DecoNetwork has some of the most comprehensive pricing and discount settings, which allows businesses to effectively balance the act of managing product pricing while driving sales. Understanding how each of these settings works and interacts with one another can make all the difference in the final price of your products. Below are sections that describe the various types of pricing options and discount types, and how each impacts pricing, including links to resources on how to set them up.
Price Tables
- Overview: Price tables allow you to set tiered product pricing based on quantity ranges and the number of decorated locations in those products.
- Impact on Final Price: The eventual price that a product is sold at can depend on which tier the volume of a customer's order reaches, the type of decoration process chosen, and the number of areas decorated. For example, buying screen-printed products in bulk significantly decreases the per-unit price, thereby offering a lower overall price to the customer. Additionally, discounts can be specified for additional decoration areas.
- How-to Guide: Learn how to set up and manage price tables for each decoration process in the following articles: Printing Price Tables (DTG, SUB, TRF, RHS, DTF, UV), Embroidery Price Tables, and Screen Printing Price Tables.
Contract Price Levels
- Overview: Contract price levels let you apply specific pricing structures to particular clients to foster business relationships with mutually favorable conditions for you and your clients. This is helpful if your company has contracts with certain clients that require special pricing based on negotiated terms. Contract price levels ensure that the price is uniform and cost-predictable for different sets of clients.
- Impact on Final Price: When in use, a contract price level will supersede standard pricing and will make sure that a particular client receives their negotiated rate. Clients can save a significant amount when they have recurring orders.
- How-to Guide: Refer to the Contract Price Levels article for details on how to create contract price levels.
Volume Discounts
- Overview: Volume discounts reward customers by giving them a discount depending on the volume of the product ordered. In this pricing strategy, prices are reduced as order size increases. An example could be where a 5% discount is offered on the order of 50 units, a 10% discount on 100 units, and a 15% discount on 200 units. This not only allows customers to have reduced overall costs but also encourages them to buy more than they perhaps would have.
- Impact on Final Price: The more the customer buys, the more he saves. Discounts will automatically happen upon reaching a certain threshold, and therefore, customers will be able to experience their savings as they increase in size.
- How-to Guide: Please refer to the Volume Discounts article on how to set up volume discounts.
Coupon Codes
- Overview: Coupon codes provide flexibility in giving discounts at checkout. It can be a percent or fixed amount discount and is usually given for promotional campaigns.
- Impact on Final Price: The customer pays the final price after deducting the discount amount from the total price using a coupon code. Hence customer traffic may have great engagement with your store, and the sales could increase within the promotional periods.
- How-to Guide: Learn to create and manage coupon codes by visiting the Coupon Codes article.
Customer Discounts
- Overview: These are personalized discounts, targeting individual customers with the purpose of creating loyalty and repeat business.
- Impact on Final Price: Customer discounts are applied to customer orders so that they can have their custom price, which may be different from the standard rates. This will make the returning customers feel valued, driving higher sales volumes.
- How-to Guide: For information on how to setup customer discounts, see the Edit customer account details article.
Company Discounts
- Overview: Company discounts are for a specific business or organization where pricing can be based on corporate agreements.
- Impact on Final Price: Similar to customer discounts, company discounts directly take a chunk off of the orders that come in from certain entities. This can create very competitive pricing with B2B, making it very enticing for other businesses to want to work with you.
- How-to Guide: For instructions how to set up and apply company discounts, see the Edit Company article.
Interaction Between Discount Types
- One product can have several configurations of discounts applying to the final price at the same time. Here's how they can work together:
- Combination Discounts: The customer may be able to add a coupon code to an existing volume discount for which they already qualify. What that means is, if the customer is buying large quantities and also has a coupon, they get an even greater discount than if they were using just one or the other.
- Hierarchy of Discounts Depending on your configuration: some discounts take precedence over others. For example, product level pricing will take precedence over product group pricing .
- Real-time Updates: real-time updates to the final price are provided dynamically to logged in customers as they modify their orders online - for instance, increase the quantity or apply a coupon - to make all applicable discounts in real time for the best shopping experience.
Empower Your Business
DecoNetwork has different discount configurations that your business can use to its advantage in terms of pricing strategies for significantly driving sales. With the application of price tables, contract price levels, volume discounts, coupon codes, customer discounts, and company discounts, it is possible for businesses to engage customers, ensure loyalty, and maximize profit.
For an implementation with more details of those features, refer to the above mentioned links and utilize the DecoNetwork help center for more advanced configuration.
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