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.
Smart Pricing helps you earn more without the hassle. By automatically adjusting your rates based on demand, you can maximize your income while keeping your schedule booked! Here are the benefits:
- Smart Pricing boosts your earnings by an average of $2,600—and the fee is only 5.5% of the total appointment.
- You keep the majority of the upcharge, while we help optimize your pricing so you never leave money on the table.
- No more guessing—Smart Pricing adjusts for you, ensuring you charge what you’re worth at peak times.
- Clients with flexibility can book non-Smart Pricing time slots, ensuring you capture demand at all price points.
- Smart Pricing helps maximize your income without driving clients away.
- Data proves: Pros using Smart Pricing don’t see a dip in bookings.
You have the option to customize Smart Pricing to make it the perfect fit for your business and your clients! (Premium Plan only)
It’s your pricing and your rules. Here are all the ways you’re in control of Smart Pricing:
- Adjust the up-charge amount
- Exclude returning or VIP clients
- Remove the feature from specific appointments
- Turn it off when you don’t need it
- See which time slots are affected
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.
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.
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.
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 Fri, Mar 14 at 12:52 PM