Looking to create dynamic pricing deals? Well, it's pretty easy to boost your online sales with dynamic pricing discounts.
This is a comprehensive guide that will help you understand all about Dynamic Pricing in today’s context. It will also walk you through various popular strategies followed by successful online stores. And you have some crazy ideas as well.
Table of contents
- WooCommerce Discount Rules
- What is dynamic pricing in WooCommerce
- Why should you use dynamic pricing discounts?
- Types of Dynamic Pricing
- 10+ Best Dynamic Discount strategies for your Woo Store
- WooCommerce Dynamic Pricing Guide
- How to set up Dynamic Pricing WooCommerce Discounts?
So, what’s needed to craft your online pricing strategy?
A WordPress pricing plugin which allows you to create dynamic discounts. WooCommerce Discount Rules is one such WP plugin to create your online store discounts.
Dynamic pricing is a discount strategy to increase online sales conversion with multiple tiers of pricing deals.
Bulk pricing discounts, first-order coupon discount, volume discounts, User role specific discount, multiple coupon discount.
What’s new about the above discounts?
Well, these are few of the dynamic discounts that can bring you high amount of customer acquisition.
WooCommerce Discount Rules
Also, you're not the only one in this eCommerce niche. Are you? Want to win over your fellow Woo store owners? Setting Woo Dynamic Pricing with WooCommerce Discount Rules plugin is the smart way to trade online.
WooCommerce Discount Rules is one of the best selling WordPress dynamic pricing plugin. Creating Dynamic Pricing rules for your WordPress eCommerce store can be done with ease using this discount plugin. This WP plugin allows you to create as many dynamic discount rules and conditions per rule as you want.
Be it simple discount rules like BOGOs, percentage discount or complex Woo discounts like bulk cart discounts, coupon-based deals, Woo Discount Rules has got the simple steps to create all your store discounts.
Here is all you need to know about dynamic pricing and discount strategy for WooCommerce,
What is Dynamic Pricing in WooCommerce?
Dynamic Pricing is the practice of offering a tailored product price for your website visitors based on their shopping behavior. A Woocommerce store owner can easily set up Dynamic Pricing and Discounts using several WordPress Plugins.
The WordPress Plugin Repository has got several free WooCommerce dynamic plugins. Among those popular WordPress extensions, WooCommerce Discount Rules offers the most range of discount rules.
Offering discounts and coupon codes to your web visitor is the way to improve your online store's credibility.
Why should you know about the significance and benefits of dynamic pricing strategy? Because it will help you move forward in setting your eCommerce pricing. Well, for building a successful online store, you need updation with all the eCommerce resources.
Advantages of Dynamic Pricing in your WordPress eCom Store
WordPress eCom a.k.a WooCommerce is a popular eCommerce platform in the niche.
- Dynamic Pricing makes more online shoppers to actively shop at your Woo store.
- Creating coupons and discounts for the right product categories at the right moment fuels your eCommerce store revenue.
- Dynamic pricing strategy will improve your brand trust among your audience.
Advanced Dynamic Pricing for WooCommerce
Advanced Product Pricing can accelerate your eCommerce revenue. Creating discount tables with their respective coupons in a structured format will help customers to easily access the discount pricing.
Creating discount rules based on user roles is an advanced dynamic pricing strategy to earn your customer loyalty. Say, you provide 15% discount for wholesale customers and offer 10% for the regular customers. This not only increases your online sales but also helps to gain customer loyalty.
Advanced dynamic discount Ideas
Want to promote your brand in targeted location?
Create shipping address discount.
Want to boost online sales conversion?
Launch storewide discounts during shopping seasons and boost conversions.
Advanced Product Pricing for eCommerce products
Got any best selling product category?
Now, you can maximise the sales of that product category by creating a single product pricing discount rule.
Advanced Product Pricing for your eCommerce products will improve the number of website visitors. You can encourage customers to shop more by giving them a coupon discount when they reach specific cart value. Coupon discounts encourage people to re-engage with your online store.
Advanced Category Pricing for Woo
Setting up exclusive dynamic pricing discounts for product categories keeps your online store busy.
“What you sell and When you sell are the two sides of the sales coin“
Take this product scenario,
Winter jackets are meant for winter season and not for summer. So, the store owners must think ahead and choose the right product fit for the season to create the specific product discount.
WordPress User Role-Based Pricing
Most of the WooCommerce store owners will be familiar with WordPress user roles. So, how’s the idea of giving user role based coupon discounts.
User role discount scenario,
Say a WordPress user as ‘Wholesaler’ user role can shop apparels with 40% OFF. And WP user as ‘Retailer’ can shop the same product with only 25% OFF discount.
