And how you can use it for your store or webshop
Speaking to your customer on a personal level is important; it makes them feel appreciated and seen. But Personal Pricing goes one step further, it has more to do with the subconscious of the customer. With the information about your customers that you have collected over time, you can use the Personal Pricing module from the Pricing Engine to ensure that you offer exactly what the customer wants, without him or her knowing that he or she wants it. There are many ways to do this, which makes the Personal Pricing module so interesting. Below we discuss the functionalities and show how it can be used by means of a number of examples.
Brief intro about the Personal Pricing module
The Personal Pricing module does what the name implies: it creates personal prices. It is an optional module to automatically offer specific customers or customer groups a customized pricing policy. Price groups can be defined, for example, based on an item group, a particular brand or a specific category.
Actually, the functionalities are endless. You can set the personal prices at many different levels. For example, a customer (group) of your choice has a discount on a specific brand, collection, category or item. This is completely to your liking to regulate. You can also set the period for which the prices apply. For example, give customer group X a 10% discount on category Y for the month of September to October. In addition to the many possibilities of setting personal prices, you can also exclude specific brands, products or categories.
Reports are also part of the functionality: eventually you can generate a nice and clear report with the results, so you can see what works and what doesn’t.
Nice feature for (ACA) XPRT users: this allows you to send pre-selected items in a promotional batch from XPRT in one bulk, so that you do not have to create the selection again in tritonX.
Concrete examples of Personal Pricing
Examples are the best way to show what the possibilities are. Here are some examples of the different functionalities within Personal Pricing.
You’re happy with a specific group of top customers. You owe a large portion of your revenue to them, so you’d like to give them a treat. What better way to do that than to give them access to the sale before it actually starts. That way, they can scoop up the goodies. Set the group, for example a group with customers who have generated more than € 500 turnover. Then set the period they have before the actual sale starts and communicate it!
Collaborations are more popular than ever, especially within retail. Vans is collaborating with Harry Potter, Louis Vuitton with Supreme and even Cheetos with Forever 21. Of course, these are collaborations that are mostly about branding, but they also pursue a goal: bringing in each other’s customers. This is also possible with the Personal Pricing module. For example, by partnering with the local soccer club: every soccer player of ‘SC Almoastgoal’ gets 10% discount on soccer shoes. Or go even further with a ‘Support your club campaign’. From everything a club member buys at your store, 10% is sponsored to the club. Put that club love to the test!
Introduce customers to a loyalty program. For example, by communicating about bronze, silver and gold customers. Does someone rise in loyalty status level? With Personal Pricing you can set up an extra discount that is automatically deducted. The only thing you have to worry about is that it is communicated properly. The Personal Pricing module does the rest!
The employees want something too
Your employees are the driving force behind your business. Without them you are nowhere, so reward them! Besides being your staff, they also become your customers. Give them a nice discount and they will even turn into ambassadors. With Personal Pricing, you can manage this omnichannel, so they get discounts everywhere and you can eventually see in the reports exactly how much your staff buys!
Pricing is always personal!
The great thing: the discount in the above examples is only visible to the customers who can use it. Other customers do not see this, cannot benefit from this and above all: they do not feel disadvantaged. With the Personal Pricing module of tritonX you can arrange it discreetly and efficiently!