How to bargain Magento 2 products by Name Your Price extension
As an online shopper, have you ever thought about your bargaining power when shopping online? It seems to be relatively strange if you can think about bargain since everything you are looking for is at a fixed price. However, there is no limitation for online business compared to the traditional market. Now shoppers can definitely offer a price to sellers, and in converse, suppliers also can consider the bargained price flexible. Both sides will be beneficial with Name Your Price function introduced in this post.
- Bargain and customer insight
- How Name Your Price works?
- Outstanding benefits of Name Your Price function
- Name Your Price and its must-have features
- Full Features List
Bargain and customer insight
Bargaining is a familiar activity in the shopping industry, meaning that buyers try to pay an item for more cheaply than usual or expected price. Bargaining is originated from traditional markets, where sellers deliver their self-produced goods and services. Hence they often do not offer a fixed price but depending on the buyers willing. Prices can be adjusted so that they can sell as much as possible. This is exactly how bargaining is formed.
These days, bargaining seems to be harder with online shoppers since ecommerce shops try to make their price fixed. However, every buyer loves bargaining. Some are called bargain hunters who are always looking for discounts and sales to buy their favored products. So the question is: How can online stores offer bargaining power to their shoppers? The following introduced tool will help you answer that question.
How Name Your Price works?
Name Your Price is another name of Bargain function in Magento 2 stores offering to customers. This tool allows buyers to offer back a suitable price for their orders. This price, of course, is limited in a range by sellers. Also, the bargain price is only valid (customers can buy the items at that price) when admins approve it at the backend.
Name Your Price or Bargain your purchase will undoubted appropriate to wholesale buyers and loyal customers. They should be treated better since they contribute the majority to stores’ sales over time. And this priority seems to be one of the reward methods to their lifetime customers. Hence, this add-on is most recommended to the stores with pretty long time running and who work with a lot of wholesale customers.
Outstanding benefits of Name Your Price function
Better Prices for customers
Anyone loves discounts. A bargain is a type of discount that customers love most as they can give out the payment range that they really want. It is only a small amount subtracted from the original price, so customers seem to be super happy with bargained items. For a better explanation, buyers can send admins the appropriate reasons for that bargain via a message. Name Your Price add-on support adding a comment to the bargain form sending to stores. Hence, both sides can exchange and negotiate to agree with a certain amount. Both feel satisfied with the deals.
Bargain hunters are the potential customers for your site if you can provide them with the Name Your Price feature. They will be attracted to your shop since they now can offer a price to sellers when they truly need the products without waiting for any sale events. Especially for customers as multi-items buyers, they can definitely get the discount via this Name Your Price function without contact directly to store owners. Therefore, you can meet the desire to shop more and more on your stores. Hence, sales improvement is definitely in your hand.
Great benefits for store owners
Lessen Abandoned Cart rate
Customers will not hesitate to process to check out if they think that they can bargain their order successfully. At least, they have a chance to get the better price, why do they have to stop checkout on your site? As a result, the decrease in card abandonment is easy to understand. Besides, your sites can convert sales more quickly thanks to the removal of price border.
Improve customer relationship
Customers relationship is never out of the concerns. It is much more important to e-commerce industry these days when the competition between them escalates day by day. Understanding the customer’s insight, need and want, Name Your Price module connects online buyers to their sellers via a very ancient but not outdated tool: bargaining. Buyers get the benefits not only for the discounted price but also like a small gift to reward their contribution to your store. This small gift to brighten up their soul, to make them happier when shopping with you longer.
Name Your Price and its must-have features
The Ability To Conduct Negotiation
When using this extension, customers are now able to discuss to get a better deal with stores.
To be specific, there will be a Price Bargain button on the Product View Page when customers go to your site. Through this feature, customers can easily express their willingness for a lower price. This is an effective way to capture the concerns of customers about the product even if they can not afford or are not willing to buy the product at the moment.
Directly Negotiate Through Pop-up
In order to enhance the store site experience, Name Your Price by Mageplaza offer the popup feature. It allows customers to make negotiation directly on the current page without being redirected to another page.
Furthermore, all necessary information which is used to ensure an adequate and detailed bargain discussion. Below are the fields which are displayed on the pop-up:
- Customer’ s name
- Customer’ s phone number
- Customer’ s email
- Quantity to request bargain
- Expected bargain price
- Customer’s message
Noticeably, in the message field, customers can clear up their expectation and also the conditions which they would accept to get the better price. Besides, by disabling the pop-up, you can use the static form.
Approve Or Reject Any Bargain
The approval from store admins is essential with every price request from customers. With Name For Price, store owners can approve or reject any bargain easily.
Admins can see the details of every request such as customer name, email, product name, the SKU and most important, the bargain price and message from customers from the backend. Based on these details, store owners would feel easier to make the accept or reject negotiation decision.
In addition, a response can be sent to the customers to explain their approval or reject decision. As a result, admins and customers can negotiate more to reach a mutual agreement for a different price.
Condition Bargain With Ease
The ability to set conditions for the bargain is another noticeable feature of Name Your Price extension. This feature works as an important part of the negotiation between store owners and customers. Below are the conditions which customers are required to follow:
Employ bargain to specific products: Store owners can choose certain products to allow bargain by setting the product attributes condition.
Minimum Bargain Value: The store owners set the minimum for the bargain price according to a fixed amount or a percentage of the starting price. This would ensure the suggested price is not too low compared to the original.
Valid Bargain Time: The price of products fluctuates in the real situation, so store owners need to set a specific time for the bargain price to be approved. Requesters are allowed to make purchases with good prices in a particular period of time.
Committed Minimum Quantity: The customers are asked to authorize bargain by entering a minimum purchase quantity. If the request is approved, the customers are accepted to buy with the lower price but only if the quantity they buy is at least equal this quantity.
Full Features List
For Store Admins
- Enable/ Disable the module
- Choose Customer Groups to apply the bargain feature
- Set the conditions with product and cart to apply bargain
- Set the bargain price type: Proportion of the first price or fixed price
- Set bargain value minimum
- Enable/ Disable applying bargain for tax
- Set the valid time for bargain usage
- Require minimum quantity to authorize bargain
- Set up fixed bargain form or pop-up
- Choose additional fields: Name, Phone, and Message
- Change the Price Bargain label
- Enable/ Disable sending notification through emails
- Choose General Contact
- Send notice to customers
- Include Admin Email to receive bargain notice
- Choose Confirmation Email, Approval Email, Rejection Email templates
- All bargain requests are displayed on a grid
- Enable editing bargain request
- Enable sending responses to customers
- Buy the preferred items with lower prices
- Offer considerable beneficial to wholesales group
- Improve customer experience
Now you come to the end of this post. We hope that it may help you somehow know a new tool for Magento store to keep customers’ shopping experience more fascinating. Especially, with Name Your Price for Magento 2, customers can make negotiation for lower prices for their desired products. This functional module motivates customers’ purchase and increases the conversion rate for online stores effectively.