How to Set Custom WordPress Website Pricing

You may be thinking about creating a subscription-based website in the near future, in which case, you have several options. There are plenty of free and open-source tools that can help you get the basic structure of a subscription website set up, but to really make it shine, you’re going to need to build the foundation yourself. In this tutorial, we will discuss the steps necessary to create a custom pricing plan for your WordPress website.

Step one: Choose your plan.

No matter which subscription-based plan you select, you’re going to need to start by choosing an initial price. This price will be the baseline or anchor point from which you’ll determine the cost of each individual subscription. You can choose a price that you think is fair, or use a price-tracking tool like WooCommerce to find the average price of similar plans at different discount levels.

For example, if you were to use WooCommerce, you could type in the name of a similar subscription-based website, found under Shop category, Product sub-cat, and then click on the ‘Get pricing’ button.

Step two: Add a voucher.

Now that you have a rough idea of the price you’re going to use, it’s time to add a discount coupon or voucher to the equation. If you’re using WooCommerce, a voucher is just a code that can be entered during checkout that will give you a discount on your subscription fee. You can find vendors that offer vouchers for new customers or those that don’t have an active account, and you can create a special coupon code for your own website.

Step three: Adjust the plan as needed.

Depending on your needs, you may need to make some adjustments to your subscription plan. Are you wondering how much room you have to grow? Or perhaps you’re worried about reaching your target audience? Once you have a sample client that signed up for your plan, you can use their data to determine how much you need to raise or lower the price. Just make sure that you don’t go below zero – if you do, customers may complain that the price is already too low and there’s no point in signing up. Similarly, you don’t want to go too far above the initial price either – there’s no point in offering a discount if it’s already close to being free!

Step four: Display the new pricing.

Once you’ve finalized the pricing, it’s time to display it to your customers. You can do this either by changing the existing price on your website’s pricing page, or by creating a special link to the new plan under the “Pricing” menu item on your website’s home page. If you already use a tool such as WooCommerce to manage your pricing, you can easily create a special link to the new pricing plan from within the dashboard.

The great thing about this approach is that it allows you to keep your existing customers while also attracting new customers who might benefit from your new offer. If you’ve ever tried to convince someone to try your product or service after hearing your price, you know that lowering your prices can encourage more people to try your products. In other words, you might just get more customers by offering a discount!

Step five: Measure the success of your new effort.

The final step in the process is to measure the success of your new pricing plan. This step is critical – you don’t want to set a new pricing plan, lose a few customers, and then completely ignore it. To measure the success of the new pricing strategy, you’re going to want to look at a few different metrics.

The first thing you’re going to want to check is your sales. Did your customers go somewhere else after hearing your prices? Depending on the type of product you sell, this might be the only place your customers are going – but that’s a lot to assume! For instance, did your customers try out a product you’re affiliated with and like enough to recommend it? If so, this could indicate that your pricing was a factor in their decision-making process.

When it comes to subscription services, you’re not going to have any sales for a while – the first few customers are going to decide whether or not to subscribe based on your price. So it’s important to begin measuring the success of your new strategy as soon as possible. Even if you don’t have any sales at the moment, you can start by setting a goal to get at least one sale per week. Once you’ve established that, you can determine whether or not you need to alter your strategy based on the results.

While this approach may seem expensive, the amount of time and effort saved in the long run makes it more than worth it – especially if you do this right.