Pricing

Adding pricing to your product enables you to easily charge your students. There are different types of pricing types that can be added to a product. Each pricing type is designed to enable you to run your teaching business effectively with a broad global reach.

Pricing Types

LearnDesk enables you to add the following pricing types to your product:

1. One-Time Payment: The One-Time Payment pricing is used when you want to charge one-time cost to the student.
2. Subscription: The Subscription pricing is used for recurring payments for products. For example, you are selling a set of maths assessments, which you update on a yearly basis and also charge for them on yearly basis. 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 cheques to be collected and cashed, or having to deal with cash. Subscription pricing can substantially increase the lifetime value of their customers.
3. Payment-Plan: Payment-Plan pricing can be used for higher-priced products, which enable the buyer to pay the larger amounts as smaller parts over a period of time.
4. Free: The Free pricing type is used by teachers who are setting up a new product, testing the market, and do not want to charge their students. Teachers typically use free pricing to engage their students and help them experience their offerings. This eventually helps the teachers to funnel the students into their paid products.

Edit Pricing

Once you have created your product and added the basic information about your product, it's time to set the pricing for the product. To edit the pricing for a product that you have already created, navigate to the list of Products for your School, click on the product that you want to edit, and then click on the "Pricing" tab.

How to add Pricing

Fields

Following are the fields that you would be required to complete while adding prices:

• Currency: The currency in which you want to set the price.
• Price: The price at which the student will buy the product. The below image shows how the "Price" shows on the sales page of the product.
  
• Compare at Price (optional): Original price for the product. You should typically set this to be 125% of the price. This enables LearnDesk to show a discount you are offering on the sales page of the product. The below image shows how the "Compare at Price" is used to show a discount on the sales page of the product.
  
• Billing Interval: This field is applicable only for pricing of the type Subscription and Payment-Plan. This field specifies how often you want to charge the student. The below image shows how the "Billing Interval" shows on the sales page of the product.
  
• Number of payments: This field is applicable only for pricing of the type Payment-Plan. This field specifies the number of payments you want to receive as part of the Payment-Plan. The below image shows how the "Number of Payments" shows on the sales page of the product.
  
• Access period: This field is applicable only for pricing of the type One-Time Payment and Payment-Plan. This field specifies the time period for which the student will have the ability to download the product file.
  

Requirements

1. It is required to add at least one pricing type for a product - Free, One-Time Payment, Subscription, and Payment Plan.
2. The teacher can add pricing type of Free or the combination of One-Time Payment, Subscription, and Payment Plan.
3. Teachers are required to set the pricing of your product in USD. However, this condition is not applicable if the pricing of the product is Free.
4. The minimum price that you can set for a product is USD $2.50 or its equivalent in other currencies.

Add One-Time Payment Pricing

From the pricing page of the product, select "One-Time Payment" as the pricing type. Select the "Currency", and input the "Price" and "Compare at Price". Next, click on the "Add Pricing" button. You can prices in additional currencies by changing the currency.

The pricing should show in the Prices table of the product.

Add Subscription Pricing

From the pricing page of the product, select "Subscription" as the pricing type. Select the "Billing Interval", select the "Currency", input the "Price" and the "Compare at Price". Next, click on the "Add Pricing" button. You can prices in additional currencies by changing the currency.

The pricing should show in the Prices table of the product.

Add Payment Plan Pricing

From the pricing page of the product, select "Payment Plan" as the pricing type. Select the "Billing Interval", input the "Number of Payments", select the "Currency", input the "Price" and the "Compare at Price". Next, click on the "Add Pricing" button. You can prices in additional currencies by changing the currency.

The pricing should show in the Prices table of the product.

Multiple Prices Per Product

For any product, 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 product at different prices in different currencies.

Adding multiple prices for a product gives the ability to the teacher to let the student pick an option that works for them. This increases conversion rates and revenue for the teachers.

Students can choose from one of the multiple pricing options during checkout.

Multiple Prices Per Product - 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 product.

Following is how the pricing with multiple billing intervals for a specific currency will show on the sales page.

Students can click on the price down to access an option from other billing intervals offered.

The order of display of the billing intervals for a specific currency can be changed using the sort handle. For example, you want to show the yearly pricing as the first option, followed by monthly and then weekly. To do so, click on the drag handle for the respective pricing and move it up or down.

Following is how the updated billing intervals show on the sales page of the product. In the example below, yearly pricing is now showing as the first option that the student can select.

Currency-based Pricing

Teachers can specify prices in 25 currencies, including USD, EUR, GBP, AUD, INR, and more. The sales page of the product 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 product in Australia will be shown the prices that are set in AUD on the sales page. 

Automatic Currency Conversion

For the supported currencies, LearnDesk automatically converts the price of the product to the local currency if the price of the product 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.

For example, if the student is located in Australia, and the price for the product is set in AUD, the student will be shown the price for the product in AUD. As compared to that, if the price of the product is not set in INR (Indian Rupee), and a student from India visits the sales page of the product, they will see the following prices:

1. 1. 1. One-Time Payment: They will be shown the INR equivalent of the USD One-Time Payment pricing.
      2. Subscription: They will be shown the USD Subscription pricing of the product.
      3. Payment Plan: They will be shown the USD Payment Plan pricing of the product.

If the currency is not among the list of supported currencies, the student will be shown the pricing in USD on the sales page.

Save

You should continue to save the pricing, as you keep making changes. The "Save" button is located on the bottom right of the screen.

Preview

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 product 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 product, in the preview mode.

The "Preview" button is located on the bottom right of the screen.

What’s next?

• Submit
• Sales Page