The Automatic Update the WooCommerce Product Price post addressed configuring a single WooCommerce Product to auto adjust price values when your Dhru Fusion provider adjusts their unlock service prices.
The WooCommerce Product would need to have the “Remote Service” Product category selected and have the “Auto Adjust Price” enabled for “Global” under the “Product data” section in order for these price updates to happen.
It was explained that the price adjustment was not dependent upon whether you were using StockUnlocks Basic or the Pro upgrade of the plugin. However, manual re-importing of unlock services is necessary when using StockUnlocks Basic.
In contrast, StockUnlocks Pro users can receive scheduled price updates that take place in the background.
The Auto Adjust Price Feature: StockUnlocks Pro
Today we’re going to discuss a feature that is exclusive to the StockUnlocks Pro upgrade. We will focus on the “Global Setting” found in “StockUnlocks > Plugin Options: Product Sync Schedule ; Price Adjustment Option”. The settings found here will only have an affect on any WooCommerce Product that has the “Auto Adjust Price” set to “Global” in the drop-down list selection found in its “Product data” section.
Ok, let’s assume that you have your specific WooCommerce Products configured for the “Auto Adjust Price”. The drop-down list is selected to “Global” as required. If you need to see how to do this, please refer to the Automatic Update the WooCommerce Product Price post for details.
How to Configure the Automatic Price Updating
Here’s how to make the changes that will affect all prices at once or best described as “globally”:
StockUnlocks Plugin Options:
Here is where the selection is made to determine how often the StockUnlocks plugin will connect with your Dhru Fusion unlock provider to synchronize the unlock service prices.
Select the desired time frame from the drop-down list. Here’s the explanation you will find here:
Automatic Price Updating: This setting controls how often StockUnlocks will automatically synchronize your imported Products with your Provider.
When set to ‘- Auto Sync Disabled -‘, prices for imported Products WILL NOT automatically adjust when your Provider updates their price(s).
You need to also enable the settings in the ‘Price Adjustment Option’ section below OR enable the ‘Auto Adjust Price’ setting on the individual Product.
Price Adjustment Options
Once you’ve made your time frame selection:
Here, you will find the following explanation:
GLOBAL SETTING: When enabled, StockUnlocks will adjust the Product Regular price when your Provider’s prices change.
StockUnlocks Pro: Price updating occurs automatically, based on the ‘Product Sync Schedule’ above.
StockUnlocks Basic: Product Services need to be manually imported again in order for prices to be updated.
Step 4: To enable the automatic Price Adjustment Option by selecting “Enabled” in the drop-down list selector.
Directly below the drop-down list selector, you will find several text boxes that will determine the final price values when your Dhru Fusion provider adjusts their prices.
These selections should cover most unlock price change scenarios:
- When source credit is more than or equal to _ , multiply my price by _
- When source credit is less than or equal to _ , multiply my price by _
- Default: multiply my price by _ when the settings above do not apply.
Auto Adjust Price Multipliers Explained
At first glance, it may be difficult when trying to figure out what values to enter here. Maybe an example might be helpful:
The following unlock service price values and price multipliers are hypothetical and are being used for example purposes only.
Suppose you’re purchasing an unlock service from your Dhru Fusion supplier that costs you $25.00, what price will you charge on your website?
If your Dhru Fusion supplier is charging you $25 for a service and you want to add $15 to that, then set your multiplier to 1.6 for that service. Now you’re charging your customers $40.
So, that goes to say, if your supplier is charging you $1 for different unlock service and you set the multiplier to the same 1.6, then you’re only charging your customers $1.60.
For the $1 service, your may want to set the multiplier to 3.5, to charge your customers $3.50.
Now, imagine if you set that $25 unlock service to a multiplier of 3 or 4. Would you really want to charge your customers $75 – $100 for a $25 service? We’ll leave that final answer to you 😉
Using the $25 and $1 unlock service price along with the 1.6 and 3.5 price multiplier from the above example, here is what our settings in the “Price Adjustment Option” would look like:
- When source credit is more than or equal to 25 , multiply my price by 1.6
- When source credit is less than or equal to 1 , multiply my price by 3.5
- Default: multiply my price by 1.8 when the settings above do not apply.
To Wrap it all Up
There is no single best price multiplier setting. Although you can set these price multiplier values to whatever you’d like, it’s probably better to examine your individual prices. That will help you set a reasonable price multiplier.
We think that the StockUnlocks Pro plugin auto price adjustment is very flexible. The Dhru Fusion’s GSM server does not yet automatically do this. Many direct source suppliers have requested the auto price adjustment to be implemented. Maybe the next software update might include it.
Do you think that the StockUnlocks Price Adjustment Option takes care of your needs as you sell unlock codes with your online business?
Before you go, let us know what can be done to improve what we’re doing!