1. Set Review Schedule: Establish a regular schedule for reviewing your pricing strategy, such as quarterly or bi-annually. Consistent reviews ensure that your prices remain competitive and aligned with your financial goals.

2. Analyze Booking Data: Examine booking data to identify trends in occupancy rates, average daily rates, and revenue per available room. Look for patterns that indicate when adjustments might be needed.

3. Monitor Market Trends: Stay informed about market trends in the hospitality industry, including changes in consumer behaviour, emerging travel trends, and economic factors that may influence demand.

4. Gather Guest Feedback: Collect and analyze feedback from guests regarding their perceived value of their stay. Use this information to identify areas for improvement or opportunities to enhance perceived value.

5. Evaluate Competitor Pricing: Regularly check the pricing of competitors to ensure that your farmstay remains competitively priced. Consider their promotions, discounts, and any new offerings that might impact your market position.

6. Assess Cost Changes: Review changes in operating costs, such as increases in utilities, labor, or supplies. Adjust pricing as necessary to maintain profitability while covering rising expenses.

7. Adjust for Seasonality: Reevaluate your pricing for different seasons, taking into account historical occupancy patterns and upcoming events or holidays that may affect demand.

8. Optimize Dynamic Pricing: If using dynamic pricing, review the algorithms and rules to ensure they are effectively adjusting prices based on demand and booking patterns.

9. Consider Long-Term Goals: Align your pricing strategy with your long-term financial goals, such as revenue growth, market expansion, or investment in property improvements.

10. Implement Changes Thoughtfully: When making price adjustments, communicate changes clearly to potential guests and monitor the impact of these changes on bookings and guest satisfaction.

By regularly reviewing and adjusting your pricing strategy, you can ensure that your farmstay remains competitive, meets the needs of your guests, and achieves your financial objectives.