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MINDBODY adds Lymber dynamic pricing engine to its product platform

MINDBODY adds Lymber dynamic pricing engine to its product platform
March 30, 2017

Leading cloud-based fitness management software company MINDBODY has announced the acquisition of Lymber Wellness, an early-stage technology company specialising in breakthrough yield management solutions for class and appointment based businesses.

Built on MINDBODY’s API platform, Lymber’s technology enables business owners to set dynamic pricing parameters for class and appointment sessions. The technology identifies open class and appointment inventory, and automatically adjusts session prices in real time to match supply and demand.

Similar to yield management solutions found in the entertainment, hospitality and tourism industries, automated dynamic pricing enables wellness business owners to increase class and appointment sales without degrading their existing full-price paying customer base.

The net effect is to enhance the business’ revenue and profitability, while providing a broader audience of price sensitive wellness seekers with more affordable options.

MINDBODY Chief Executive and co-founder Rick Stollmeyer explained “the Lymber team has created a breakthrough technology addressing the holy grail of our industry – yield management.

“By embedding this technology into our business software, consumer apps and the MINDBODY Network, we intend to enable our subscribers to better achieve their business goals by more effectively selling the millions of available classes and appointments they offer each day.

“This is a win-win for wellness business owners, practitioners and consumers everywhere, and a huge step forward in our mission of creating a global wellness services marketplace.”

Deep integration of Lymber’s technology into the MINDBODY platform will begin immediately, with initial rollout expected in the second half of 2017.

Click here to contact MINDBODY via their entry in the Australasian Leisure Management Supplier Directory.

Lower image: Rick Stollmeyer

14th February 2017 - MINDBODY WINS 2017 BIG INNOVATION AWARD FOR BRANDED APP SOLUTION

14th November 2016 - MINDBODY NAMED OFFICIAL BUSINESS SOFTWARE SPONSOR BY THE IDEA HEALTH & FITNESS ASSOCIATION

12th October 2016 - AIRACTIVE PARTNERS WITH THE MELBOURNE BUSINESS SCHOOL TO DEVELOP YIELD MANAGEMENT SYSTEM 

30th April 2016 - MINDBODY APP WINS 2016 WEBBY AWARD AND WEBBY PEOPLE’S VOICE AWARD 

16th July 2014 - 24/7 GYMS TO DRIVE FITNESS INDUSTRY REVENUES DOWN 

19th February 2014 - AUSTRALASIA NEEDS TO MAKE THE MOST OF DYNAMIC PRICING IN ENTERTAINMENT AND SPORT

23rd May 2012 - DYNAMIC PRICING IN THE SPOTLIGHT: ARTS AND ORIGIN II

3rd November 2010 - DYNAMIC PRICING PAYS OFF FOR SAN FRANCISCO GIANTS TICKETS 


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Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

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