New Kind of Dynamic Pricing in Public Beta

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This post has 23 Replies | 5 Followers

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Phil Gons (Faithlife) | Forum Activity | Posted: Mon, Dec 21 2020 3:07 PM

I'm excited to announce the public beta of a new feature on Logos.com: in-cart product overlap dynamic pricing!

Many of you are already familiar with dynamic pricing, which automatically adjusts the price of a product you don't own based on its overlap with resources you do own. You might think of this as ownership dynamic pricing or library dynamic pricing.

This new kind of dynamic pricing extends that same concept (of not paying twice for the same resource) to multiple overlapping products you don't own when you add them to your shopping cart at the same time. You might think of this as product overlap dynamic pricing or cart overlap dynamic pricing. This new kind of dynamic pricing treats the product that's the best value as if you owned it when calculating the price of the product that's the second best value, and so on.

The existing ownership dynamic pricing behavior and this new in-cart product overlap dynamic pricing work together, too. So if you own Logos 9 Silver and add Logos 9 Gold and Logos 9 Baptist Gold to your cart together, we'll adjust the prices based on BOTH what you already own AND their overlap with each other.

As I hinted above, we run the logic in the order of the highest bundling discount to the lowest bundling discount, which under most normal circumstances means that you'll pay the lowest possible price. It doesn't matter what order you add the items to your cart. It's based on the sum of the prices of the contained resources divided by the sale price. This means that under most normal circumstances, you don't need to worry about buying products in a particular order to get the best deal. It should just work.

While the main goal is to make it easier to buy overlapping products at the same time, we're releasing this feature to address three specific problems:

  1. Missing Feature Set: Some users are getting into a state where they end up accidentally buying only a Logos 9 library without the corresponding feature upgrade, which creates confusion and requires help from our customer service team to address. This work helped us solve that problem.
  2. Accidentally Double Purchasing Some Resources: Some users occasionally buy overlapping products in the same transaction and effectively pay twice for some resources. We try to catch these and offer a partial refund to the customer, but that's time intensive and subject to human error. This work keeps that from happening in the first place.
  3. Buying Products "in the Right Order": Some users want to make sure to buy products in the right order to get the best deal and make every dollar go as far as possible. While this work doesn't solve every scenario, it does address many and make it much easier to buy overlapping products without worrying about doing it "in the right order." (There are some edge cases that we have some ideas on how to address and may be able to improve in the future. But for most normal scenarios it should just work.)

Because this is a significant new feature and we don't have everything fully dialed yet, we're releasing it as an opt-in public beta to give you the chance to try it and provide feedback on your experience, which will allow us to polish it further before releasing it to everyone.

If you'd like to participate, just follow the Intra-Cart Dynamic Pricing Beta group on Faithlife with the same account you use to shop on Logos.com and then add multiple overlapping products to your cart. If you'd like to turn the feature off, just stop following the group.

In its current state, you'll see a "Price dynamically reduced due to overlap with other items in your cart" message to let you know when you're benefiting from this overlap dynamic pricing. We don't yet tell you (a) by how much or (b) which product in your cart is contributing to the reduction. We'd like to expose more of this detail in the future, but we don't think that's essential for the first iteration since it helps us solve some real problems in its current state.

We'd also like to trigger a message when you remove an item from your cart that was causing the price of another item to be reduced, so you're not surprised when a price goes up. :) That's on our short list of improvements to make in the near future.

There's no indication if a product you're looking at in search or on a product page overlaps with something in your cart. We'd like to add that in the future, but that's a much more expensive improvement that'll have to wait for a version 2 of this feature.

Thanks for helping us test this new feature and providing feedback on your experience. We hope you find it to be a nice improvement to your shopping experience on Logos.com and our other ecommerce websites.

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Bruce Dunning | Forum Activity | Replied: Mon, Dec 21 2020 3:12 PM

This will be a huge improvement to the purchasing process. Thanks for initiating this and for allowing this public beta.

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Posts 985
Kiyah | Forum Activity | Replied: Mon, Dec 21 2020 3:44 PM

This is awesome, Phil! Thanks for doing this and letting us test it out. Kudos to Faithlife for all of the great customer-focused changes you're making.

Posts 167
Dave Colclough | Forum Activity | Replied: Mon, Dec 21 2020 4:38 PM

👍

Posts 2203
Joseph Turner | Forum Activity | Replied: Mon, Dec 21 2020 4:48 PM

This is wonderful news Phil! 

Now if we could just have a return button next to purchases during the 30 return period so that we could return items on the website instead of having to call or chat, then that would be two of my biggest purchasing obstacles solved. 

The last would be paying off payment plans online instead of having to call.

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EastTN | Forum Activity | Replied: Mon, Dec 21 2020 5:42 PM

This sounds really nice.

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David Wanat | Forum Activity | Replied: Mon, Dec 21 2020 6:43 PM

I like it

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DAL | Forum Activity | Replied: Mon, Dec 21 2020 7:58 PM

Awesome 👏 

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abondservant | Forum Activity | Replied: Mon, Dec 21 2020 9:04 PM



Looks like its working just fine :)

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Posts 76
1Cor10:31 | Forum Activity | Replied: Tue, Dec 22 2020 11:31 AM

Phil Gons (Faithlife):

As I hinted above, we run the logic in the order of the highest bundling discount to the lowest bundling discount, which under most normal circumstances means that you'll pay the lowest possible price. 

