across a variety of markets and business conditions; double-digit percentage growth in revenue in the first year of dynamic pricing is common.
The algorithms that power our solutions are developed by our team of Ph.D. economists. This allows our clients to benefit from leading-edge science supported by two decades of research and development in dynamic pricing. Digonex’s proprietary technologies have been awarded six patents to date.
Flexible Pricing Approach
Effective pricing strategy is about more than just near-term revenue maximization. Digonex solutions are customized to balance revenue growth with your other vital objectives such as community accessibility, managing attendance to desired levels, and long-term customer loyalty.
Clients Retain Control
Our pricing solutions supplement rather than replace our clients’ experience and market knowledge. We integrate client-specified constraints and pricing rules directly into our solutions. Digonex clients can accept, reject or modify our price recommendations through our easy-to-use web portal.
Service as Great as Our Science
Digonex's team works closely with you every step of the way from solution design to implementation, and stays with you for the duration of our work together. There is always a real human to talk to and our economists are continuously refining our pricing solutions over time as additional market data is gathered.
Dynamic Pricing Blog
Dynamic pricing for attractions was a new innovation in 2014. To understand how it could be spread, we examined Diffusion of Innovation theory. We learned that there are five main factors that determine the rate of adoption of an innovation. All of them have come to pass in 2020.
Our CEO Greg Loewen explores common misconceptions about dynamic pricing that we often hear from attractions operators. At Digonex, we’ve put these myths to the test, with explosive results!
After COVID-19, most attractions are requiring their guests choose the date and time when they are planning to come. How can your organization leverage dynamic pricing in conjunction with moving to timed ticketing and capacity management? Here are 3 common questions we’ve heard about the implementation of dynamic pricing.
Determining the right price has always been challenging, but it is particularly complex in a rapidly-changing environment. Additional factors must be evaluated to determine the best price during this unprecedented time. So how do you pick an optimal price in this situation?
Attractions around the world are working on modifying their operations in preparation for re-opening following the COVID-19 pandemic. Many changes will be required, to satisfy both government authorities and the ticket-buying public that it is safe to return. But there’s one change that attractions should consider making permanent to support long-term revenue management.
When attractions or arts organizations re-open after a pandemic, how should they think about pricing their tickets? Digonex Chief Economist Dr. Murat Atlamaz, Ph.D., describes four factors to be considered.
How does dynamic pricing work? Even for people familiar with the basic concept, the mechanics of generating price recommendations remain mysterious. How can a person understand dynamic pricing without a math, statistics, or economics background?
It’s a common misconception that “demand-based” pricing means the higher the sales of something, the higher the price should be. But the optimal price is not always correlated with demand, at least not in the way you might think.
The human mind is wired to prefer avoiding loss over maximizing gain. For this reason dynamic pricing may feel like gambling to some. But static pricing has its risks as well.
Starting out with dynamic pricing is a bit like learning to swim. But what if promoters just can’t bring themselves to jump into the deep end with dynamic pricing? Is there a way to wade into it cautiously, without diving in headfirst?
The new Disney seasonal pricing has some asking, “Has Disney gone too far?” The better question is, “Has Disney gone far enough?” Variable pricing is a step in the right direction, but has its limitations.
Disney announced on February 27 that it was implementing “seasonal pricing” for its California and Florida theme parks. Or was it “surge pricing?” Maybe “variable pricing?” Perhaps it was “demand-based pricing.” It might have been “dynamic pricing.” We take a closer look at what Disney did and did not do with pricing.
Digonex CEO Greg Loewen commented, “We are thrilled to be a new member of the ACME eco-system partner network and excited to be working with Rick and the rest of the Seattle Aquarium team. We are confident that our dynamic pricing technology will help the aquarium to accelerate its recovery from the pandemic and its growth in the years ahead.”
Digonex clients Dennis Woerner of the Indianapolis Zoo and Lisa Townsend of The Children’s Museum of Indianapolis were interviewed about their dynamic pricing experiences by the American Alliance of Museums blog, answering questions like,”how does your pricing system work?” and “what’s been the outcome?”
In this interview with AudienceView.com, Digonex CEO Greg Loewen tells the story of Digonex in own words: our history; our science; and why Digonex is uniquely position to help AudienceView users make the most of dynamic pricing.
“We’ve enlisted the services of Digonex to make more intelligent decisions about the pricing for many of our shows. We’ve found that with the assistance of the solution, and the economists on their staff behind the scenes, pricing recommendations are being made based on inputs we never would have considered before.”
“We are delighted to be working with Digonex”, said Mark Danemann, President of accesso Siriusware. “We have always focused on providing our clients with innovative tools to drive revenue and through our new relationship with Digonex, our clients now have seamless access to best-in-class dynamic pricing solutions.”
Gateway’s President and Chief Executive Officer Michael Andre added: “Our mission is to make our customers’ lives easier. Through our alliance with Digonex, we’re offering them an automated dynamic pricing solution that can boost their revenue with no manual updating necessary. Providing them with easy integration to this scientific approach can only help them achieve their goals.”
Chris Pohl, Digonex VP of Client Services, discusses seasonal pricing and how dynamic pricing can complement a seasonal pricing strategy.
“Besides powering revenue across the organization through ticketing, fundraising, memberships, marketing, and more, Tessitura Software includes many advanced tools for strategic decision-making. With the addition of our partnership with Digonex, the Tessitura Community will be able to take it to the next level,” said Jack Rubin, President of Tessitura Network.
Two different Digonex clients (Icon Concerts and the Indianapolis Zoo) were featured in an article on dynamic pricing by AP business writer Joseph Pisanti, which further discusses the expanding uses of dynamic pricing by amusement parks, bars, and Broadway shows.
Bruce Kopp of Indianapolis NBC affiliate WTHR-TV visited the Digonex office and spoke with our client, the Indianapolis Zoo, for his Eyewitness News report on dynamic pricing.
“Walt Disney Co.’s move to lift prices at Disneyland and its other theme parks on busy days was a novel step for the entertainment giant, but the news made perfect sense…”
From IAAPA’s Funworld magazine, November 2015 issue: The Indianapolis Zoo is now in the second year of its new pricing structure, and the results continue to be strong.