Looking at the current online shopping trends and considering the types of customers and businesses buying products from e-commerce sites, offering customized pricing to them can be a great way to increase commerce sales. You can attract more customers and increase your business revenue by providing discounts and personalized prices on your products or collections.
If you’re running a Shopify e-commerce store, you can easily customize pricing for your customers. With a third-party app, setting up custom pricing on Shopify is easy. You can create different types of discounts and special offers based on customer groups, such as new customers or returning customers. You can also set up different levels of discount tiers depending on how much a buyer purchases from you. In this article, we’ll discuss what is custom pricing, its benefits, and how to set up custom pricing on Shopify.
What is custom pricing?
Custom pricing is a type of pricing strategy where businesses offer different prices to different customers. For instance, you can offer discounts to loyal customers or members of your customer loyalty program. You can also use custom pricing to increase demand for certain products or promote seasonal items.
What are the benefits of using custom pricing?
Using custom pricing on Shopify allows businesses to make more sales and increase their profits. Here are some benefits of offering custom pricing on the Shopify store:
- It increases the chance that customers will purchase more items since they can get discounts on certain items.
- It allows businesses to adjust prices based on customer demand and seasonality.
- It encourages customers to become loyal customers by offering a special discount to them.
- Custom pricing can also help you position your products in the market at affordable rates and further conduct Shopify marketing activities.
How do you set up custom pricing in Shopify? (Steps)
Setting up custom pricing on Shopify is easy with the help of third-party apps. Here’s how you can set up custom pricing:
Step 1: Choose a third-party app like Wholesale Pricing Discount that offers custom pricing features. There are several different options available, so make sure you choose one that meets your needs.
Step 2: Set up the custom pricing rules in the app and determine which customers you want to offer discounts or special prices to. You can do this by adding a customer and assigning them a specific ‘tag’ in your Shopify store Admin > Customers. You can also embed a custom registration form if your custom pricing app offers such a feature.
Step 3: Create different tiers of discount depending on how much a customer purchases from your store.
Step 4: Configure the app so that it automatically applies the discount when customers reach certain thresholds, such as a certain amount of money spent or the number of items purchased.
Step 5: Once you’ve set up everything, test out the custom pricing rules to make sure everything is working correctly and then launch it for all customers on your Shopify store.
BONUS Step: Promote your new custom pricing rules using email campaigns, social media ads, and other promotional methods. You can also include the rules in your website’s product pages so that customers know about the discounts they will receive from you.
By setting up custom pricing on Shopify, businesses can increase their sales and profits. With the right tools and strategies, you can make sure that your customers get the best deals while you maximize revenue for your business.
Conclusion
Offering custom pricing on Shopify can help you customize your product pricing and help them sell quickly to earn more revenue and add more products to your inventory. The right app for custom pricing can help you set up the discounts quickly and efficiently, making it easier to create and manage different tiers of discounts. With this method, businesses can offer better deals to their customers while still making a profit.
If you haven’t already implemented custom pricing on your Shopify store, now is the perfect time to start! You don’t have to be an expert in e-commerce to take advantage of this powerful tool – all you need is the right app and strategy. Once you get started with custom pricing on Shopify, you’ll soon see the benefits that it brings to your business.