Thanks a lot, Phil Gons. Much appreciated. I feel like this is a win-win because I don't have to bother the sales rep every time I am thinking of buying multiple packages. The sales rep, in turn, can better use his/her time to generate more business for Faithlife.

I have 2 questions.

1. You mention bundling discount. Is it simply 1 - (Regular Price/Full Collection Value)?

2. To check it out, I added a Starter, a Bronze, 2 SIlver, then a Gold, and then a Platinum package that I am interested in buying. The shopping cart seems to reorder after each item I added. There must be some significance to the ordering of the items in the shopping cart. Could you tell us? Is the one at the bottom the one with the highest bundling discount?

Thanks 

NDD       

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LogosEmployee
Phil Gons (Faithlife) | Forum Activity | Replied: Tue, Dec 22 2020 11:36 AM

NDD:
1. You mention bundling discount. Is it simply 1 - (Regular Price/Full Collection Value)?

Yes. Or, rather, the full collection value (aka the sum of the value of all the parts) divided by the sale price. So, if Silver has a full collection value of $10,000 and we sell it for $1,000, then the bundling discount is 90%.

NDD:
2. To check it out, I added a Starter, a Bronze, 2 Silver, then a Gold, and then a Platinum package that I am interested in buying. The shopping cart seems to reorder after each item I added. There must be some significance to the ordering of the items in the shopping cart. Could you tell us? Is the one at the bottom the one with the highest bundling discount?

The order of the items in the cart should reflect the order you added them to your cart. If you're seeing something different, could you post some screenshots?

The logic order is highest discount to lowest discount, so you'll see prices fluctuate based on what you add to your cart. But you shouldn't see the order of the items change (though we still do remove wholly subsumed items from your cart).

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David Paul | Forum Activity | Replied: Tue, Dec 22 2020 11:54 AM

Good to know, on the outside chance I ever buy anything from FL again. Huh?

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Posts 76
1Cor10:31 | Forum Activity | Replied: Tue, Dec 22 2020 12:30 PM

Phil Gons (Faithlife):

NDD:
1. You mention bundling discount. Is it simply 1 - (Regular Price/Full Collection Value)?

Yes. Or, rather, the full collection value (aka the sum of the value of all the parts) divided by the sale price. So, if Silver has a full collection value of $10,000 and we sell it for $1,000, then the bundling discount is 90%.

Thanks a lot, Phil, for responding promptly. I am wondering if you could clarify between sale price and regular price. For example, the Regular Price of Starter package is $295, but during this release period it is 15% off, so the sale price is $251. I am guessing you are using $251 instead of $295. Which makes a lot of sense. 

By the same logic, the sale price will take academic discount, where applicable, into account, am I right?

Phil Gons (Faithlife):

The order of the items in the cart should reflect the order you added them to your cart. If you're seeing something different, could you post some screenshots?

The logic order is highest discount to lowest discount, so you'll see prices fluctuate based on what you add to your cart. But you shouldn't see the order of the items change (though we still do remove wholly subsumed items from your cart).

   

Posts 2705
mab | Forum Activity | Replied: Tue, Dec 22 2020 2:31 PM

I like this idea very much. I don't mind doing multiple orders to avoid an overlap but having it built into the system is much better.

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SineNomine | Forum Activity | Replied: Tue, Dec 22 2020 5:39 PM

Awesome improvement. I've opted in.

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Angela Meister | Forum Activity | Replied: Wed, Dec 23 2020 1:22 PM

Excellent. Way to go!

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SineNomine | Forum Activity | Replied: Wed, Dec 23 2020 2:46 PM

Hmm... Public Beta starts Monday, strange Dynamic Pricing bug reported today... https://community.logos.com/forums/p/197565/1144673.aspx 

Linking just in case there's a connection.

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LogosEmployee
Nic Hoza | Forum Activity | Replied: Wed, Dec 23 2020 3:03 PM

SineNomine:

Hmm... Public Beta starts Monday, strange Dynamic Pricing bug reported today... https://community.logos.com/forums/p/197565/1144673.aspx 

Linking just in case there's a connection.

No connection.

Posts 5080
SineNomine | Forum Activity | Replied: Wed, Dec 23 2020 6:46 PM

Nic Hoza:

SineNomine:

Hmm... Public Beta starts Monday, strange Dynamic Pricing bug reported today... https://community.logos.com/forums/p/197565/1144673.aspx 

Linking just in case there's a connection.

No connection.

Yes

Posts 985
Kiyah | Forum Activity | Replied: Sun, Dec 27 2020 10:04 AM

It looks like I've run into an issue. For me, Verbum Bronze has everything in it that Ordinariate Bronze has and more. Verbum Bronze costs $16.69. However, when I add them both to my cart, it treats Ordinariate Bronze as the best deal and then reduces the price of Verbum Bronze by just under half. But the total price ends up being $16.77So if I had bought them together I would have paid 8 more cents and gotten no additional resource than if I had bought Verbum Bronze by itself. See below:

Shouldn't the cart have simply removed Ordinariate from my cart with the message that Ordinariate contains resources included in Verbum bronze?

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