This plugin hasn’t been updated in over 2 years. It may no longer be maintained or supported and may have compatibility issues when used with more recent versions of WordPress.

Ventata Dynamic pricing woocommerce

Description

This plugin connects your store to your Ventata account.

Maximize your profits with dynamic pricing. Guaranteed.

Each time you sell a product, we slightly adjust the price until we find the price that makes you the most profit.
We do the math. You collect the profits. Get started in under 5 minutes.

Screenshots

Installation

Search for “Ventata” in your wordpress plugin and install and activate plugin. Go to Ventata at the bottom of your main left Admin menu and enter in your Ventata Store API Key.

FAQ

  • I don’t have that many sales, will this still help me?

Absolutely. Ventata is always moving the price closer to the best price. Even if you only received a single order per month, those products will be one order closer to their most profitable price point.

  • What control do I have over my pricing?
  1. You set the cost AND you can set a minimum and maximum price.

  2. We have a hardwired fail-safe in the software that never allows an advertised price to be below the minimum you set. If we calculate that selling below your minimum or above the maximum will make you more money on a product we’ll send you an email.

  3. Our changes are small in comparison to your price. For instance, most $20 items would never be adjusted more than $1 per sale.

  • How does Ventata know how much to increase or decrease a price each time a product is sold?

We use calculus to play the game you played as a kid with “Hot” and “Cold”. We start by taking small steps. If we find we are getting “hotter” we will take larger step towards our goal–more profit. Once we are close the software makes smaller and smaller changes to find the price which maximizes your profit.

  • How does Ventata know which price is the most profitable?

Every time you make a sale Ventata calculates how much profit was made and how long it took to make it. Next it uses a proprietary algorithm to decide the new price. It chooses the price for each product that makes you the most amount of money in the least amount of time.

  • How does Ventata actually work with my store?

Once you sign up with us, our software automatically connects with your site through your ecommerce provider using an API. (An API, is the way two pieces of software communicate.)

Once connected, Ventata uses a 4 step process to increase your profit:

Step 1. Your customer places an order

Step 2. Ventata reads the market and adjusts the price in real-time

Step 3. Your product is updated with the new price

Step 4. Ventata repeats steps to maximize your profit in real-time

  • What is the advantage of setting my price range larger or smaller?

The greater the range you set, the more likely we are to find the price that produces the maximize profit. The advantage of the smaller range is that we can find a better price faster, however, this price may not be the absolute optimum.

  • What type of products work best with Ventata?

While we probably could find the right price for any item, the more an item sells the faster we’ll be able to find the price that produced the most profit. Our Store owners tend to see results the quickest on items selling at least once a week.

  • How secure/reliable are your servers?

Our servers are hosted in the same facilities as Amazon and Netflix’s servers with equivalent uptime, reliability and security. All sensitive data has Department of Defense recommended level of encryption placed on it before it is stored.

  • Won’t my customers be upset if they see the prices changing?

That used to be what businesses thought. In fact, in 2001 Amazon tried a system that changed their price but soon pulled it due to their customer reactions. However, if you have ever left an item in your shopping cart at Amazon recently, you know they are constantly changing prices now. Competitive companies are now realizing that with Ebay, Google Shopping, and the competitive nature of the internet customers are now used to prices changing. Stores that aren’t optimizing their prices are losing out.

Not everyone is happy about change, even when its a good one. The San Francisco Giants started dynamically pricing thier products and some fans did complain but ultimately they increased attendance by 15% and revenues by 30%. More fans got to see the Giants play and the Giants made more money. A win-win.

  • Who Else is Dynamically Pricing?

Gasoline, produce, the airlines and many others have been dynamicly pricing for decades. More recently Amazon.com, Major League Baseball, Ebay, and many others have been increasing their revenues with pricing that changes with demand. We thought is was time that eveyone else got the chance.

Contributors & Developers

“Ventata Dynamic pricing woocommerce” is open source software. The following people have contributed to this plugin.

Changelog

0.2

  • Initial release