Today’s article on Execute WooCommerce Pricing Strategies with Wholesale and Dynamic Pricing Plugins is brought to you by Sujith Reghu – Copy Writer at ELEX
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You might have different approaches when it comes to pricing strategies on your WooCommerce store. A good pricing strategy is one that takes into account the expectations of your customers as well, along with meeting your sales targets. That means you have to delve deep into analytics insights and market research. Also important is to have flexible tools to help you execute your pricing strategies smoothly, whatever they may be. In this article, we will discuss a few WooCommerce plugins that will help you execute your pricing strategies more effectively. Find more insights on WooCommerce pricing here.
WooCommerce Dynamic Pricing and Discounts Plugin
WooCommerce pricing strategies are generally driven by manufacturing cost, competition or the product’s perceived value. Any of these approaches would require a flexible tool for seamless execution. ELEX WooCommerce Dynamic Pricing and Discounts plugin helps you configure price adjustments dynamically on your store. These price adjustments can be at product, category, cart or combination levels. You will find options to apply complex pricing rules with minimum effort. At the same time, with certain restrictions, you can make sure that the discounts won’t eat into your profit margins. You can read about some of the features of this plugin with specific use cases later in this article.
Beeketing for WooCommerce
Beeketing for WooCommerce is a comprehensive marketing suite for your online store. Apart from helping you with improving sales, it also helps in increasing the average order value, reducing cart abandonment and improving conversion rate. With the help of this plugin, you will be able to offer cart-level discounts to customers. In addition, you can configure free shipping or offer free products when a purchase is made at a specific order value.
- Store strategies to improve conversions – The plugin offers several in-store strategies to improve chances of conversion on your store. It helps you set up sales countdown timer, and low stock alerts on product pages to create urgency in the minds of prospective customers. Also, you will be able to display popups notifying recent orders, and ongoing deals.
- Increase average order value – You will be able to bundle up certain products to improve the average order value on your store. Beeketing for WooCommerce also makes it easy to up sell and cross sell products on your store. In addition, you will be able to display different product recommendations such as ‘Recently viewed’ or ‘Best Sellers’.
- Helps you keep in touch with customers – The plugin helps you send follow up emails to customers recommending additional purchases or information about new releases. It also enables you to chat with customers on Facebook Messenger without leaving your store.
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Advantages of using ELEX Dynamic Pricing Plugin
Let’s take a quick look at the obvious advantages of using this plugin.
Multiple levels of price adjustment
The most important feature of this plugin is that it helps you configure price adjustments and discounts at multiple levels. Based on the analytics insights of a time, you might want to set up price adjustments at product, category, cart or combination levels. All these can be achieved effortlessly with the help of this plugin. For example, you can set a rule like this one – “Buy three units of a particular product to get a 20% discount.” Or, you can say “Buy Product A and Product B together to get a 25% discount. For all these rules, you can set a maximum discount value as well, that will help you control the availed discount in each order.
Moreover, the plugin also helps to set up BOGO (Buy One Get One) rules. You can create several such rules according to your store strategy.
Customize the rules to suit your store strategy
For each of these rules, you can set conditions and restrictions to selectively apply them. While creating a new rule, you can configure it to apply only to specific email ids, or user roles. The purchase history of a customer can be taken into account as well. You can also set a time range for which a particular rule will be available. These flexible conditions help immensely to set up a personalized pricing plan, which is quite popular as analytics insights became more accessible.
In addition, you can modify the order with which the rules are applied. This too should give you more control in executing advanced pricing strategies on your WooCommerce store.
Helps to display offers conveniently
When you have several price adjustments or discounts on your store, you would want to display them conspicuously to generate interest among your customers. This plugin helps you display product tables and offer tables on product pages. This would encourage customers to choose one of your offers and in the process purchase more items or additional products. A pricing table can be displayed on the product page if you have configured rules for that specific product. You can also display an offer table that lists out all the available offers on your store. The plugin also offers an option to choose the location on the product page to display these tables.
