📌 This article answers the following questions:
- What is a pricing plan in elloha and why create more than one?
- What’s the difference between a Standard pricing plan, a Special Offer and a Promotion?
- How can I increase my chances of getting bookings using pricing plans?
- In what order should I create my pricing plans in elloha?
Why this is important: there isn’t just one type of customer. This is a basic principle of revenue management.
That’s why each type of guest will be looking for different rates (with or without half-board, as a ‘family package’, as a promotion, including linen hire, or even last-minute deals, etc. The possibilities are endless.
Put simply, a pricing plan is tailored to specific types of guest. By simply increasing the number of your pricing plans, you also simply increase your chances of securing bookings, as your offers will appeal to several types of guest at once!
1 – What your customers will see
Here’s what your customers will see when they visit your booking engine and you’ve set up multiple pricing plans:
Firstly, the customer will see that you’re offering them one ‘Standard Price’ option (which could also be called the ‘Base Price’); in other words, your regular price:
The price is €380
I must pay 75% at the time of booking
The offer is cancellable subject to certain conditions (details can be viewed with a single click)
Secondly, I can see that I still have the option – for the same dates and the same number of travellers (2 adults) – to take advantage of two Special Offers:
An offer including breakfast for just €20 extra
However, the condition is that I must pay 100% at the time of booking
And to confirm that my booking will be non-refundable
A second offer including a “surfing getaway” for just €37 more than the “Standard Price”, with more restrictive payment and cancellation terms in return
I could also have offered one or more promotions for the same dates with different terms and conditions (regarding payment and cancellation).
Put simply, by offering several different packages, I can reach several different audiences and therefore increase my chances of securing bookings.
2 – Key points to remember
To be listed for sale, your holiday rental must include at least one Standard Price Plan: this is therefore the basis of your elloha account, enabling you to activate your first bookings! See how to create your first Standard Plan
You can create a Special Offer based on this initial “Standard” plan by adding, for example, “breakfast”, “late check-out” or “a bottle of champagne on arrival”: these “Special Offers” will likely be subject to different pricing and cancellation terms. See how to create a special offer.
But you can also adapt your Standard Rate Plan or one of your Special Offers into a Promotional Rate Plan: this plan takes all the settings from its “reference price” and applies a discount (as a percentage or in €) based on what you have specified. See how to create a promotion.