Creating a Yield Management 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, like summer afternoons or a holiday season.
How does Yield Management work with multi-location businesses?
Multi-location businesses should note the following regarding the creation of Strategies and Programs:
- 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.
- 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.
- 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.
- See Inactivating or Deleting Programs and Strategies for details on how this works with Central Office and locations.
To create a Yield Management Strategy
- Type ymstrat into the Convobar, or go to Management > Yield Management Strategy.
- From the Yield Management Strategy search screen, select Add New.
- Display Name: Enter a name that accurately summarizes the Programs you plan to create. We recommend naming each Strategy according to its purpose: for example, "2021 Summer Discounts;" "Perpetual: Early Bird Discounts;" or "Busy Hours Increases."
- Location Options: In Configure Locations, you can select to which locations the Strategy will be available. If a location is given access to a Strategy, it is also given access to ALL Programs within that Strategy.
- When finished, select Save. You can now create Programs for this Yield Management Strategy.
To edit a Strategy
A Strategy is editable only to the location (or Central Office) that created it.
- Locate the Strategy and select it.
- Select Edit, and then make your changes. The Display Name and Location Options are editable.
- When finished, select Save.