Smart Boat Pricing
Last Updated on February 21, 2024 by Boatsetter Team
Setting the right rates for your boat is a trial and error process. With Smart Boat Pricing, Owners can save time, keep up with the competition, and improve their pricing strategy.
Post summary:
- How Smart Boat Pricing works
- Benefits to using Smart Boat Pricing
- How to use Smart Boat Pricing
Explore more Owner exclusive Products on the Boatsetter blog
How Smart Boat Pricing works
Smart Boat Pricing uses three key metrics to come up with a boat price: Local demand, boat length and type, and boat age. Boat prices we recommend for your boat are unique to the duration and do not dynamically change day to day.
The best way to use Smart Boat Pricing is as a suggestion tool to get ideas on your pricing strategy. Use the Smart Boat Pricing as a starting point then toggle to Custom Pricing and skew the numbers up or down to see how they compare to other boat rentals.
While we do strongly recommend staying close to the suggested boat price, there are no marketplace penalties to overpricing or underpricing. Choosing the boat price is completely up to you but don’t feel overwhelmed by this decision. You can change your boat price at will.
*Commercial fishing charters are excluded from this feature.
Benefits to using Smart Boat Pricing
While Smart Boat Pricing is a great price strategy tool, we strongly recommend searching for your same boat type near you. Beyond pricing, check out how other Owners set up their boat profile — photos, description, title, and all.
- Keeps your boat competitive
- Stay on top of marketplace shifts
- Improves pricing strategy
- Major time saving resource
Pro tip: If the rental price for any duration increases or decreases by 5% , you will receive a new price recommendation via email.
How to use for Smart Boat Pricing
Just follow these steps to start using Smart Boat Pricing.
- Go to your Owner dashboard
- Click on My boats, then Edit listing
- Click on the Durations & pricing tab, then Edit
- See Smart boat pricing under Select the durations you’d like to offer…
Pro tip: Smart Boat Pricing only affects the boat price. It does not apply to captain pricing or on boats listed for fishing charters. To learn how to set up your captain pricing, click here.
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