Outdoor amusement park, high season and dynamic prices — Long Weekend in the Baltic Tourist Complex in numbers
The Baltic Tourist Complex is one of the most recognizable family theme parks in our country. This year, JuraPark Bałtów, which is part of the Baltic attractions, celebrates its 20th anniversary. On this occasion, many surprises were prepared for tourists, including the implementation of dynamic prices — all in order to make Bałtow available to “every pocket”. From May, you can plan a trip to Baltov in order to save up to 25% compared to the price at the box office. Despite the wide scope of this project, the implementation of innovations went extremely smoothly for the managers and ahead of the “Mayówka” itself in the Bałtow Tourist Complex a new tool has been launched — Droplabs Dynamic Price Engine. Thanks to the enthusiasm and commitment of the “Bałtowa” team The solution was implemented in less than a week!
Dynamic Pricing as a price management strategy is different from the previous one and is focused on strong bet on online sales and customer education in such a way that Buy tickets as far in advance as possible. In addition to the benefits of additional revenue, Dynamic Pricing allows increase the number of positive reviews, whether help manage the occupancy of the facility. How did this solution work in an open, weather-dependent tourist attraction? We answer right away — Great! In this case study We will analyze the results of the implementation of this strategycomparing them with the same period in 2023.
Dynamic revenue growth
Let's start with what entrepreneurs are most interested in. And how better to measure if a tool works than with numbers?
Total revenue during the “May Day” increased in the Baltic Tourist Complex o 45% compared to the same period of 2023. This increase was influenced by three factors: higher attendance, pre-planned price increases and higher revenues on individual tickets thanks to the Dynamic Pricing Droplabs algorithm.
We will look at this last aspect. For this year, an increase in ticket prices at the property is planned. However, instead of the traditional increase, it was decided to use dynamic pricing. Thanks to this strategy, the new pricing policy generated more than 10% more revenue compared to what the originally planned, permanent price increase would bring. How exactly does it work?
At the beginning, it is worth emphasizing that the increases thanks to the algorithm managed to obtain more than the increase planned in advance for this year. In 2023, the main ticket in the normal variant cost PLN 109, of which the price was to be changed to PLN 129 for all customers. Thanks to the strategy implemented by the team in Bałtow in cooperation with Droplabs specialists, a normal ticket could be purchased in 2024 at prices between PLN 109 and PLN 146. The price was controlled by an algorithm and raised it at the right time for the selected dates, if he judged that such an increase could be made without prejudice to attendance and purchasing decisions by customers. Taking into account the number of guests who visited the property, you can calculate the profit generated precisely by using Dynamic Pricing. Comparing the planned revenue, when the price for tickets would have been fixed in advance (taking into account the already planned increase for this year) and the actual sales result, which was achieved using the algorithm This gives you more than 10% of the additional revenue generated by Droplabs.
The average revenue per customer in 2024 was 23% higher than in 2023. This increase was due both to planned price increases and to a higher proportion of customers buying tickets at higher prices thanks to the use of dynamic prices.
That's a solid dose of hard numbers, showing great Dynamic Pricing results. And what makes up this success?
Ticket sales strategy
Selling tickets online was a key part of the strategy. In the case of the Bałtowski Complex, during May Day, until 70% of tickets were sold online. In order to maximize the potential of Dynamic Pricing, the “Bałtowa” team was fully involved in the project and used the support of Droplabs in terms of ticket sales strategy and sales communication. Thanks to this, customers could see the benefits of buying tickets online and naturally chose this channel themselves.
Customer Behaviors
And how exactly did the customers behave? According to what we mentioned above, guests strongly preferred to buy tickets online. Even on the day of implementation, a large number of guests chose this form of purchase of the ticket.
Almost 8% of visitors to the complex had a ticket purchased online at least 4 days in advance, which is a high result. This means that they guaranteed themselves the best price, and the Bałtowski Tourist Complex gained a certain customer. As you can see, the fact that the facility is outdoor and the weather can affect the guests' plans, however, did not make the interest in buying tickets in advance less. Customers who want to be able to choose a cheaper ticket are happy to book a seat in advance. This solution also makes it possible to”distractors” do not change the plans of the guests. In the event that, for example, on the way to an object they see an advertisement for another attraction, or find that they will change plans because someone they know is in the area, they will continue to be motivated to come to the originally chosen object. Thus, such The customer becomes almost a guest. This can also be seen in the statistics, as those who applied for ticket refunds accounted for only 0.5% of all buyers. It is also worth asking a question, what% of visitors would not appear at the park at all, if not for the earlier purchase impulse caused by the pricing policy?
