Coronavirus pandemic has had a detrimental effect on businesses and the fact that things are not expected to go back to normal in the near future, requires businesses to become innovative to survive. The COVID-19 has not only changed how people interact, but it has become the deathbed for many companies. The impact of the coronavirus on the UAE gig economy is an excellent example of how businesses and freelancers must change to survive. As most businesses close down, others are reinventing themselves on the realization that even in lockdowns and social distancing rules, people must eat and do all the things that make them human.
Since people will continue to work from home and maintain social distance for many months, you should expect a few customers in the stores, but that opens new opportunities for online selling. Instead of shutting your business because you are not making enough sales to sustain your business, you can seek the help of a freelance web developer in Dubai to move your business online. You can start selling your products and services online using WooCommerce for free and, thus, grow your customer base by targeting those working at home. WooCommerce is a popular online platform that is customizable to suit the needs of different types of businesses. Whether you are a drop shipper or a manufacturer, you can find some of the best WooCommerce themes that will give your website a competitive edge.
In addition to themes that are friendly and easy to use, WooCommerce further lets you create advanced custom pricing rules for your products through dynamic pricing. It is a discount strategy that helps businesses increase online sales conversion by adopting multiple tiers of pricing. You can easily set up advanced custom pricing rules by installing a WordPress dynamic pricing plugin on your website. The plugin lets you offer discounts and coupons to your customers based on their shopping behavior.
Why It Is Necessary To Use Dynamic Pricing on Your WooCommerce Store
The strategy is a perfect way to accelerate your income during these turbulent times of COVID-19 pandemic when everyone is looking to save money. It enables you to create discount tables in a well-structured format that makes it effortless for your customers to redeem their coupon codes. If you use the strategy correctly, you can be able to increase customer loyalty by creating custom discounts. For example, you can give your special customers a premium discount of 15 percent as you give your regular customers a 10 percent discount.
With the dynamic pricing flexibility, you can go a step more to maximize the sales of your best selling product as well as promote your business to a targeted location. The method will not only help increase the number of visitors to your website, but it will also encourage customers to shop more to enjoy more discounts when they reach a specific cart value. You can ask a freelance web designer in Dubai to create a discount rule that targets all your customers. For example, you can give your customers a ten percent discount when they purchase three quantities of a specific item, 20 percent when they buy five and 30 percent when they buy seven items.
The above example is a simple pricing strategy that creates a win-win situation for both the store and the customer. Customers can be able to see the possible discounts when they buy more, increasing their urge to increase their sales volume to benefit from a bigger discount. The strategy helps to increase demand while at the same time giving customers the benefit of a bulk purchase.
How To Setup The Best Advanced Custom Pricing Rules for your WooCommerce Store
1. Single Product Pricing
This strategy helps businesses to target their best selling products. You can easily set up discounts for a single product by:
- Create a name for a discount rule and express the validity of the offer
- Set up the conditions for the specific product
- Determine the dynamic pricing for the product through the dynamic pricing tab
2. Bulk Product Pricing Discount
It is beneficial for a business to create an advanced pricing rule that encourages people to purchase a bigger volume. When setting up the bulk discount offer, you will need to determine the minimum quantity that qualifies for a discount. You may also set the maximum quantity or use an * to set up an unlimited maximum bound. You will then specify the type of discount to apply. You can use a price discount, percentage, or a fixed price.
3. Special Offer
You can set up a special offer for your customers with dynamic pricing. You will need to specify the number of items the customer should buy to qualify for the discount, as well as the amount the customer will receive. If necessary, you should indicate whether the rule applies to a repeating customer.
4. Category-based Pricing Discount
You can give your customers a discount that applies to a specific category of products. The process is straightforward, with a few steps.
- Specify as a category-wise discount in the general section
- Enable the pricing rule
- Offer multiple discount ranges in a single capsule
5. User Role Pricing
If there is a need to recognize the efforts of specific users, your freelance web designer in Dubai can easily tailor your discounts to suit the roles of different users.
- Define the general rule
- Select the right user role from the user drop-down menu
- Specify the conditions for the user
- Enter a quantitative value for the user
6. Cart Discount
If you notice increased customer cart abandonment, you should give your customers a reason to checkout with a custom discount. For example, you can create an advanced custom rule that gives your customers a ten percent discount when they reach a specific cart total before checking out. To give your customers a card discount, you will need to;
- Give the cart rule a name and specify the validity
- Use values to create the cart rule
- Go to the discount tab and set the discount value
7. BOGO Discount
Buy One, Get One pricing discount is a popular remedy for online stores. You can easily encourage customers to purchase the second item in the following steps.
- Specify the general information about the discount rule
- Select the product you would like to offer a discount on a second purchase
- Set up discounts in the discount tab
While the advanced custom pricing strategies in this article are the most popular with online stores, you can ask a freelance web developer in Dubai to help you create other rules that best match your customer needs. You can use the “+” symbol to create more rules and enhance your customers’ engagement.