If you sell wholesale or B2B on Shopify, you must know how imperative it is to set up and offer personalized discounts to your B2B or wholesale customers. Unlike individual consumers, your B2B customers expect significant savings when they place orders in large quantities, and offering customized pricing can meet these expectations and encourage more substantial purchases for your store.
Implementing personalized discounts enables you to custom create your pricing for different customers depending on different parameters like their buying patterns and volumes. This customization can make your B2B ecommerce store more attractive and competitive thus leading to higher customer retention.
In this article below we will understand what personalized discounts are exactly, the importance of setting them up in your Shopify, and at last, we will cover one of the quickest and easiest ways to implement them in your store. So let’s start!
What are personalized discounts in Shopify?
Personalized discounts in Shopify are custom pricing strategies that are made for individual customers or specific groups of customers based on their purchasing behavior and needs.
Unlike standard discounts that apply uniformly to all buyers, personalized discounts are designed to offer special rates to select customers, encouraging them to make larger or more frequent purchases. Personalized discounts are generally helpful for stores that sell wholesale or B2B on Shopify.
Personalized discounts can be created for customers with different parameters like the tags that you have set up on them, their login status, and more. Moreover, you can set different types of personalized discounts like volume discounts, tiered pricing, percentage or fixed price off, and more.
Benefits of setting up personalized discounts in your Shopify store
Now that we know what personalized discounts in Shopify are, let us look at their importance and the benefits they have once you implement them in your Shopify store.
- Higher Average Order Value and increased sales
By offering discounts based on purchase volumes or specific customer segments, you can encourage customers to buy more in order to qualify for the discount. By this customers tend to add more products to their purchase and thus ultimately leading to higher order values for your store. - Better Inventory Management
Personalized discounts can help you manage your inventory super efficiently. For example, you can offer discounts on overstocked items to specific customer groups, helping to clear out excess inventory while providing value to your customers. - Increased Customer Loyalty
Offering personalized discounts makes customers feel valued. When customers receive discounts that are specifically tailored to them, the chances of them returning to your store for future purchases increase. - Better marketing opportunities
Personalized discounts can be a powerful tool in your advertising efforts. Promoting these exclusive offers in your ads can attract new customers who are looking for special deals. - Increased Word-of-Mouth Referrals
Customers who feel they are receiving personalized and exclusive discounts are more likely to share their experience with others. This can lead to increased organic traffic on your store which could ultimately result in more revenue generated.
Steps to set up personalized discounts on your Shopify store
Let us now finally look at the quick steps that you can take to set up and offer personalized discounts on your Shopify store.
- Login to your Shopify store with admin credentials.
- Head on to the search bar on the top of your screen and then search for ‘Wholesale Pricing Discount B2B’. Then click on ‘Search Wholesale Pricing Discount in Shopify app store’. You should see something similar to the below screenshot.
- Install the ‘Wholesale Pricing Disocunt B2B’ app on your store.
- And Bingo! Using the Wholesale Pricing Discount app you can create different types of personalized discounts based on various customer parameters. You can create these discounts to apply on specific products and collections.
Moreover, once you install the app, you will be able to create discounts based on volume, percentage off, set tiered pricing, and more.
Conclusion
Setting up and offering personalized discounts in Shopify is necessary for B2B and wholesale businesses. By crafting pricing strategies to meet the unique needs and purchasing behaviors of your customers, you can massively increase the average order values of your store. Implementing these discounts helps massively in effective inventory management and also fosters customer loyalty, higher conversion rates, and better marketing opportunities.
With apps like Wholesale Pricing Discount B2B, setting up personalized discounts becomes a seamless process. Using the app you can create customized discounts for different customer segments, and also create a more attractive and competitive store that encourages repeat business and word-of-mouth referrals. This approach helps you boost your sales and also strengthens your relationships with your customers, ensuring long-term success for your Shopify store.
