Data & Profits Part 2: Average Ticket Price and Finding the Sweet Spot
The Flybook authors Part 2 of our "Data and Profits" series in Adventure Park Insider that brings relevant pricing research to the Adventure Park industry.
We recently had the pleasure of publishing Part 2 of our Data & Profits series in Adventure Park Insider, which covers a topic we talk with many of our customers about on a regular basis- pricing strategies. In Part 1 of the series, we discussed the concept of using data intelligence in your business operations to manipulate profits and increase total climbers. If you haven’t had a chance, read Part 1 for ideas on how to meet and exceed your break-even metric. In Part 2 of the series, we focus on the, sometimes tenuous, topic of pricing and specifically how to analyze increases and decreases to your average ticket price data point. It’s important because it significantly impacts overall revenues, profits and even your business's popularity. We broke down how to calculate your average ticket price and then how people react, consciously and subconsciously, to prices. We cover anchor pricing, analysis paralysis, fear based pricing, specific numbers and symbols and more.
Links to Articles:
Adventure Park Insider & The Flybook Article-