Strategies for determining best nightly rate for STR?

[Wesley Myers]

Other than going through VRBO or ABNB and looking at similar properties how do you determine what your nightly rates should be for specific days/months/seasons of the year?

On another post someone mentioned “fierce pricing” to obtain less reservations but the same income as if you priced it lower with more turnover. In theory less wear and tear on the unit itself, furniture, less cleaning, etc...

What’s your method for determining your nightly rate and how do you ensure your maximizing your potential?