German Bundesliga club Hertha Berlin has signed a new two-year partnership with Smart Pricer, a provider of dynamic ticket pricing solutions.
Hertha, who play at the 74,000-capacity Olympic Stadium, implemented Smart Pricer’s dynamic pricing solution at the start of the 2016-17 season after more than a year of extensive testing.
In signing with the Berlin-based company, the club’s goal was to optimise ticket sales and fill the venue more evenly. After seeing revenue per ticket increase by more than five per cent since integrating with Smart Pricer, Hertha said it was happy to continue the partnership.
“The results of the Smart Pricer software convinced us. We are pleased to use their intelligent pricing solution in the entire Olympic Stadium,” said Thomas E. Herrich, a board member at Hertha.
Smart Pricer, which also works with Hertha’s football rivals Bayer Leverkusen, VfB Stuttgart and Eintracht Frankfurt and cinema chain Odeon-UCI, said sports clubs around the globe are facing the challenges of the digitalisation of modern ticketing.
The company said that in addition to using modern data algorithms, effective communication with fans has been a key success factor for acceptance of the pricing.
“We see intelligent pricing powered by machine learning and data analytics as an important building block in the future of ticketing,” said managing director Franz Blechschmidt.
“The results show that after the implementation of Smart Pricer’s automated pricing software, the revenue per ticket increased by more than five per cent – whilst maintaining a good fan acceptance. We are very happy to continue the successful work with the Hertha BSC team in the next two years.”
Image courtesy of Smart Pricer