Adding pricing to your bundle enables you to easily charge your students. Different types of pricing types can be added to a bundle. Each pricing type is designed to enable you to run your teaching business effectively with a broad global reach.
LearnDesk enables you to add one or more pricing types to your Bundle:
- One-Time Payment: The One-Time Payment pricing is used when you want to charge a one-time cost to the student.
- Subscription: Subscription pricing is used for recurring payments for bundles. For example, you are selling a set of mathematics assessments, which you update every year and also charge for them every year. Using Subscription pricing you can easily set this up. Subscription pricing enables teachers to improve the predictability of payments. By enabling automatic recurring payments, teachers can get paid as per a set schedule without having to wait for checks to be collected and cashed, or having to deal with cash. Subscription pricing can substantially increase the lifetime value of their customers.
- Payment-Plan: Payment-Plan pricing can be used for higher-priced bundles, which enable the buyer to pay the larger amounts as smaller parts over some time.
How to Add Pricing
Once you have created your bundle and added the basic information, and items in the bundle, it's time to set the pricing. To edit the pricing for a bundle that you have already created, navigate to the list of Bundles for your School, click on the bundle that you want to edit, and then click on the "Pricing" tab:
- Adding at least one pricing type for a bundle is required - One-Time Payment, Subscription, or Payment Plan.
- The teacher can add pricing type as a combination of One-Time Payment, Subscription, and Payment Plan.
- Teachers are required to set the first pricing of your bundle in USD. Subsequently, pricing, using any pricing type, can be in other currencies.
- The minimum price that you can set for a bundle is USD 3.0 or its equivalent in other currencies.
Following are the fields that you would be required to complete while adding prices:
- Currency: Select the currency in which you want to set the price. It is required to set the first pricing of your bundle in USD. You can offer prices in other currencies by changing the currency and choosing from over 60 supported currencies.
Price: Set the price at which the student will buy the bundle. The below image shows how the "Price" shows on the sales page of the bundle.
- Multiple License Price: This field helps offer attractive pricing to users such as schools or organizations that require more than one license. Set the price offered for the purchase of more than one copy of the bundle. The value has to be less than the 'Price' value.
Compare at Price (optional): Set the original price of the bundle, which is higher than the 'Price'. This enables you to show a discount you are offering on the sales page of the bundle. The below image shows how the "Compare at Price" is used to show a discount on the sales page of the bundle.
Billing Interval: This field specifies how often you want to charge the student. Applicable only for Pricing Type 'Subscription' and 'Payment Plan'. The below image shows how the "Billing Interval" shows on the sales page of the bundle.
Number of Payments: This field specifies how often you want to charge the student. Applicable only for Pricing Type 'Payment Plan'. The below image shows how the "Number of Payments" shows on the sales page of the bundle.
Access Period: This field specifies the duration of access to the bundle. Applicable only for Pricing Type 'One-Time Payment' and 'Payment Plan'.
- Trial Period (optional): This field allows you to offer a promotional access period for your bundle. Applicable only for Pricing Type 'Subscription' and 'Payment Plan'.
- Refund Policy (optional): This field allows you to set the refund policy for your bundle.
Select the "Currency", and input the "Price" and "Compare at Price". Next, click on the "Add Pricing" button. You can prices in different currencies by changing the currency.
The pricing should show in the Pricing table of the bundle. If additional details such as 'Access Period' or 'Refund Policy' are specified, indicative icons will reflect with the Pricing Type.
Multiple Prices Per Bundle
Teachers have to ability to define multiple prices. Teachers can achieve that by combining one or more of the pricing types which include Subscription, One-Time Payment, and Payment Plan. This can be further enhanced by offering the same bundle at different prices in different currencies.
Adding multiple prices for a bundle offers flexibility to the student. This increases conversion rates and revenue for the teachers.
Students can choose from one of the multiple pricing options during checkout.
Multiple Prices Per Bundle - Billing Intervals
For Subscription and Payment-Plan pricing types, you can set prices per billing interval. For example, you can set yearly, monthly, and weekly Subscription prices for the same bundle.
Following is how the pricing with multiple billing intervals for a specific currency will show on the sales page.
The order of display of the billing intervals can be changed using the sort handle. For example, you want to show the monthly pricing as the first option, followed by a fortnight and then weekly. To do so, click on the drag handle for the respective pricing and move it up or down.
Teachers can specify prices in over 60 currencies, including USD ($), EUR (€), GBP (£), AUD, INR (₹), and more. The sales page of the bundle checks the location (country) of the user and displays the pricing in the respective currency. This automatic currency-to-country matching makes it easy to capture international revenue by enabling students to pay in their local currency. It also decreases the cost for the student by preventing currency conversion charges from being applied by their bank/credit card.
To take advantage of Currency-based pricing, the teacher needs to add pricing in each of the respective currencies. We recommend teachers use currency conversion software like xe.com to come up with prices for all supported currencies.
Students are automatically shown the prices set for their local currencies. As an example, a student in the US will be shown prices in USD on the sales page.
However, a student for the same class in Canada will be shown the prices that are set in CAD on the sales page.
Automatic Currency Conversion
For the supported currencies, LearnDesk automatically converts the price of the bundle to the local currency if the price of the bundle is not specified for the given country/currency. This automatic conversion is applicable only for the One-Time Payment pricing type. For Subscription and Payment-Plan pricing types the student will be shown the pricing in USD, unless specified for the given country/currency, as shown in the above image.
For example, if the student is located in Canada, and the price for the class is set in CAD, the student will be shown the price for the bundle in CAD. Compared, if the price of the bundle is not set in CAD, and a student from Canada visits the sales page of the bundle, they will see the following prices:
- One-Time Payment: They will be shown the EUR equivalent of the USD One-Time Payment pricing.
- Subscription: They will be shown the USD Subscription pricing of the bundle.
- Payment Plan: They will be shown the USD Payment Plan pricing of the bundle.
If the currency is not among the list of supported currencies, the student will be shown the pricing in USD on the sales page.
You should continue to save the pricing, as you keep making changes. The "Save" button is located on the bottom right of the screen. You can also save using the keyboard combination CTRL+S on Windows and ⌘+S on Mac, as shown below:
You can preview the changes made to the pricing tab by clicking on the "Preview" button. Preview enables you to view the sales page of the bundle and the pricing information from the student's perspective. The pricing will be shown as per your current location. Currently, it is not possible to view the prices in other currencies in preview mode. For example, if you are located in India, you will be able to see the pricing only in INR for your bundle, in the preview mode.
The "Preview" button is located on the bottom right of the screen.