Prices fluctuate, and if you are running a WooCommerce site, then you would also know that prices need to change with time and demand. The pricing depends on the type of product that you are selling, its demand, the price that you will get the new lot. That’s why shops need to have the option to set dynamic pricing.
If you enable dynamic pricing, you can also make discount coupons for your customers which makes deals for customers much better!
In this tutorial, we are going to go through the proper steps of setting up WooCommerce dynamic pricing. For this purpose, we are going to use the OptimizeForm Core plugin which lets you control different facets of your WooCommerce site. By the end of the article, you should be able to enable and control dynamic pricing on your site.
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Advantages/Benefits of WooCommerce Dynamic Pricing
WooCommerce Dynamic pricing brings a lot to the table. It has benefits that you should know before you implement it. By implementing dynamic pricing on your eCommerce site, you will get the following benefits:
- The dynamic pricing enables you to boost sales conversion.
- If you correctly implement the dynamic pricing, you will also see an increase in WooCommerce store revenue.
- Dynamic pricing also lets you clear old stock or non-moving products
- Better pricing always attracts visitors and you will also see a jump on referral traffic source
- Enable you to offer credibility and authority
- Improves cart abandonment rates
- Let you create a big customer base!
When you need to offer WooCommerce dynamic pricing
If you are just starting out your WooCommerce site, it is not a good idea to offer dynamic pricing or discounts. In the early stages, your focus should be to make your site appeal to more visitors and market your site so that it reaches a newer audience!
With that said, there are many circumstances where you need to make discounted prices accessible. These use-cases include
- Users looking for product bundles
- Bulk purchase
- You are looking to do clearance sale
- You are offering discounted price as part of your loyalty programs
There is no doubt that there are plenty of ways you can take advantage of discounted or dynamic pricing, and then use it as a tool to improve sales. It is important to know when you need to do this, and that completely depends on your business requirement, budget and business growth implementation strategy.
How to setup WooCommece Dynamic Pricing
Now that we have understood the core idea and other aspects of dynamic pricing, it is now for us to go through the tutorial of how to setup WooCommerce dynamic pricing using OptimizeForm Core plugin.
Step 1: Install and Activate OptimizeForm Core Plugin
The first step is to get the OptimizeForm plugin. The step to install the plugin on your WooCommerce site. Once you get hold of the plugin, you need to go to the backend of your site and then install it.
To do so, go to Plugins >> Add New. From there, choose Upload and then Install to start installing your plugin. Once done, click on active to start using the plugin.
Step 2: Activate OptimizeForm Pricing Discount Rules And OptimizeForm WooCommerce Wholesale
As OptimizeForm Core comes with multiple modules, you need to activate the right modules to get started. For our purpose, we need to enable two modules:
- OptimizeForm Pricing Discount Rules
- OptimizeForm WooCommerce Wholesale
With these modules, you will be able to control pricing of the product. This way you can set dynamic pricing.
Let’s get started.
Step 3: Changing Different Settings To Achieve Dynamic Pricing
Now it is time to change dynamic pricing on the site. The first step that you need to take is to go to the Pricing tab. There, you will find the option to set Add Pricing Group. For instance, you can set up pricing for Wholesale Pricing.
As you can see, the wholesale pricing can be set where you can set the dynamic pricing based on the number of orders by the buyer. Similarly, you can add more pricing groups where you can set different parameters based on your requirement.
You can enable dynamic pricing on category discounts. To do so you again need to go to the category in the Pricing section. To do so go to OptimizeForm >> pricing and then choose Category.
In this section, you will find the categories listed. This means you can easily set a discount percentage for each of the categories. You can also set a Price discount if you need to. Once you enter the discount information, do not forget to save changes by clicking on “Save Changes.”
You can also set pricing based on roles. To do so, you need to go OptimizeForm > Pricing > and then Roles as shown in the image below.
In the roles section, you will be able to see all the roles listed. Here, you can also set the dynamic pricing based on the roles.
This leads us to the end of our WooCommerce Dynamic Pricing. You can also set up cart discounts in advanced rules where you can set Quantities based on Cart total, giving the audience the necessary dynamic pricing.
If you still need to know more, then request you to check the OptimizeForm Core plugin. You can also use the comment section below and ask questions!