WooCommerce user role-based pricing can improve your website visitor engagement.
Got convinced with dynamic discount ideas? Check this quick video and know the simple steps to create your dynamic pricing discounts.
Why should you use dynamic pricing discounts?
Ain’t going to say much. The following discount scenario explains it all, Say you want to increase the sales of a particular product- “Cap”. When you create a percentage discount rule as “Buy 5 Caps or more and get 30% discount”, only people who want to buy a minimum of 5 caps will make the purchase. Also, there is no idea of how many people will buy it.
What if your discount rule says,
- “Buy up to 3 caps and get 10% discount”
- “Buy 4 to 7 caps and get 20% discount"
- “Buy more than 7 caps and get a 35% discount” - all in one rule?
So, What happens now?
The discount rule is useful for both type of website visitors who have the idea of purchasing 1 cap and also 10 caps. Now, this is a Win-Win trade scenario. Both the customer and the store owner gets benefitted.
Taking the ‘cap’ is a simplistic product example.
But in real time retailing, a trending product in the market during a particular season is sold based on dynamic pricing. Actually, the base price of the product is tweaked to be a little bit higher. It is then clubbed with woo discounts. That way, store owners can get the most out of the current demand without affecting profitability.
Got something trendy to sell in market? While you ponder over what to sell, let me tell you there is still more with the dynamic pricing deals. The advantages of dynamic pricing are listed below. Take a look at it and be assured of the benefits to your WooCommerce store.
Advantages of Woo Dynamic Pricing Strategy
Having a dynamic pricing strategy in your WooCommerce store offers a lot of benefits than static product pricing.
- Increases WooCommerce store revenue
- Builds a huge customer base
- Boosts sales conversion in your eCommerce store
- Helps selling non-moving products and clear the stocks
- Improves website traffic due to referral traffic source
- Builds authority and credibility
- Reduces cart abandonment
- Saves purchase history of potential buyers on particular events.
Types of Dynamic Pricing
Wanna try dynamic pricing and discounts on your WooCommerce store? Check the below types of Dynamic Pricing that you can implement in your online store.
10+ Best Dynamic Discount strategies for your Woo Store:
- Single Product Pricing
- Bulk Product Pricing Discount
- Category-wise Pricing Discount
- User Role-Based Pricing
- Cart Discount
- BOGO Discount
- Product Bundles Dynamic Pricing
- Shipping region offers
- Subtotal & Free Product Rules
- Coupon-based Dynamic Discounts
- Percentage Discounts
- Purchase History Pricing.
The above 12 discount rules are most practised by most Woo store owners. Check out the brief notes on how to set up these top dynamic WooCommerce dynamic price rules.
The image below shows the default screen layout of WooCommerce Discount Rules Plugin. This will be your first step while creating any types of Woo Dynamic Pricing.
WooCommerce Dynamic Pricing Guide
1. Single Product Pricing
Single product dynamic pricing strategy works the best for small scale B2B and B2C online store owners. Woo store owners can target their best selling product and offer competitive discounts. Create this product discount in simple steps to boost your sales conversion,
Step 1: Create an identifying Discount Rule name and description including the validity of the offer.
Step 2: Set the conditions for any specific Woo products
Step 3: Setup Dynamic Pricing for a single product via Discount Tab
2. Bulk Product Pricing Discount
Thinking of a discount strategy to sell more? Well, try creating a volume discount rule which will offer your customers with bulk discounts. Bulk product discount saves your valuable time because you can craft a single discount rule for all your best selling product categories.your
3. Category-wise Pricing Discount
Category-wise discount is a dynamic discount type which allows you to create coupons and discount offers for a particular product category.
Look into this simple discount idea, Say, your online store wants to offer discount on accessories. Setting a Category-Based dynamic discount will offer your customers a discount on all accessory products.
Step 1: Edit the general section for category wise discount pricing
Note: You can very well notice the ‘rule name’ in the above image relates both ‘Bulk discount’ and ‘Specific category discount’.
Step 2: Apply the Pricing Rule for a Specific Category
Step 3: Provide multiple ranges discount percentage in a single discount capsule
The ‘discount’ segment is where you define your ‘bulk discount’ rules. So, it’s evident that when a customer shops a maximum of 10 product in accessory category, he gets a 5% percentage discount.
Similarly, the bulk discount rule will offer the customers with various percentage discount amounts if they shop more.
10% when the quantity is between 11 and 20.
15% when the quantity is between 21 and 30.
4. User Role-Based Pricing
Looking to provide user role-based pricing deals in your WooCommerce store?
Well, try offering tailored discounts for your customers based on their WordPress user roles.
