Product

Hybrid Pricing: The Next Evolution of Dynamic Pricing

By John Maus, Head of Finance and Operations

2 minute read

Table of contents

Introducing Hybrid Pricing
Hybrid Pricing: the Great Unlock
Let's check it out!
Ready to take Hybrid Pricing for a spin?

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

rule-based vs data-driven

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.

Rule-based vs data-driven

We call this new ecosystem Hybrid Pricing, and it is the foundation of our most flexible, powerful & delightful pricing platform yet. 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!”

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. 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!

Contributors

John Maus

Head of Finance and Operations

John's responsible for overseeing and managing all aspects of the Wheelhouse's operations. This includes developing and implementing operational strategies and processes that will allow the company to achieve its goals and objectives.