PriceWaiter automation minimizes the time required to manually manage individual offers as they appear in your dashboard.
By setting up predefined thresholds and rules for individual products, product lines, categories, or brands of products, the PriceWaiter system can automatically negotiate with your visitors and give them a response in real time, increasing the likelihood that the customer completes the transaction immediately.
Setting up automation allows PriceWaiter to increase incremental revenue without requiring active management. To get started, follow these simple steps:
1. Access the automation setup from the settings section of the admin panel:
2. Once there, you'll see a blue toggle that enables or disables your Automation rules. Feel free to toggle your rules OFF while you're setting them up, but don't forget to enable them when you're done.
3. Take a look at the How to Get Started section, and click on Product Sets to get started. Here you'll be able to group sets of products, which you'll then attach to your desired discount thresholds in Step 2, Automation Rules. *Please note: you do not have to enter product data in both columns. You can enter in one OR the other.
- The left-side module requires all the conditions to apply in order for the product(s) to be included. Adding product data (e.g. Brand, Price, SKU, Product Name) will narrow down your product set.
As an example let's say you sell office supplies and you'd like to set offer automation on your pens. You want to include all brands except Mont Blanc, and you want to only include pens between $2-20. This is what your Product Set would look like:
- Alternately, the right-side module allows any of the listed conditions to qualify for automation.
For this example let's say you want to include only a few specific brands, but also not include a brand. It would look something like this:
4. Ok great, you've created a Product Set! Now let's set up the Automation Rules for that Product Set. Select the Product Set from the dropdown menu. The Offer Quantity allows you to set your discount parameters for each Product Set based on the number of products requested by the buyer.
- For example, you could set an automated max discount at 5% off retail price for instances where the buyer is making an offer for one or two units of a product, but set a max discount of 10% when a buyer makes an offer on three or more. You'll see a breakdown of the discount response methods below.
Discount Response Methods
Max discount off retail price - If an offer exceeds the discount percentage for this quantity range, automation will counter with a percentage no greater than the percentage you set. The automated response is tuned to provide a discount that is very likely to convert into a sale, and is within your configured range. Offers under this amount will be auto-accepted.
Fixed discount off retail price - If an offer exceeds the discount for this quantity range, automation will counter at the exact percentage you set. Offers under or at this amount will be auto-accepted.
Maintain profit margin - If an offer exceeds the discount for this quantity range, automation will counter with an offer that does not exceed the profit margin for the specific product.
This response requires your platform integration to provide PriceWaiter with product cost data. Please ensure that Product Data API is configured under Platform Integration in your Settings.
Do not automate - If an offer is made for a quantity of a product outside of your configured ranges, automation will place the offer in your PriceWaiter offer inbox so you can assess each offer individually.
Action: When an offer matches one of your rules, the action tells PriceWaiter to automatically respond for you or flag for manual review. PriceWaiter will determine an optimum sale price to offer the buyer, which will not be below the threshold you enter here.
There are several other Automation settings you can set under the Configurations tab, located in the left hand menu.
- Max Offer Value: set up the maximum value of an offer that the PW system will automatically review. Any offer higher than this value will be sent to your inbox for manual review
- Shipping: Set up automated fees for shipping based on order value. Additionally, set the default shipping method
- Allowed Countries & Exceptions: Setup the geographical boundaries for automation. Any offers from areas outside your predefined bounds will be sent to your inbox for manual management. You can add exceptions (eg. States within a country) for manual review.
- Offer Expiration: Give your shoppers a little extra incentive to check out fast. Our data shows that limiting the eligible time of the discount will increase your conversion rate by 20%.