How Does Smart Pricing Work?

Article Summary: Learn how Smart Pricing can boost your revenue by raising appointment prices during high-demand periods, what you'll pay for this feature, and how it affects your checkout requirements.


What is Smart Pricing?


Get paid what your time is really worth with Smart Pricing. Our advanced technology analyzes your business, identifies your most popular time slots, and raises the prices slightly to match their true value. This allows clients who really need your prime booking times to get them more often. Clients who are more flexible can always get one of your regular booking times for your standard price. This all happens automatically so you can make more money and make clients happier without lifting a finger. 

 

How it Works 

  • Our Smart Pricing feature identifies your most popular time slots and raises the prices by 20% (up to $50) to match their true value.
  • When your clients book online, they will see a slight price increase on your most popular time slots. 
  • For all Smart Pricing appointments, the card on file will be charged automatically one hour after the appointment ends -- no need for your client to pull out their wallet! 
  • You’ll see your extra earnings in a breakdown in the appointment details. 
  • An automatic 20% tip will be included, or your client can add a custom tip from the text message we send them during and after the appointment.
  • If there is a problem with the card on file, the appointment will appear red on your calendar.
  • You can disable this feature from a specific appointment by clicking the “disable” link inside of the appointment details. This will revert the price to the original amount, and remove all mention of Smart Pricing from the appointment. 


What Are the Benefits?

Charge Right, Earn More:

  • Prices are slightly adjusted, tapping into clients’ willingness to pay thus optimizing revenue from high-demand slots.
  • Take the guesswork out of pricing - our technology ensures you always charge the right amount.
  • Typically Pros earn an average of $3K extra annually just by keeping Smart Pricing ON
What You'll Pay?


5.5% of the service cost (max fee is $16.50, *max amount may vary depending on the number of additional services included in the appointment).


Example



So for paying $16.50, you will earn an additional $63.50 automatically without raising a finger.

What is the Checkout Process?

For all Smart Pricing appointments, the card on file will be charged automatically one hour after the appointment ends - no need for clients to pull out their wallet!


An automatic 20% tip will be included, or your client can add a custom tip from the text message we send them after the appointment.


Your client will see the price increase at the time of booking alongside education for them to learn more about the increase.



Can I Turn Smart Pricing Off?

If you feel that Smart Pricing is currently not the right fit, you can turn it off in the Smart Pricing settings screen. You can always turn it back on when you are ready to use it.



Frequently Asked Questions | FAQ

Does my client know there’s a price increase for these time slots?

Yes! When your client selects an appointment time that is impacted by Smart Pricing, it will display the cost of the appointment for them, in addition to an indicator telling them it is a high demand time slot. They also have the ability to tap on the learn more icon for more information on Smart Pricing appointments.



Why was my client charged more than the stated cost?

In addition to the 20% increase on the standard appointment cost, Smart Pricing appointments also have an automatic tip of 20% by default. This information is displayed for your clients in the booking flow when they book their appointment. Your client will receive a text message after the appointment that gives them the option to modify their tip amount if they choose. 


What if I don’t want to charge my clients more?

If you don’t want a specific appointment to be impacted by a Smart Pricing increase, you can disable this feature by clicking the “disable” link in the appointment details. This will revert the price to the original amount and remove all mention of Smart Pricing from the appointment.


If you’re on our Premium Plan, you also have the option to turn this feature off completely in your settings. 


Why wasn’t I paid out the full amount for a Smart Pricing appointment?

A small fee will be taken from each Smart Pricing appointment prior to your payout. 


There is a 5.5% fee taken from the service cost (max fee is $16.50, *max amount may vary depending on the number of additional services included in the appointment).


How does Smart Pricing impact the Deposit my client is charged?

The deposit amount your client is charged is based on the total service cost, which takes Smart Pricing into consideration. Therefore, when a client books an appointment with Smart Pricing applied, they will pay the amount of your fixed deposit cost on the adjusted service cost upfront to secure their appointment, with the remaining amount to be settled upon completion of the appointment.


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Modified on Thu, Dec 12 at 9:46 AM