Pricing Recommendation Nudges
What are nudges?
Nudges framework delivers customized suggestions, saving you time and optimizing your pricing strategies for higher occupancy and revenue, especially if you manage an portfolio of listings.
You'll receive prompts (also called nudges) when a listing's setting needs adjustment, enabling you to realign with market conditions and boost your competitiveness.
These nudges are available on the Pricing Dashboard
- this proactive approach saves the effort of continuously monitoring the platform for new recommendations, ensuring that you stay informed without investing excessive time and effort.
We perform a check every 7 days for your listing to see if they are eligible for nudges.
What action to take when you get a nudge?
Please note that the nudges DON’T automatically change your settings. You have the option to accept or reject these nudges.
Base Price Nudge
Eligibility for Base Price Nudge
With the Base Price Nudges, we keep a close eye on your base price and notify you if we detect a more than 5% difference between your Current Base price and our Recommendation for a new Base Price.
The "Learn More
" link will lead you to the Base Price Help Tool
and allow you to tweak our recommendation.
When will your listing NOT get a base price nudge?
The following cases are NOT eligible for a Base Price Nudge:
- If you have seasonal prices set via Custom Seasonal Profile, you won't receive a Base Price Nudge
- For mapped listings, the nudge will only appear on the Parent listing, and you'll have the option to apply the Base Price Nudge to your child listings
Minimum Price Nudge
Eligibility for Minimum Price Nudge
In the next 30 days, if at least 21 available days are sitting on the Minimum Price, and Minimum Price hasn't been changed in the last 10 days, we recommend users to reduce their Minimum Price by 5% for the eligible listing.
The "Learn More" link will display a tooltip that describes why you are getting this nudge.
When will your listing NOT get a minimum price nudge?
- If your Minimum Price has been modified in the last 10 days
- If you use a Minimum Price other than the Listing level Min Price in the next 30 days (e.g. minimum weekend, far-out, custom seasonal min price set on Group, Sub-group, or Account-level)
- For mapped listings, the nudge will only appear on the Parent listing, and you'll have the option to apply the Minimum Price Nudge to your child listings
To learn more about setting up your minimum price, check our guide here
Setting your base price
What is the base price? Base price is the average rate you would charge across the year. We use the base price as a starting price and apply all market factors, demand patterns, and customizations on top of this. The base price includes the quality ...
What are minimum, base, and maximum prices- How to set them up?
We’re sure you must have seen fields for Min, Base, and Max prices over a few places within PriceLabs. This article will explain what these terms are along with their purpose. Minimum Price The minimum rate is the lowest price a user sets for their ...
Understanding the Pricing Calendar
(Watch our Pricing Calendar Playlist here) The calendar shows recommended prices for each available night in the future. You might notice that each day has a different price - and this is the magic of dynamic pricing! In general, the prices fluctuate ...
What is Dynamic Pricing and how to use it?
Dynamic Pricing: This provides automated daily rate and minimum stay updates based on market data and your listing performance. You can deep dive into how it works here. We analyze each listing and recommend daily rates based on several factors. We ...
How Are the Price Recommendations Calculated?
Our algorithm integrates multiple factors, customizable inputs, and controllable settings, alongside data-driven analytics, to deliver enhanced results. When you review prices for a listing for the first time - You must first set your Base Price of ...