Step 1: Set up general settings for User Role-Based pricing
Step 2: Choose your desired user role from the User drop-down menu
Step 3: Edit the price rule with the conditions that you wish to implement
Step 4: Feed the discount rules for your specific user-role with the quantitative value
5. Cart Discount
Have you ever thought of the point of losing a potential sale? Well, most times it happens in your online cart.
So, what’s the dynamic pricing strategy to tackle cart abandonment? Create Cart Discounts and give your customers a reason to checkout payment successfully.
Say, you can create a discount rule offering 10% additional discount for customers when they reach a specific cart total before proceeding to the payment page.
Dynamic discounts for cart deals:
The following is a discount rule which offers a 20% cart discount if the customer has a minimum of 10 quantity and maximum of 50 in the cart.
Step 1: Name your Cart Rule and set the validity
Step 2: Create the Cart Rule with values
Step 3: Set the Cart Discount Value in the Discount Tab
6. BOGO Discount
BOGO - Buy One Get One discount is a well-known marketing strategy followed by both online and retail stores. Trust me, BOGOs still works. Online shoppers are always crazy when they hear about a ‘Free’ discount.
Well, BOGO discount is the smart way to improve your customer engagement rate and clear the pending stocks in your online inventory as well.
Dynamic Discount BOGO deal:
The following Woo discount rule offers a 20% discount on the second purchase in the same product category under BOGO deal. i.e, the customer buys a memory stick and gets a 20% discount when he shops a second memory stick.
Step 1: Enter the basic info in the general Woo Discount Rule section
Step 2: Choose the product that you wish to implement BOGO deals
Step 3: Set up the discounts for the BOGO free product in the Discount Tab
Note: You can also create BOGO discounts with variable product categories like "Buy one Trouser and get one cap free". Multiple variations and discount rules can be applied easily with Woo Dynamic Pricing plugins.
7. Product Bundles Dynamic Pricing
Bulk advanced product rule creates a dynamic discount for multiple sets of product all at once.
Dynamic Pricing Product bundle: The following discount rule says when the customer buys three products together, i.e Product A + Product B + Product C, the customer will get a 10% on all the individual products in the bundle.
Step 1: Create a new Pricing Rule for the product bundle dynamic pricing
Step 2: Edit the Bulk Product Pricing with your desired conditions
Step 3: Offer Discount Percentage for the bulk products that you've selected in the previous steps
8. Shipping region offers
Sometimes, popularising the brand in a particular locality will gather you quick audience. Localised branding is one strategy to grow your brand in a steady graph. So, what is the pricing strategy to achieve localised branding? Create discounts for specific shipping addresses.
Dynamic Pricing Shipping discount deal: The following discount rule is to offer a 25% shipping discount for online shoppers from United States.
Step 1: Edit General Section
Complete filling the data in the general section as shown in the below screenshot.
Step 2: Edit Cart Rule Conditions
Now, select the country that you wish to provide the dynamic shipping discount.
Step 3: Enter Discount Rules
Provide your desired dynamic discount value in this section and hit the "Save Rule" button.
After creating your WooCommerce shipping discount, you'll find the output as like the below screenshot.
9. Subtotal & Free Product Rules
Sometimes business is more than just making a sale. Creating happy customer relations is the way to craft your brand’s future. Ready to make your customers smile? Now, you can club Free offers and Gifts along with any cart discount rule.
Dynamic Pricing Deal: The following discount rule is to offer a 10% percentage discount to customers when the cart subtotal reaches a minimum order value of 300
Step 1: Edit General Tab
Step 2: Edit Conditions for Sub-Total Discounts
Step 3: Set your discount percentage
Free Product Rules: Also, you can set the product discount value as 100% and provide a free complimentary offer.
10. Coupon-based Dynamic Discounts
Who in this online shopping world doesn't like coupon discount? I bet nobody denies discount coupons.
So, ready to create your WooCommerce store coupon? Well, just make sure you have enabled WooCommerce coupons before creating one. Creating a WooCommerce coupon ain’t a tough ask with this dynamic discount plugin.
Check out the simple video tutorial to enable your WooCommerce coupon functionality.
Step 1: Select the percentage discount in the WooCommerce coupon section to get started
Step 2: Give your discount rules a perfect name
Step 3: Edit Price Rule with the specific coupon name
Step 4: Define the price rule for your Coupon Discounts
11. Percentage Discounts
The most common type of discount that everyone one of us finds both in online and retail stores is percentage discounts.
Well, you can create percentage discounts for single products, multiple products, a single category, multiple categories, single product variant, total cart and much more.
Are you just starting your WooCommerce store? Then, creating percentage discounts is the best idea to start your online discounts.
