Anybody who promises using Personalized Pricing on WooStore increases profits, is only telling you half the truth.
The real trick lies in identifying different strategies of personalized pricing and implementing them smartly for different customers.
Fortunately, with WISDM Customer Specific Pricing (CSP) plugin for WooCommerce, there’s a plethora of insane tricks and strategies that you can use for dynamically pricing your products.
Hence, in this article, I’ll be sharing 20 awesome ways in which you can use the CSP plugin to set personalized pricing in your WooCommerce Store 🙂
Personalized Pricing Strategies to Boost Customer Loyalty
1. Personalized Shop page with discounted products
I feel elated every time I log into Amazon as it shows me a product catalog page tailored to my needs and even shows special discounted deals.
Similarly, displaying a personalized shop page with a tailored catalog for different customers on your WooCommerce store is a superb trick that you too can implement to make your customers happy.
To generate excitement, you can present special discount deals as well.
With this WooCommerce dynamic pricing strategy in your artillery, you can easily induce a sense of belongingness among different customers leading to a boost in your revenues.
2. User-specific pricing for regular buyers
Customers are elated when they’re offered personalized discounts on purchases. Well, you don’t need to award every customer a special price! Just the ones who are frequent customers on your WooCommerce store.
You could offer a FLAT price or a percentage discount on a specific product they usually buy or on the entire store depending on your preference.
In doing so, you’ll make your customers feel special and rewarded for shopping regularly with you 🙂
3. Category-discounts for customers
Amazon often gives me discounts on their entire electronic section but my friend never seems to receive such discounts.
Later, I realized that Amazon gave category discounts only to those who frequently bought electronic products from them.
Not only did this make me happy but, I felt lured to purchase more products and that’s when it hit me – This indeed is a fantastic trick!
You too can use this dynamic pricing strategy smartly to offer special discounts on specific categories to specific Customers/Users/Roles/Groups, etc. and boost joy among your customers and increase your customer retention.
4. Role-based discounts for members
The buyers on your WooStore may not be the end-users!
You may have different user roles like Wholesalers, Managers, Retailers, etc. who will be purchasing products to sell further down the line to the ultimate consumers.
Now, using a personalized pricing strategy to offer discounts to these User Roles can work wonders for you in terms of revenue and memberships. Let me explain:
For e.g: If you have 3 user roles – Wholesalers, Managers, and Retailers. You can show different discounted prices for a ‘Smart Television’ that you’re selling.
|User Roles||Discounted Price||Original Price|
So, setting personalized offers with discounts and flat prices for different User Roles on your WooStore will attract and encourage more to sign up, thereby increasing your memberships and loyalty.
5. Group-based pricing
I remember Apple giving me a special Student discount on purchasing the Macbook Pro laptop!
By far, the most useful benefit of being a student 😛
Jokes apart, the point is, having different groups/segments of customers in your WooCommerce store and setting different pricing for each of these groups is the key to boost loyalty and sales.
For e.g: If you’re selling iPhone 11, you can offer special pricing or discounts for different groups like Teenagers, Adults, Senior Citizens, etc.
By using this pricing strategy smartly for different products on your WooCommerce store, you too can attract different segments of customers to become regular buyers thereby, boosting customer loyalty.
6. Personalized cart discounts for repeat buyers
I’m addicted to Amazon :/
Likewise, I’m sure you have customers who religiously buy products from your WooCommerce store on a regular basis and are pretty much loyal to your store.
Now, to ensure these repeat buyers stay loyal, you need to make them feel privileged and offer them some sense of belongingness.
To do this, you can set personalized cart discounts offering straight percentage discounts for your repeat buyers to ensure customer retention.
7. Exclusive cart discounts
When you have several different Users/Roles/Groups on your WooStore, sometimes, it’s not feasible to offer Cart Discounts to everybody.
To systematically counter this issue, here’s a personalized pricing trick you can use.
You can exclude certain Users/Roles/Groups from cart discounts and keep offers for selected users only to induce FOMO, boost happiness, and increase satisfaction.
Personalized Pricing Strategies to Increase Sales
8. Cart total discounts for guests
You’ll always have guest buyers coming to your WooStore who may not wish to sign up. They might simply browse through your products, add items in the cart, and leave without purchasing.
But! You can lure your such users by offering them Cart discounts and making them come back to your store.
You can even set special cart discounting rules or offers on the total cart value. For e.g: You can set discounting permutations & combinations of different range values for your Guest Users.
|Min. Cart Value||Max. Cart Value||% Discount|
Implementing this personalized cart discounting strategy on your WooStore can help you go the extra mile and turn your Guest Users into loyal customers.
9. Cart discounts for first-time buyers
Both, first-time users and Existing customers are your most important and valuable customers.
You can always push them for higher purchase orders by using cart offers to lure them smartly.
Similar to discounting rules for Guest Users, you can also create specialized Cart discount rules for your first-time Users and Existing customers in order to provide more value and increase your customer retention.
For e.g: First-time buyers who’ve just signed up on your store and are about to make their very first purchase, for them, as a welcome offer, you can offer them a straight discount on the total cart value.
To push them for a higher purchase order, you can even try different permutation & combinations to set specialized discounting rules and percentages.
|Min. Cart Value||Max. Cart Value||% Discount|
You can use these Cart discounting strategies for existing customers as well to increase your customer loyalty.
Here’s a PRO tip: Always provide higher discounts on larger orders to increase conversions.
10. Store-wide discounts
Don’t you get tired setting discounts for individual products on your store during Christmas or before Summers?
Well, I get darn annoyed!
But, I stumbled upon a trick that helped me save tons of time and energy.
So, whenever the holiday seasons are about to begin, I run an entire store-wide discount on all products or categories for my Customers, Users, Roles, and Groups instead of spending time tagging discounts for each product.
