Pricing your products correctly is one of the most important things you can do for your business. But with so many different ways to set prices in Trakker, how do you know which one is right for you?
Trakker offers several pricing options, including:
- Default Pricing
- Price Codes 1-36
- Volume Discount Pricing
- Customer-Specific Pricing
- Customer-Specific Volume Discount Pricing
Before you start setting prices, take a moment to think about a simple and structured approach. Many businesses struggle with pricing because they add rules randomly over time. A year later, they find it difficult to understand or explain their pricing strategy. If a new employee takes over, they might have no idea how pricing works.
To avoid confusion, follow the KISS rule: “Keep It Simple, Smart!”
Step 1: Start with Default Pricing
Your Default Price should be the standard price that applies to at least 80% of your customers. The more customers you can fit into a single pricing structure, the easier it will be for your sales team and office staff to manage.
Step 2: Use Volume Discount Pricing When Needed
Many businesses offer volume discounts to encourage customers to buy more. With Volume Discount Pricing, you can set different price levels based on the quantity a customer buys.
For example:
- 1 – 5 units → $15.95 each
- 6 – 10 units → $14.95 each
- 11 – 30 units → $13.95 each
- 31+ units → $12.95 each
This type of pricing helps reward customers who buy in bulk while keeping your pricing structured. (learn more about Product Pricing rules )
Step 3: Organize Special Pricing with Price Codes
If you need to offer special pricing for certain groups of customers, Price Codes 1-36 help keep things organized. Instead of setting random pricing rules for each customer, group them into clear and predefined categories.
Here’s a simple way to divide Price Codes into categories:
| Price Code Range | Category | Purpose |
| 1-5 | Subscription Customers | Members who get discounts based on their subscription level (e.g., Basic, Premium). |
| 6-10 | Multi-Year Contracts | Customers with long-term agreements (e.g., 5-year, 10-year contracts). |
| 11-20 | Negotiated Rates | Special pricing for large businesses or enterprise customers. |
| 21-25 | Industry-Specific Pricing | Prices tailored for specific industries. |
| 26-30 | Promotions & Campaigns | Temporary discounts for special promotions or Introductory offer |
| 31-36 | Legacy Pricing | Old pricing that will eventually be phased out. |
By pre-defining price categories, you create a clear system that makes it easier to manage future pricing updates.
More Tips for Special Pricing
- Negotiated Rates: If you negotiate pricing for large customers, like Starbucks, or McDonalds that have many locations but one set of prices, this is perfect. Even beyond that, try to use the same price code for multiple companies. For example, instead of making a unique price rule for every business, set a “large enterprise” price code that multiple companies can use.
- Promotions & Campaigns: Use specific price codes for new customer promotions that last for a limited time before switching to regular pricing.
- Legacy Pricing: Once old pricing is no longer needed, you can repurpose these codes for future pricing categories. NOTE: I like to keep the legacy pricing in the HIGH numbers (31+) because that can help really stand out and prevent anyone from accidently assigning new customers to them and keep them on the radar for price change discussions that may need to take place.
Step 4: Use Customer-Specific Pricing Only When Necessary
Sometimes, you’ll have a customer who needs special pricing that doesn’t fit into a standard Price Code. In that case, you can set up Customer-Specific Pricing for them.
If that customer also buys in bulk, you can take it a step further with Customer-Specific Volume Pricing, which works the same way as Volume Discount Pricing but is customized just for them.
Keep in mind that the more customer-specific pricing you create, the harder it is to manage. Try to limit its use whenever possible.
Final Thoughts
By following these best practices, you can keep your pricing strategy simple, clear, and easy to maintain:
- Use Default Pricing for most customers.
- Set up Volume Discount Pricing to encourage bulk purchases.
- Organize special pricing with Price Codes instead of random price rules.
- Only use Customer-Specific Pricing when absolutely necessary.
A well-structured pricing strategy will save you time, reduce errors, and make it easier to train new employees. As your business grows, maintaining a clear system will help you stay organized and competitive.
By setting up your pricing correctly from the start, you’ll be able to manage it effortlessly as your business expands.