MINDBODY adds Lymber dynamic pricing engine to its product platform

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

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