Did you know that you can add dynamic pricing to your products on your WooCommerce store? Using third-party plugins, you can introduce dynamic pricing to your products for extra customization and boost your revenue per item. With dynamic pricing, you can include sales, discounts for bulk purchases, loyalty discounts, and more. WooCommerce dynamic pricing opens up a new world of possibilities for your online store.
Installing a WooCommerce dynamic pricing plugin to your store will allow you to tag these discounts onto any product without manually creating a new sales entry or discount for each item. Just set which products you want to discount by category or per individual item, and you are all set!
The Right Circumstances for WooCommerce Dynamic Pricing
It’s not always financially smart or pertinent to offer discounts or sales on items. Perhaps you want to ensure that loyalty members can’t rig your system to get a major discount on rare, high-ticket items. There is an appropriate time and circumstances to set up dynamic pricing on your products.
Here are a few common situations that WooCommerce Dynamic Pricing is perfect for:
● For bulk purchase orders
● In multi-product bundles
● To encourage visitors to buy certain products
● As part of a loyalty program
These dynamic pricing options encourage more sales and should be part of your business’ marketing strategy. Get creative with dynamic pricing and offer last-minute discounts similar to the checkout aisle products available to influence impulsive purchases.
How to Add a WooCommerce Dynamic Pricing Plugin to Your Website
If you run a larger business and regularly have the traffic coming to your website for sales and purchases, you might need a powerful capabilities and functions plugin. In that case, check out the official Dynamic Pricing Plugin on the WooCommerce website.
It costs $129 per year and offers several features such as discounts per product purchased or percentage-based discounts based on items ordered. This premium add-on has Advanced Dynamic Pricing capabilities that may be necessary for a high-volume online marketplace.
How to Add a WooCommerce Dynamic Pricing Plugin for Free
There are also some non-paid free plugins available in the WordPress directory for WooCommerce dynamic pricing. Some of these plugins offer powerful features and are very easy to use. We recommend Dynamic Pricing with Discount Rules for the WooCommerce plugin.
Step One: Install and Activate the WooCommerce Dynamic Pricing Plugin
To download the free version of Dynamic Pricing with Discount Rules for WooCommerce, click here. Once downloaded, head to your WordPress Dashboard and find the Plug-In area from the left side menu. Activate the plugin and get ready to begin configuring dynamic pricing.
If you have a large inventory, it may be helpful to write it down in a spreadsheet or note which categories and items should/should not receive discounts.
Step Two: Configure Dynamic Pricing Rules
Once you’ve activated your plugin, you are ready to begin configuring your plugin to suit your business needs. To begin configuration, head to Pricing Rules from the left side menu, then click > Add New Rule.
Then, a new form will appear. Name your rule, then begin to set priority levels for your rules in case of mixed logic instances. Since this is your first rule, the priority should be at 1 and set the Active to ‘on’ button.
You can set rules based on users (logged-in customers) or specific products. If you want to offer a quantity-based discount, you can configure it in the Discount Type menu. This will bring up further customizable options for your discount.
To create specific discounts for certain products, you’ll need to configure the Product Lists tab (found on the left side Dashboard menu). You can add products by category and name your lists accordingly.
Step Three: Test your Discount Rules and Front-End Usability
Next, you’ll want to test your discount rules and the usability of the front-end experience. We recommend checking each rule applied against a variety of different logic and scenarios. Depending on how complex your sale rules are, you’ll want to make sure there aren’t any loopholes that could give customers bigger than expected discounts.
Customers will also receive notifications when a discount has been applied to an item on their cart. Make sure your rules and sales are accurate and give information to the customer as well. You can customize this by heading to Pricing Rules > Settings > General Settings. From this area, you can customize the styling of the notifications as well.
We hope this guide has been helpful. At Bright Vessel, we understand the importance of a successful online store. With third-party WooCommerce plugins for dynamic pricing, we can help you configure an entire storefront for optimized marketing and sales-driven profits. Let us help you today! Contact us here.