iGMS Integrates with DPGO to Automate Your Pricing Management
At iGMS, we’re on a mission to help you improve every aspect of your vacation rental management so you can maximize your business results. As applying a dynamic pricing strategy is no less important than providing a brilliant guest experience for ensuring your business’s profitability, this month, we’ve partnered with another dynamic pricing tool to ensure your rates are always based on data-driven insight.
We’re thrilled to announce our recent integration with DPGO dynamic pricing tool, the perfect solution for short-term rental hosts and vacation rental managers who want to take out the guesswork from their revenue management.
Not with iGMS yet? It’s high time you joined! Employ automation to make the most of the upcoming high season as travel is on the road to recovery.
What Is DPGO?
DPGO is an AI-driven dynamic pricing tool designed specifically for vacation rental hosts, managers, and owners. DPGO applies the right prices and availability settings daily for your properties based on competitor analysis, market demand, and more than 200 other data parameters.
DPGO’s team consists of real estate investors who own properties across Canada, the US, and Europe collectively, so they understand the challenges of being a short-term rental host. The company specializes in local market data and has hired the top big data engineers to ensure their dynamic pricing tool generates the most accurate pricing suggestions.
How Can I Benefit from the DPGO Integration with iGMS?
With our newest integration with DPGO, you can incorporate dynamic pricing into your revenue management strategy and ensure that you don’t undervalue your property. You don’t have to monitor competitors’ prices, look out for local events, or read the tea leaves to figure out the best rates for your listings — DPGO will take all this work off your shoulders. In its turn, the integration will apply DPGO pricing strategies to every iGMS channel with the API connection: Airbnb, Vrbo, and Booking.com.
Find out in more detail how exactly DPGO supercharges your revenue potential:
AI-driven dynamic pricing
As mentioned above, DPGO utilizes an AI-driven algorithm that evaluates over 200 market data points and becomes smarter every day to create pricing recommendations. These recommendations are tailored for every listing individually.
In a nutshell, the tool takes the following factors into consideration:
- Local booking trends
- Competitor pricing
- Competitor occupancy rates
- Seasonal fluctuations
- Historical booking rates
- Local events
- Days of the week
- Length of stay
- Cancellation policy
Personal pricing strategy
Basically, DPGO offers three pricing strategies — aggressive, recommended, and conservative. However, each of them can be customized to your liking. Thus, you can create your own unique pricing strategy. There are over 30 settings for each listing that you can input to adjust the finer details of how your rates will be managed. This way, DPGO enables you to enjoy hands-off pricing management as you don’t need to oversee the variables that you input on a daily or weekly basis.
Within the DPGO interface, you can set the booking rules around:
- Minimum stays — decide on the minimum number of nights that you require in order to accept a booking
- Weekend adjustments — define and utilize a different pricing strategy for the weekends
- Seasonal adjustments — allow the algorithm to alter your prices based on the time of year
- Price limits — keep your prices within a pre-set range.
In addition to tweaking your pricing based on market trends and other data points, the tool continuously learns about the customer behaviors on your market to build better prediction models and refine pricing suggestions. By doing so, DPGO ensures your listing is always ahead of the curve.
You can also take advantage of the DPGO reporting tool and get a clear picture of how successful your current pricing approach is. Thus, you can check if your price limits work correctly and if you have selected the optimal pricing strategy from the options offered by DPGO: recommended, aggressive, conservative, and custom.
Based on the health score metric estimated for each of your listings, you will be able to understand how they have been performing and whether they need to be fine-tuned.
How Do I Turn On the Integration in the iGMS Dashboard?
To start using the integration, you can either go to your iGMS account or your DPGO account.
Regardless of which route you choose, make sure to be logged in to your iGMS account. This way, you can ensure that the connection between these two software solutions will remain stable. To complete the integration, follow the steps described in this how-to article.
Make sure to keep your connection window open while the system is busy integrating all the listings on iGMS to DPGO.
Do I Need to Have an Account with DPGO to Utilize the Integration?
To take advantage of the integration within the iGMS system, you need to have a working account with DPGO. If you haven’t signed up for DPGO yet, you can do it here.
Do I Have To Pay for Both Tools While Using the Integration?
Since you will be employing both iGMS’ and DPGO’s unique capabilities and services, you will need to pay for your subscriptions separately. The good news is that no extra charges will apply for utilizing the secure and stable connection between these two tools.
Also, specifically for iGMS customers, DPGO has a special offer. You can get a $20 bonus for connecting one listing to DPGO and a $50 bonus for two or more listings.
Where Can I See Rates and Availability Adjustments in iGMS?
Once you have successfully completed the initial sync, and DPGO pricing and availability settings have been applied to your listings on iGMS, you can find them in the Multi-calendar and Single Property Calendar.
If you’d like to change pricing optimization rules or tweak the rates, go to your DPGO account, as this is where these settings are controlled. The frequency of synchronization of DPGO rates to iGMS is regulated by DPGO and cannot be altered manually on iGMS. If you are experiencing any issues with the rate synchronization, you can contact the DPGO support team.
No Magic, Just Automation
Although we don’t have a magic wand, at iGMS, we know how to set up your business for success with the help of automation. Sign up for a free 14-day trial to try out our robust vacation rental software and its advanced capabilities in action. To enable you to make the most out of using iGMS right from the start, we also offer a free onboarding session.