Interestingly, paying for tickets early makes A customer who does not show up continues to make a profit. In the case of the Baltic Tourist Complex, during the May period, 1,5% Tickets purchased online have not been used or returned. They are so called”No show”, which bring additional profit to the facility, without increasing occupancy.
Increased efficiency of facility occupancy management
Quoting Filip Lichota, President of the Management Board of the Bałtow Tourist Complex: “We discussed with my partner whether the Sunday after the May weekend would be heavily occupied. Our opinions were divided, but The Droplabs system indicated that this time there would be less traffic. And it agreed!”
Both the purchase of tickets in advance and the algorithm developed by Droplabs allow not only to optimize the pricing policy, but also to predict occupancy in the facility. This, in turn, gives you the opportunity to prepare for increased or limited traffic on a given day.
As you can see, the textbook approach to the use of dynamic pricing, is not only an increase in revenue, but also the provision of tools for optimizing other areas of the facility's operation.
Customer Reviews
An additional benefit of using Dynamic Pricing is an increase in the number of reviews about the property. In the period from May 1 to 8, 2024, customers left 122 reviews on Google with an average score of 4.8. The number of reviews has increased due to the automation of the process of their collection. Contributed to 62% increase in the number of positive posts compared to the previous year. The average rating was 4.6.
In addition, marketing consents left when buying tickets online allow you to reach up to 26% guests. This translates into creating an effective contact base for marketing activities. This allows you to better choose the strategy of your activities and reach directly to interested people, for whom the chance of conversion is very high. The base can also be used during less busy times of the year when tourist attractions struggle to attract customers.
summary
The Bałtowski Tourist Complex is one of the largest tourist attractions in Poland, which is located in an open area. The peculiarity of such an object is strong dependence of traffic on the weather on a given day. Dynamic Pricing dispelled all doubts about booking tickets in advance for this type of attraction and brought impressive results in a short time. The introduction of dynamic prices before the “May Day” 2024 made it possible to significantly increase total revenues, and average revenue per customer increased by 23%. A key element of success was betting on online ticket sales. In addition, the earlier purchase of tickets by visitors ensured better occupancy management and revenue stability, and unused tickets contributed to additional profit. Attendance during the long May weekend increased by more than 20%. This was influenced by several factors, including the most favorable weather and accurate marketing carried out by the team in Bałtow.
On the other hand, as many as 8% of visitors on tickets purchased at least four days in advance allow us to state with great certainty that the new price policy with algorithm also contributed to the increase in attendance Dynamic Pricing Droplabs. It mobilized for the purchase and arrival of families who, without a ticket purchased in advance, would change their plans and end up spending time in another place, for example at family meetings or in a competitive attraction. It is worth remembering that a much higher attendance was realized with a simultaneous significant increase in the average revenue per guest. In addition, the number of customer reviews increased by 62%, which strengthens the reputation of the facility. Thanks to the automation of the collection of opinions and marketing consents, the Bałtowski Kompleks Turistički has built effective contact base for further marketing activities.
In addition, results comparable to the Baltic Tourist Complex obtained at the same time Jura Park Krasiejów. It is an attraction located in a completely different part of Poland, but under the banner of the same group as “Bałtów”. By adjusting the operating strategy and getting the algorithm to the specifics of this place, we managed to increase revenues to a similar extent and meet the expected business results, including the promotion of a comprehensive type of ticket, on which “JuraPark” depended.
The Bałtowski Tourist Complex and JuraPark Krasiejów were the forerunners of dinosaur parks in Poland. This year they are celebrating their 20th anniversary and are once again setting trends in the industry. All this thanks to the openness of the management board and owners to innovation, efficient execution of activities and a cohesive team — both in “Krasiejów” and “Bałtow”.