Creating Offers in Your Econic Store
Posted by: (August 7, 2021)
This article will show you how to create offers:
- Getting Started
- Step One – The Service
- Positioning your offers
- Step Two – Dynamic Pricing
- Step 3 – Completing the Profile
- Step 4 – Subscription Pricing
- Step 5 – Promoting to Econic Connect
1. Getting Started – setting up your first offer
When you first sign up create one offer. We call them offers because you are “offering” your service at a specific price, over a set time intervals. Econic is focused selling managed services, meaning whatever you do, you sell it through a software subscription to generate annuity income. Here you can set up a recurring payment plan for the service provided.
You will be able to add more offers after the initial set up.
2. Step One – The Service
- Tap on the photo icon and select a picture that relates to your service from your photo gallery
- Enter the name and the retail price
- Add a short description that your customers will understand clearly
- Choose the Deal Type from the drop down list.
3. Positioning of your offer
The system provides you with three positions in the store:
- Blue – Top line in store, you can location specific services here
- Green – Middle line in store, what are the services that generate the most repeat business
- Red– Bottom line in store, you can put your discounted services here
A fourth position, Buy Again, is created by the Econic AI based on previous purchases by the specific buyers. This is our way to automate repeat buying patterns.
4. Step Two – Dynamic Pricing
The price at which a good is sold by our pricing engine depends on the loyalty of the customer and their buying behaviors.
This feature is complemented with surge pricing, where a customer pays more when there is high demand during rush hour for a ride share and less when it’s slow or they are very loyal. The dynamic pricing engine protects your margins and helps you make more money.
This feature is automatically enabled. When you price your offer, it will calculate the minimum and maximum prices and show you. We strongly suggest you keep this enabled and see what it can do for your business.
Learn more about surge pricing here. Setting up surge requires an additional step.
5. Step Three – Completing the Service Profile
- Select the right Tax Code so we can calculate sales tax correctly. This is a long list, so go through it carefully. This feature automatically calculates your sales tax and determines the type of service (or product) you are offering, so it’s important to get it right for each offer you create. You must do this every time.
- Add the amount of service providers or inventory you have available.
- Add the Time frame you are billing against, or select NA.
6. Step Four – Subscription Pricing
Your business is now powered with the ability to create recurring payments, otherwise known as subscriptions. Subscription payment option and one-time payments are pre-selected. If you don’t touch them, you can create as many payment options as you like, including the ability to get paid all at once.
1-Interval – this is the amount, such as every 1 month or every 3 months. You must re-set this for each new subscription payment option.
2-Time Frame – here you can select week, month or year. You must re-set this for each new subscription payment option.
3- Payment – how much you are charging for this time period. You must re-set this for each new subscription payment option.
When you’ve made all your selections, tap on the Add button and you will see the payment option appear in the screen as above. For each new option, tap Add. Tap in the X to remove an option.
7. Step Five – Promote your service
Econic Connect is the global B2B Marketplace to connect diverse suppliers and workforce to funded projects. As an Econic member, you have access to promote your service to the world.