What is Yield Management?
Yield management allows you to limit the number of bookings and/or covers that can book for each time-slot. It works by helping to manage the strain on your wait staff / bar staff / chefs at particular times, and helps you to control the flow of traffic in and out of the venue. With Yield Management you can rest assured that a maximum amount of customers be booked in, without adversely effecting the quality of your service.
Why and how do we use it?
Go to Settings - Table Management - Services - select the Segment - select the Service - select the fourth tab along - Yield Management, here you can apply the following:
- Apply different rules dependent on segment
- Run simultaneous Cover and Booking Rules.
- Apply different values to each
- Day
- Time Slot
- Day+Time Slot
Here you can set your maximum covers according to your interval times.
In the example below, the yield is set to a maximum of 15 covers every 15 minutes; you can also change this to a maximum number of bookings every 15 minutes or have both a maximum number of covers and bookings per interval/booking slot:
You may wish to take less covers depending on the day of the week and per time slot; this can be done by pressing the toggle under actions:
Here you can adjust the day variables to less (not more) than what is set on the previous page, for example if you wish to take less covers on on a Friday and Saturday at key booking times please see below. (We recommend an hour glass effect so as not to cause an impact on the ambience/atmosphere within your venue)
