Promotional pricing is a sales strategy used to attract new business. Prices can be made more attractive to customers for a limited time to generate interest in the product, promote more purchases and, in turn, increase demand. Many businesses offer promotional pricing when launching a new product line.
To streamline the management of special pricing in Jim2 ERP software, we have recently developed Promotional Pricing functionality to help businesses easily manage special promotional pricing, plus more customer-specific bid or contract pricing in the system, catering to many different special pricing scenarios.
Whether you have locked in a back-to-school promotion to retail customers, or bid pricing with a vendor for a specific contract, Jim2 Business Engine makes it easy to link special pricing with sales orders, service jobs and customer CardFiles to always capture the right price.
Businesses could offer a 10% discount (or $10 off) to retail customers or, if they buy 10 or more items, they could receive the eleventh item free, or for a six-month period selected stock is available at a set price to a specific customer, in line with an agreed contract.
With the recent development to manage promotional pricing, Jim2 helps businesses to offer promotions that can be targeted:
- to everyone, or different segments of customers, such as specific customer/s, customer group/s, price level/s, or project/s,
- for a special price on a nominated stock record, group of stock, or multiple quantity price breaks,
- for a specific period, which includes start and end date/time, offered only at a specified branch (great for businesses with multiple sites),
- in a specific currency (perfect for those selling overseas in foreign currencies).
Businesses can set up multiple price breaks (and price ranking), add optional promotional purchasing details (including vendor, vendor PO cost), and add commission details like floor cost, percentage and amount, to a promotion in the system.
Here’s a look at a new active promotion in Jim2:
As this feature is so flexible, there is no limit to how many promotions a business can have running in Jim2. A promotion list will show you all promotions in Jim2, which can be filtered by promotion number, date, stock code, stock group, vendor, customer, currency and branch.
For times when more than one promotion is running over the same period, setting up ‘Promo Break’ allows you to run a set of rules to apply to the promotional pricing, and even to tell Jim2 to stop when it reaches a certain promotion rule. For example, you have a promotion for a certain customer and you always want to apply that promotion over other offers, regardless of any other rules.
Customers that have beta tested this new feature found it so much easier to manage special promotions and contract pricing in Jim2.
Once Jim2 Version 4.3 is officially released, Jim2 users will find all the instructions in Jim2 Online Help to set up promotional pricing in you Jim2 Database.
Training is also available to book with our team to step through new functionality, such as Promotional Pricing and Commission Sessions, or existing features in Jim2 Business Engine.