Overall, this plugin can be a real asset if you want to try out dynamic pricing strategies on your store. It is pretty easy to configure, and will definitely help with your advanced WooCommerce pricing experimentations. The premium version of ELEX Dynamic Pricing and Discounts plugin is priced at $79 for a single site license. You can also download the free version of this plugin here.
ELEX WooCommerce Catalog Mode, Wholesale & Role Based Pricing
When you are running a wholesale store, you might have varied approaches in pricing to different customers. These differences might be according to the volume of purchases, or based on some agreement you have made with each customer while they register on your site. So most probably, you will have different layers of pricing, which you would want to apply to different customers or customer groups. Naturally, applying this kind of price adjustments would require an advanced tool. ELEX WooCommerce Catalog Mode, Wholesale & Role Based Pricing plugin provides adequate options for a seamless execution of wholesale pricing strategies.
User roles to help with price adjustments
This plugin helps you execute pricing strategies by exploring the possibilities of user roles. You will be able to set prices or price adjustments to specific user roles. In a wholesale environment, this can be extremely useful. For each user role, you can modify tax class and display options as well. If multiple user roles are assigned to a single customer, the plugin helps you prioritize them. Price adjustment can be made with a flat rate or a percentage rate. Moreover, you can create custom user roles that will be available only to this plugin.
Control the product visibility of users
Based on the user roles, you can control how different user view the frontend of your site. You can choose to hide prices, Add to Cart buttons, etc., according to your specific requirements. Or, you can even choose to completely hide particular products from being displayed to specific users roles. And if needed, you can apply the catalog mode feature in a single click, where the eCommerce functionality will be taken off from the entire store.
This plugin will help you a lot in executing a wholesale pricing strategy on your WooCommerce store. The premium version of ELEX WooCommerce Catalog Mode, Wholesale & Role Based Pricing will cost you $69 for a single site license. If you want to try out the free version of the plugin first, you can find it here.
ELEX Bulk Edit Products, Prices & Attributes for WooCommerce
The above two plugins can be really useful when you want to apply complex pricing rules and personalized pricing. However, if you want to simply keep a sale price for a temporary period, you can use the ELEX Bulk Edit Products, Prices & Attributes for WooCommerce plugin for editing prices in bulk. The main advantage of this plugin is that you can edit more than 10000 products in one go. It is pretty fast and is one of the simplest ways to edit a large number of products together.
Use filters to selectively edit products
While using ELEX Bulk Edit plugin to set price adjustments, you can selectively filter the products you want to update. When you have a store with numerous products, this can be a convenient factor. It offers options like Regex pattern matching, product types, categories, attribute value, price, etc. to filter products that you need to update. So irrespective of the vast number of products on your store, you will be able to select the specific ones which you want to apply a price adjustment.
Set sale price based on the regular price
With the help of this plugin, you will be able to set sale prices for all the filtered products based on their regular prices. For example, if the regular price of a product is $25, you will be able to set a sale price with 10% discount. Or, if you already have sale price displayed on the store, you can make adjustments based on the existing sale prices. If needed, you can round the price to the nearest value that you specify.
This plugin can be a great help if you have a lot of products on your store (it can handle over 10000 products), or if you prefer to apply an occasional discount in the simplest way. The single site license of this plugin would cost you $69. You can download a free version too, if your store doesn’t have variable products.
Execute WooCommerce pricing strategies smoothly with these plugins
Your pricing strategy can be one of the defining aspects of your business success. Thankfully, there are several advanced analytics and marketing tools to help you devise a suitable pricing strategy for your store. However, you might need to get the support of an efficient tool to execute your pricing strategies seamlessly. Hope the plugins mentioned in this article would help you execute your pricing strategy with great outcomes. Leave a comment if you have a query regarding any of these plugins.
We feel honoured to have Sujith Reghu’s insights featured in our blog, and we are incredibly thankful for the knowledge he has shared with us.
Author bio here
Sujith Reghu: Writing on WordPress and WooCommerce with an unflinching focus, and trying to woo the unyielding Google bots.