The Pros and Cons With Pricing Solution

03Feb 2023 by Moonthemes 224 Comments

Ever wondered why Amazon changes its product prices or offers discounts so frequently? The ecommerce giant does this to maximize its profits by charging different prices for the same products, based on demand, supply and inventory, and customer behavior.

 
As a WooCommerce store owner, you too can adopt this pricing strategy that goes by the name of dynamic pricing. This pricing approach can bring several benefits to your business, from getting overstocked products off the shelves to boosting the lifetime value of each customer.
YayPricing is a WordPress plugin for your WooCommerce website that makes it simple to offer dynamic pricing and discounts. You can add several types of offers and choose which one to prioritize. Plus, YayPricing lets you create automated discounts, adjust pricing based on customer’s user roles, and more.

yaypricing pricing solution for wordpress

But is YayPricing easy to set up and use? What type of discounts can you create with this plugin? Does it allow you to update and manage existing discounts?

In this hands-on review of YayPricing, I’ll answer these questions and walk you through the process of creating dynamic pricing rules with the plugin.

YayPricing: Overview & Key Features

yaypricing: overview & key features

YayPricing is the top choice for dynamic pricing in WooCommerce, boasting an impressive array of features. Its user-friendly interface and comprehensive capabilities make it simple to establish various pricing and discounts rules. 

You can drag and drop to organize pricing rules, exclude specific cases to prevent discount overlaps, and even run multiple rules at the same time.

Key features:

  • Fixed, percentage, and fixed price discount methods
  • Discount rules applicable to product name, category, price, variation
  • Bulk discounts and Buy One Get One Free deal
  • One-click pricing templates to help you choose our desired roles
  • Display offer descriptions on the product page

Hands-On With YayPricing

In this section, I’ll explain how to set up and use YayPricing on a WooCommerce website.

First, download YayPricing from YayCommerce’s official site. Then, open the plugins section in your WordPress admin and upload the plugin file in .zip format.  Now click Install Now > Activate plugin to deploy YayPricing on your website.

A new menu for YayPricing should now be present in the WooCommerce tab inside WordPress. Click it to start configuring the plugin. 

configuration yaypricing woocommerce plugin

Creating Product Pricing Rules

The first tab—Product Pricing—lets you create rules to adjust the price of items. Adjustments will be made when customers add the items to their cart, but they won’t be reflected on the product page. 

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You can choose from 4 different rules to set for product pricing:

  • Simple adjustment
  • Bulk Pricing
  • BOGO (same product)
  • Buy X get Y
creating product pricing rules in yaypricing

Simple adjustment lets you create basic, non-complicated rules for pricing. Once done, it lets you select product name, variation, categories, tags, price, or specific items that will be affected by this rule. 5 pricing methods are available in this rule: 

  • Fixed discount
  • Percentage discount
  • Fixed fee
  • Percentage fee
  • Flat price

Choose your desired pricing method, then click the Settings method to see checkboxes for:

  • Cart Options: Enabling this shows the tooltip on hover
  • Product Page Options: Enabling this shows offer description in product page
  • Active dates: Enabling this activates schedule
  • Maximum uses: Enabling this limits the number of times the discount can be used

Then from Conditions, you can specify criteria for when the product pricing rules should apply. Here, you get the following options:

  • Cart subtotal price (equal to/less than/greater than)
  • Cart quantity (equal to/less than/greater than)
  • Is logged in customer (logged in/not logged in)
  • Customer role (is in list/not in list, administrator/editor/author, etc.)
  • Customer order count (equal to/less than/greater than)

I chose a percentage discount (20% value) as the pricing method and set the condition that the cart subtotal price needs to be above $150 for the rule to apply.

So if someone adds 4 pieces of a t-shirt worth $75 to their cart, a 20% discount will automatically apply on their order.

creating product pricing rules in yaypricing preview

Configuring Cart Discounts

The second tab in YayPricing is Cart Discounts. This tab lets you set up product pricing rules for just the Cart page. Here, you get three pricing types:

  • Fixed discount
  • Percentage discount
  • Fixed discount per individual cart item
configuring cart discounts in yaypricing

You can also choose to display tooltip on hover, enable schedule, and limit the number of times the discount can be used. Plus, you can set conditions like in the previous tab for when the pricing type should apply. 

I used “Discount On New Year” as the tooltip text and offered a 25% discount percentage on the cart total. Here’s what it looks like on the frontend.

configuring cart discounts in yaypricing preview

Fee Rules

YayPricing also lets you create rules to affect fees that apply at checkout. You can create a fixed discount or percentage discount rule for the following fee types:

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custom & shipping fee rules in yaypricing

The same options and conditions as in the previous two tabs are also available for fee rules. You can show tooltip on hover, enable schedule, etc.

Exclude Rules

Through this tab, you can opt to exempt certain products that you do not want your rule settings to impact.

exclude rules in yaypricing

Settings

In the last tab, you can configure various settings for YayPricing. For instance, you can choose to discount the regular price or sale price. Plus, you can tick checkboxes for showing a sale tag for sale products, combining cart discounts, and/or using discount ID as coupon code.

settings of yaypricing

The Settings is also where you can configure the pricing table, activate countdown timer for discounts, and choose the option to display an encourage notice. Plus, you can import/export rules from or to another store based on your preferences.

settings pricing table in yaypricing

YayPricing Costs

YayPricing is a premium plugin for WooCommerce websites.

Its developer offers three licenses:

  • Single site – $49 yearly or $195 lifetime
  • 3 sites – $99 yearly or $295 lifetime
  • Unlimited sites – $199 yearly or $595 lifetime

Each license comes with a 30-day money-back guarantee, which shows the developer’s confidence in the product

Final Verdict

Dynamic pricing has been a powerful weapon for ecommerce stores for years now. Merchants have been using it to remain competitive and align prices with their goals – without manual monitoring.

With YayPricing, you can easily create dynamic pricing and discount rules to enhance the customer experience and make more sales for your WooCommerce store.

You can even transfer pricing rules between multiple websites. This is an ideal option if you have multiple stores and need to use the same pricing configurations on all of them.

Set up dynamic pricing on your first shop, then import them to other stores This will save you time in configuring the plugin for each site.

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