The YITH WooCommerce Name Your Price Premium plugin lets you harness market dynamics and customer psychology by allowing users to set their preferred price for products. It’s based on the idea that satisfied customers might want to show appreciation by paying more than the listed price.
For instance, let’s say you’re selling an ebook for $16 but give customers the option to pay extra as a way to support your business, possibly valuing the product’s impact on their lives. Statistics suggest that a percentage of customers might opt to pay more than the listed price, potentially increasing the product’s average sale price.
This plugin operates on a similar principle to sites like Priceline, leveraging the concept of letting users determine what they’re willing to pay for a product to meet their needs.
Key Features:
- Flexible Pricing: Set an open price for simple, variable, and grouped products, allowing customers to name their price.
- Suggested Price: Display a suggested price on the product page to guide customers.
- Price Limits: Establish minimum and maximum prices for products to control the range within which customers can set their price.
- Category Rules: Set rules for open prices based on product categories.
- Customizable Labels: Customize all plugin labels to match your branding and messaging.
- Compatibility: Integrates with YITH WooCommerce Multi Vendor, allowing vendors to set open prices for their products.
- Multi-Language Support: Works seamlessly with WooCommerce Multilingual, ensuring accurate currency conversion for various store currencies.
- Integration with Other Plugins: Integrates with YITH WooCommerce Product Bundles, enabling price flexibility within bundled products.
- Free Product Option: Allows users to obtain the “Name Your Price” product for free, expanding accessibility.
This plugin empowers you to experiment with pricing strategies, engage customers, and potentially increase the average order value by offering them the freedom to determine what they’re willing to pay for your products.