About Yield Management

Yield management is the process of adjusting the price of a service in response to market factors, such as demand or competition, to maximize revenue. With Yield Management in Meevo, you can:

  • Adjust your prices according to supply and demand of business resources. If you’re slow on Tuesdays, you might reduce service prices on that day to incentivize booking during slow hours. Or, if you are especially busy on Fridays, you might increase prices to account for the high demand and low availability of your employees.
  • Apply employee-specific programs. You might increase pricing for an always-booked employee, and reduce pricing for an employee who continuously has a lot of openings.
  • Create a Program that prioritizes all members or specific memberships.

You can also schedule automatic price adjustments by customizing:

  • Date range and time of day
  • The type of adjustment (increase, decrease, or specific price)
  • The Client Types that the price adjustment applies to
  • The services and employees that the price adjustments apply to

What qualifies an appointment for Yield Management pricing?

All elements of an appointment must be configured for Yield Management in order for the client to receive the Yield Management price: a defined service must be booked for a defined client type, during a Program time, with a defined employee. Adjustments are applied to the service price. When available, Meevo considers employee-specific pricing and membership pricing as well. 

Note: Mark Items on Sale cannot be applied in tandem with Yield Management in the same transaction. In this scenario, the Yield Management Program adjustment will take priority.

How do I set up Yield Management?

  1. Create a Strategy: A Yield Management Strategy groups similar Yield Management Programs together; all programs must be linked to at least one Strategy. Strategies usually focus on a particular time-frame or date range (for example, summer afternoons or the winter season), or the types of services that will be impacted. We recommend naming each Strategy according to its purpose: for example, "Summer Discounts;" "Perpetual: Early Bird Discounts;" or "Busy Hours Increases."
  2. Define Programs: A Yield Management Program is a set of defined, automatic service price adjustments. These adjustments can be configured as increases, decreases, or specific prices that are based on a date, time of day, service, servicing employee, Client Type, or client membership.

How does Yield Management work with multi-location businesses?

Multi-location businesses should note the following regarding the creation of Strategies and Programs:

  1. If a Strategy is created in Central Office, only Central Office can edit the Strategy and add Programs under that Strategy. However, if the Strategy was made available to a location, then the location will be able to edit the CO-created Program details.
  2. The Employee selection step is not available when creating a Program in Central Office (the Employees tab does not appear). Once the associated Strategy is made available to locations, it is up to each individual location to edit the CO-created Program and select their desired employees from the Employees tab.
  3. If a Strategy is created at a location, only the location can edit the Strategy and add or edit Programs under that Strategy. A location-created Strategy (and its Programs) are not viewable from Central Office.
  4. See Inactivating or Deleting Programs and Strategies for details on how this works with Central Office and locations.

How do Yield Management Programs and adjustments appear in Meevo?

For a complete rundown of what Yield Management adjustments look like in the Appointment Book/Editor, Transaction Editor, receipts, and reports, see How Yield Management Adjustments Appear in Meevo.

Do Online Booking clients see Yield Management pricing?

Yes, clients who book using Online Booking will see Yield Management and Member Benefit pricing throughout the client-facing OB site. The client must be logged in to see this dynamic pricing.