A Complete Guide to WooCommerce Dynamic Pricing & Discounts

The greater discount, the more you’ll save! Isn’t that more frequently than not the case? To increase sales on the WooCommerce website, all you have to do is use a price management technique or advanced pricing in which you adjust the prices of the products.

Today, I would like to share with you a really amazing plugin that allows you to set your product pricing.

What is WooCommerce dynamic pricing?

YayPricing - WooCommerce Dynamic Pricing And Discounts is a WordPress plugin from YayCommerce that you can use with your WooCommerce-powered website to change WooCommerce pricing, establish numerous pricing and discount rules, and increase sales.

How to set up Dynamic Pricing in WooCommerce

You have a few plugin choices when it comes to implementing WooCommerce dynamic pricing on your website butYayPricing is the simplest plugin to adjust the price for your products. We’ll first go over your options before demonstrating how to set up our suggested solution.

Step 1: Configure your dynamic pricing rules

You can begin creating some basic dynamic pricing rules after installing and activating the Dynamic Pricing With Discount Rules plugin. To proceed, go to your dashboard and choose Product Pricing > Add New Rule:

All of your available selections will be displayed in a new form that will open. First, give your rule a name, then provide a description. Don’t forget to turn on the toggle next to the rule’s name to make it active.

Step 2: Select your Product Pricing

If you want to create some basic dynamic pricing rules, you need to choose one of four categories below: (these adjusted prices will not be shown on the product page ).

• Simple adjustment is made based on the quantity of each particular product because they are only used for single products.
• Bulk pricing: if you want to offer a bulk discount, it is used to select a “Quantity” based discount.
• BOGO ( Buy One Get One) allows you to set up a price rule that is a special present, allowing you to provide free or discounted items to customers who purchase any of the products that come under this rule.
• Buy X Get Y is pretty similar to BOGOF settings, however the discount is applied to the product of your choice rather than the same product.

Step 3: WooCommerce Dynamic Pricing Guide

One such option is including dynamic pricing and discounts, which helps turn frequent visitors into customers rapidly and, ideally, encourage them to make larger purchases.

Types of WooCommerce Dynamic Pricing and Discounts

There are a lot of settings in WooCommerce that control dynamic pricing and discounts. Quantity, purchase history, user roles, customers, a specified time period, and so on may all influence which product bundles and categories qualify for price reductions.

A few of the most popular Advanced Dynamic Pricing plugins for WooCommerce can be found here. Let’s check it out!!!

Buy One Get One Discount

People often take advantage of BOGO deals, which mean “buy one, get one” and mean that when they buy two or more things, they get the third one free.It’s the same as giving deals on goods. Customers are more likely to buy more when they get this kind of deal, which can also raise the average order value.

Dynamic pricing for specific products

With dynamic prices for certain goods, you can give deals on only those products. Setting up deals that change based on the product can make customers feel like they need to act quickly, build customer trust, and boost sales.

Dynamic pricing for specific categories

With dynamic prices for specific groups, you can get deals on shop items that belong to certain categories. Using deals for certain categories in a smart way can give you an edge over your competitors and boost sales. Say you only want to price “Apparel.”

Dynamic pricing based on user roles

You can give different customers different discounts based on their role or status in the WooCommerce platform. This is called “dynamic pricing discounts on user roles.” Discounts based on a user’s role make shopping more special for the customer.

Dynamic pricing based on purchase history

There are discounts based on a customer’s past purchases, which are called dynamic price and discounts based on purchase history. As a result of what each customer has bought in the past, these deals are personalized to their unique wants and tastes.

Customer specific pricing for selected products

With WooCommerce’s Customer Specific Pricing, you can set different prices for different customers or groups of customers based on things like their buying history, demographics, and more. You can then offer special deals, discounts, or even higher prices to certain customers. This creates a more personalized shopping experience for them, which can make them more loyal and boost sales.

How to set Simple Adjustment discount

It’s interesting that all of these pricing guidelines were applied to a single product. For the same product, we do not offer multiple instances or special offers.

There are five ways to set this rule and here are the five pricing methods for your reference. These methods are as follows.

• Fixed Discount: a discount that sets the overall cost of one or more things at a particular amount.
• Percentage Discount: a discount that is expressed as a percentage is known as a percentage discount.
• Fixed Fee: a sum of money that is billed or paid that is fixed regardless of the price.
• Percentage Fee: a fee that must be paid and is depending on the cost’s proportion.
• Flat Price: an amount that is charged or paid and does not change based on the price.

Example: you’re getting this discount 5 USD$ off. When a customer buys 1 product and it will be discounted by $15, it means that he/she only needs to pay $30 (instead of $35)

How to set Bulk pricing discount

Since you can create a single discount rule for all of your best-selling product categories, bulk product discounts save you important time.

There are the same 5 types of tiered pricing methods in this rule: Fixed discount, Percentage discount, Fixed fee, Percentage fee and Flat price.

It’s also for individual items and pricing is not changed when the amount is out of the ranges.

Example: you’re getting this discount: 15 USD$ off. When a customer buys from 1 to 2 products and it will be charged $5, it means that he/she only needs to pay $40 (instead of $35) for fixed fee.

If they buy from 3 to 4 products with a discount 20%, it means that they only need to pay $36 (instead of $45).

How to set BOGO discount

The Buy One Get One Free promotion is a well-known marketing technique used by both online and brick-and-mortar retailers. BOGOs still work, I assure you. A “Free” discount always sends online buyers into a frenzy.

• Buy X Get Y discounts:
• Buy one get one free
• Buy two get one free
• Buy a smartphone and get a free phone case
• Buy a laptop and get a headset at 50% off

Well, a BOGO deal is a good strategy to increase client loyalty and get rid of any remaining stock in your online store.

Example: you’re getting this discount: 15 USD$ off. When a customer buys 2 products and another product will be discounted by $15, it means that he/she only needs to pay $20 (instead of $35) for the same third product.

How to set Buy X get Y discount

This rule is very similar to BOGOF offers for the settings, but the discount applies to a different product of your choice instead of the same product.

You have the ability to override any already established rules by setting a greater priority. You can decide which discount rule should be implemented first, for instance, if you’ve generated several.

Example: you’re getting this discount: 15 USD$ off. Buy X Get Y when a customer buys 2 products and another product will discount $15, it means that he/she only needs to pay $30 (instead of $45) for the third different product.

Have fun setting up gifts.

Over to you

WooCommerce is a terrific option for starting an online business. Additionally, updating your store’s pricing with YayPricing from YayCommerce is quite simple. This article on How to Set Up WooCommerce Dynamic Pricing is crucial, we think you would agree!