Hybrid Pricing: The Next Evolution of Dynamic Pricing

September 20, 2022 | John Maus

Introducing Hybrid Pricing

Today, we’re excited to introduce the newest generation of the Wheelhouse Platform & Pricing Engine.
 
In total, there are dozens of product & feature updates in today’s launch. 
 
However, each update is part of a new evolution of the dynamic pricing landscape that we call Hybrid Pricing.
 
Hybrid Pricing enables teams to simultaneously leverage our industry’s two primary pricing strategies:
  • Rule-Based Pricing - leveraging user-generated rules to set dynamic prices
  • Data-Driven Pricing - leveraging data to respond to dynamic market conditions
And, importantly, in creating a bridge between these two pricing approaches, our team discovered a way to unlock a vastly new ecosystem of pricing strategies & tooling.
We call this new ecosystem Hybrid Pricing, and it is the foundation of our most flexible, powerful & delightful pricing platform yet person cartwheeling 
 
We’re thrilled to share this new ecosystem with you today, and we’re fairly confident you’ll soon echo the sentiments of early users who have shared: 
 
“Hybrid Pricing sure feels like magic!” unicorn  

Hybrid Pricing: the Great Unlock

Historically, operators & revenue managers have had to choose between the lesser of two evils:

  • Data-Driven Pricing
  • Rule-Based Pricing

To bring out the best of each of these approaches, Wheelhouse Hybrid Pricing is comprised of 3 critical components.

  • Data-Driven Pricing
  • Rule-Based Pricing
  • Seamless Bridge

All of these must be executed exceptionally well to make Hybrid Pricing valuable to your revenue management practice.

Therefore, today’s launch features the additions of – and updates to – the following aspects of the Wheelhouse pricing platform:
 
#1:  An exceptionally intuitive & scalable Rule-Based Pricing  New! 
  • The easiest way to create, edit & analyze any pricing strategy.
  • Enables you & your team to stay fully-in-control of your portfolio.
  • Design goal was to enable you to take back 50-80% of your time.

#2:  A deeply researched & powerful Data-Driven Pricing  Updated! 

  • The best data-driven pricing engine just got better!
  • Our new UI means you can select, analyze & adjust your ideal data-driven approach, with ease.
  • Still the only transparent & auditable pricing engine in our space.

#3:  An elegant & seamless bridge  New! 

  • Create a means to move between rule-based & data-driven, in a single click.
  • Enable you to leverage data - only if, when & where you want it.
  • Split & scale your portfolio, with ease.

Collectively, these three components open up an extremely flexible, customizable & scalable revenue management foundation.

Let's check it out!

Ready to future-proof your revenue management with Hybrid Pricing?
 
Let’s check out the newest evolution in dynamic pricing here:

Ready to take Hybrid Pricing for a spin?

Hybrid Pricing is available to everyone as of today.
 
It’s part of our Wheelhouse Pro plan, so you can test it out easily now.
  • Sign in
  • Sign up
  • Connect with our sales team
Over the coming weeks, we’ll be sharing many more tips & tricks for leveraging this powerful new approach to dynamic pricing.
 
We can’t wait to see how you take Hybrid Pricing for a drive!
 
Best,
Team Wheelhouse
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