This strategy is a savior! You can also implement this dynamic pricing trick on your WooStore to save time, efforts, and increase sales.
11. Pricing tiers to increase purchase orders
As a store owner, you always want people to leave your store with bags of products, right?
Well, you can encourage people to buy more products from your WooStore by creating pricing slabs and rules for different Users/Roles/Groups.
For e.g: Customer A gets 20% off on buying 2 T-shirts and 50% off on buying 5 T-Shirts whereas,
Customer B gets 10% off on buying 2 T-shirts and 30% off on buying 3 T-shirts.
Similarly, you can set tiered pricing to apply discounts based on quantity for Groups and other customers as well in order to increase bulk purchases and boost revenue.
12. Quantity-based pricing
Wholesale customers usually bring in a lot of money as they purchase in bulk.
If you’ve got wholesalers as customers on your WooStore then you can use this awesome trick to create offers by setting discounts based on Quantities of products.
For e.g: Buy 10 books to get 50% off, buy 15 books and get 70% off!
You can implement this WooCommerce wholesale pricing strategy and push your wholesalers to buy more which helps in selling your products quickly and easily.
13. Different pricing for subcategories
Kindle, at times, offers 10% discounts on books authored by Jeffery Archer and when you scroll through the list of his books, you’ll find some titles discounted at 20%
Usually, when I’m shuffling through different authors, I often end up purchasing at least 1 Jeffery Archer book.
Similarly, you can implement this personalization strategy on your WooCommerce store and create or set different pricing for product categories and subcategories for different Users/Roles/Groups.
For e.g: If you’re selling Furniture on your WooCommerce store, then you can offer a 10% discount on all Furniture (Parent Category) and further offer a separate 20% discount on all Chairs (Child Category).
As a WooStore owner, your focus should be to increase your Customer Lifetime Value (CLTV), and implementing this personalized pricing strategy will definitely help you achieve this goal.
Personalized Pricing Strategies for Persuasion
14. Custom messages on Cart page
This is another wonderful trick I fell prey to while shopping online :/
You can adopt this small yet powerful personalization strategy on your WooStore and display a custom message on your cart page prompting your users to increase their order size in order to avail the discount.
For e.g: ‘Add $50 worth additional products to the cart and avail 15% discount’
Doing this will psychologically move your users to purchase additional products worth $50 in order to get the discount.
Plus, you could also show another custom message after applying the discount to display the amount saved.
15. Exclude latest products from Cart discounts
Too often, when you visit your favorite store, you’ll find yourself in awe of a certain premium product or a new arrival or a limited edition product.
You pick up the product, add it in your cart hoping you’d get some last-minute discounts but soon realize that the product is left out of sale or discount and oh lord, it hurts more than a breakup, doesn’t it?
Now, the next time you visit the store, you find that the product is gone! Someone actually bought it at Book Value.
So, when it comes to your WooCommerce store, you too can use the same trick and leave out certain premium products, product categories, or your high selling products from cart discounts for all users to induce FOMO and urgency among your buyers thereby, pushing customers to make the purchase.
16. Strikethrough original price
As a WooStore owner, ensuring personalization is the key to increase sales and profits.
To give your customers a sense of personalization, you can use a Sales Price Badge for your products and show your customers a strike-through discounted price on the original displayed price.
You can even set a percentage discount on the sale prices of your products.
With this dynamic pricing strategy on your WooStore, you can save time setting prices and add personalization enticing your customers to make the purchase.
17. Highlight Sale pricing
Banking on consumer psychology to sell products works like magic!
You can use this psychological trick coupled with a descriptive custom message to hide regular pricing and show only the Sale Price that you’ve created so that the customer perceives your pricing as personalized pricing.
For e.g: You can show the sale price for a Shirt at $10 and add a custom message ‘This is a special price for you’.
Implementing this trick will trigger consumer psychology forcing the customer to perceive it as personalized pricing thereby, enabling you to sell more and sell quickly.
18. Add special pricing for inquiries
In these challenging times, customers or leads are very hard to get hold of!
On your WooCommerce store, if you’re using a Lead Generation plugin like WISDM Product Enquiry Pro to capture genuine leads through an Inquiry form or Request a Quote option then, you can benefit significantly from its compatibility with the Customer Specific Pricing plugin.
You can use the special or personalized pricing directly while creating quotes thereby, saving you tons of time and efforts of creating new pricing.
With this compatibility, as a WooStore owner, you can successfully capture leads and avoid losing out on potential customers.
19. Special discount on old stock
I often go on a shopping spree usually after the Winter is over since jackets and sweatshirts are available at insanely cheaper rates!
Call me stupid but the jackets help during the next winter 😛
On a similar note, I’m sure, you too will also have old stock to clear off from your WooStore but the already discounted sale price may sometimes not help. In such scenarios, you should further offer more percentage discounts on your Sale price and get rid of the old stock in time.
This is a great personalization strategy to get rid of your old stock. Besides, you’ll always find customers like me waiting for stock clearance sales 🙂
20. Frequently update prices
Keep updating prices often to induce a sense of FoMO. Customers will never know what to expect.
Using Customer Specific Pricing, you can simply open the Search & Delete tab to easily search for an associated product or category prices, select them and Edit/Delete these prices by User, Roles, or Groups in order to simplify price management and quickly update prices – saving you tons of time, effort, and confusion.
Finally, you know the whole Truth 🙂
Using different personalized pricing strategies is the key to increase profits, build customer loyalty, and run a successful WooCommerce store.
With the WISDM Customer Specific Pricing plugin, you will be able to implement all of the above-mentioned personalization pricing strategies in a jiffy with ease and breeze.
If there are any more strategies you think we missed out on, feel free to share in the comments section below 🙂