Melanie Benwell shares how adopting Beyond’s technology has taken the guesswork out of pricing.
Perfecting our Pricing
As self-caterers, we wear many hats. We can quickly shift from maintenance manager extraordinaire to captain of call handling in seconds. The same goes for the financials of our businesses, particularly pricing.
I’ve co-owned and managed several self-catering properties at Trevorrick Farm for just shy of 21 years, and until now, I’ve always manually priced my properties. Let me tell you; this is no easy feat. If I’m entirely honest, I had no real tactics when physically pricing my self-catering business. My approach was a bit of a jumble between guessing seasonal trends and assessing what my competitors were doing. Don’t get me wrong; it worked to some extent – we have bookings, but I knew we were missing a trick.
I’ve always been aware of the dynamic pricing technology on the market, but it scared me a little. I suppose it was fear of the unknown. As a proud SuperControl user, I had heard many great things about pricing with Beyond. I was particularly interested in how it would save me time to focus on other areas of my business. I started to dip my toes in the dynamic pricing pool after lockdown in August 2020, and I now don’t where I’d be without it!
Making the Move
The great thing about SuperControl is being part of a community of like-minded individuals, and as such, I’ve grown a base of peers over the years. The encouragement and support of my circle led me to take the final leap of faith and adopt Beyond’s pricing tool. It didn’t take me long to see I was under-pricing myself, and I almost couldn’t believe how easy it was to integrate. At a flick of a switch through my SuperControl account, I was ready to make the most of my pricing.
Beyond has enabled me to get my pricing right. I’m a big believer in the principles of supply and demand, and this isn’t something you can foresee correctly when pricing manually. Beyond’s algorithm does the hard work for you, providing peace of mind that your properties are perfectly priced for every occasion. Running a niche business targeted at young families, Beyond’s ability to take special events such as school holidays into consideration is a game-changer.
Up until I put my hesitations to the side and implemented Beyond, I shared others fears. Would I lose repeat guests? Would I price myself out of the market? Will my properties become undesirable? My concerns haven’t become a reality, and the ability to offer specific discounts through SuperControl while setting maximum and minimum prices with Beyond has put my mind at rest.
Relishing in the Results
It’s safe to say I wouldn’t ever return to manual pricing. The time I have saved with Beyond is precious, and of course, the increase in turnover has been a bonus too. A combination of Beyond and the post-covid boom has seen our revenue increase by 35% when comparing 2019 and 2021. We’re now in a great position where we can reinvest the growth in our revenue to the areas of our business that matter the most. I already have my eye on new play equipment for the farm; we’ve already purchased a mobile play farm shop which our little guests adore!
SuperControl and Beyond work in harmony, and I’d encourage all self-caterers to give the technology a try. What Trevorrick Farms offer is unique, and Beyond has enabled us to position this offering correctly in the market. I’ve realised that dynamic pricing isn’t all about increases; it’s about getting it right.