Step 1: Edit the general section in the Woo Discount Rule
Step 2: Select the product(s) for the implementing percentage discount
Step 3: Enter the desired percentage discounts in the "Value" field and save the rules
12. Purchase History Pricing
Has it been long since your earlier customers shopped at your online store?
Here is dynamic pricing idea to bring your old customers back. You can create discounts and coupons to your existing customers based on their purchase history. This will definitely bring your old customers shop again at your WooCommerce store. Also, the retargeting strategy works well here for up-selling your new products as well.
Before creating your purchase history based pricing discount, do check on these 3 major conditions,
- Number of Order,
- Purchased Product
- Purchased Amount.
Purchase history based dynamic pricing deal:
So, the customer gets a 20% percentage discount on all products if the customer has purchased for a minimum of 300 till date at your online store.
Step 1: Create a New Price Rule based on purchase history
Step 2: Choose your Order Status from the drop-down menu as seen in this screenshot
Step 3: Set the Discount Value in the New Price Rule section under Discount Tab
Note: If you need to set up multiple ranges, refer the below snapshot
How to set up Dynamic Pricing WooCommerce Discounts?
The first thing to do is to upgrade your WordPress website to WooCommerce store. Now, configuring of WooCommerce Dynamic Pricing can be done without any mishap.
Download WooCommerce Discount Rules plugin from the official WordPress plugin repository.
You can simply install Woo Discount Rules with a single click via your Plugin section.
WordPress Dashboard -> Plugins -> Add new. Now, search for "discount rules" and install the WooCommerce Discount Rules plugin effortlessly.
Once activating the plugin, you can start creating WooCommerce dynamic discounts with the support of flycart's documentation section.
Simple Dynamic discount rule:
The following discount rule follows the most basic dynamic discount strategy. Setting discounts based on the product quantity.
Add a new rule in the Price Discount Rules tab and enter the general details.
The general details include Order(Priority), Rule name, Rule description, Method, Validity. Select the method as Quantity based by product/category.
In the Conditions tab, you define to whom the discounts can be applied and on which product that discount rule applies.
It includes the following:
- Apply to: Choose All products / Specific products / Specific categories from the dropdown and select the required products or categories. Our example requires “Specific products” to be selected because “Cap” is an individual product. You can select any number of products/categories you want.
- Customers: Choose All Customers (recommended) or Only Given customers as you need.
- Purchase History: Leave it unchecked as this discount has nothing to do with customer’s purchase history.
Add as many ranges and define the different discount ranges. Let’s create 3 ranges for this example.
In each range, provide:
- Minimum quantity - minimum quantity purchased
- Maximum quantity - maximum quantity purchased
- Adjustment type - Percentage discount / Price discount / Product discount. We choose Percentage discount.
- Value - Discount value of each range - 10, 20, 35.
Save the rule and your WooCommerce online store has implemented Dynamic pricing in the storewide discounts. So, you are targeting a larger customer base with a higher chance of purchase than any other pricing strategy.
Dynamic Pricing Frequently Asked Question - FAQs
How to set up WooCommerce Dynamic Pricing?
Download your free copy from here and start configuring your Woo Dynamic Pricing strategies now.
How to use Woo Dynamic Pricing & deals?
Just create as many discount rules for all your product category with documentation support.
How much do WooCommerce Discount Rules costs?
WooCommerce Discount Rules extension is free forever. However, you need a Pro version for complex dynamic pricing with timely customer support.
How many Woo discount rules and coupons can be created?
You can create a maximum of 3 discount coupons with the free version of the plugin. Well, upgrading to premium version will allow your to create any number of coupons.
What is an example of WooCommerce dynamic pricing?
"Buy 2 Caps and get 10% Off on your next purchase"
What are the types of Woo Dynamic Pricing discounts?
Single product pricing, Bulk product pricing, Category-wise pricing, Role-based pricing, Cart discount, BOGO deals, Product bundle dynamic pricing, Shipping address offers, Subtotal & free product rules, Coupon-based dynamic discounts, Percentage discounts and Purchase history pricing.
Dynamic Pricing for WooCommerce is not working?
Get solution and troubleshooting guide our official forum, live chat or email support.
Is there any demo WordPress blog available for testing Woo discount rules?
Check the hassle-free demo with pre-installed Woo Discount rules.
What is meant by WooCommerce BOGO deals and how to create it?
BOGO - Buy One & Get One free. Refer to this article - Create BOGO deals.
Can I offer free products using dynamic pricing plugin for WP?
You can offer free products using dynamic pricing extension.
How does it feel? Pretty great, isn’t it? You are welcome to share how your WooDiscounting experience has been in the comments below!