Products

The product list in Rizer CRM includes the name of each product, a product ID and the pricing models associated with each product. In this step, you will create your products, define specific pricing models, and learn how to evolve your products as your pricing strategy changes over time through a simple and intuitive interface. 

Rizer offers various Pricing Models that are used to define how product prices are calculated. The pricing models produce the amounts and dates due for purchasing and paying on a one-time or subscription basis.  

Add a new product

When you click the “ Add product” button the “Add product” modal appears. Here you give a name to the new product and click “Add” to create it inside Rizer CRM.

The newly created product appears at the bottom of the list. It shows up inside Rizer CRM but can’t be added to deals unless a pricing model is set-up.

If you didn’t add a pricing models when you created the product you can add a new pricing model in the Pricing models section. 

When you add a new pricing model you can select: 

  • The pricing model: One-off or Subscription
  • A pricing variable: from the list provided

Depending on the options you select the “Price” will show you if the price is going to be 

  • a fixed amount (in the case of one-offs without a variable)
  • calculated per cycle (in the case of subscriptions) 
  • a unit amount (in the case of one-offs or subscriptions with a variable)

Note: If you select a subscription model based on a variable a new dropdown will appear for the selected variable. The options here are: BeginEndAverageHighest and Lowest. One of these will define the moment the value is selected in the pricing cycle. 

After you set up the pricing model, it will automatically activate for that given product. Using the ellipsis menu at the end of the row, you can make changes to the model by editing it, or you can deactivate it.

When activating a new pricing model products already in the deal cart will not be affected. All products in active deals will keep the old configuration. You have the option to change it individually for each case as needed.

Note: If the account has multiple currencies set-up, you will have to add prices multiplied by the number of currencies enabled. In the example above, the account has 3 currencies enabled. So the same price has to be added 3 times, once for each currency. 

After all this is set-up you can start adding the new products to deals.

Pricing set up

Rizer CRM makes it easy to customize each pricing model to suit your needs. When you add a new pricing model, you can start by selecting your product and the pricing type: Subscription or One-off. While the One-off option is simple and usually just involves setting a price, the subscriptions are more complex and allow you to manage multiple variables grouped into sections.

The main structure of the pricing model consists of:

  • Pricing Model
    • Pricing type – can be One-off or Subscription
    • By unit – Yes or No – let’s you define if the price will be calculated per unit or not. For example, if you are selling a software solution, you can charge a monthly $99 subscription or a monthly $5 / user subscription
    • Pricing variable – The variable used for pricing. This is a list defined by Rizer CRM, that holds 3 types of variables: Permanent, that count up, like number of users, Consumable, that count down, like no. of emails you can send, or Money variables, like annual revenue.
    • Moment – This defined when the variable should be calculated: at the begin or end of the cycle, Rizer should use the lowest or highest value it had during the cycle or should be do an average. For example, think again at the number of users. Should Rizer use the biggest number of users you had during the period or the number of users at the end of the billing cycle.
    • Units – allows you to set the time measurement for billing cycles. For example you can set monthly or yearly cycles depending on your subscription.
  • Price per variable
    • Allow pricing to change – Yes or No – If you select No than prices won’t be editable throughout the subscription term. If you select Yes (floating prices) you can choose if a price change will be auto applied to existing ongoing subscriptions or if someone ha to manually update them.
    • Prices – The actual prices of the subscription that follow the entire set-up you did above.
  • Billing Terms
    • Every – is where you setup how much time a cycle last. For example if you selected Monthly for units, here you can select “every month” or “every 3 months”
    • Bill day based on – Subscription start day or Pre-set day – allows you to set if all your customers will be billed on the same day or if each customer will have a different subscription start date. For the case where all customers have the same start date Rizer CRM prorates the difference in time to calculate partial cycles.
    • Pay begin / end of cycle – Your customer will pay at the beginning of at the end of the cycle. Some subscription are prepaid before hand and some are paid at the end. We allow you to customize this.
    • Subscription term – Revolving or Fixed – for subscriptions that have a fixed term or for subscriptions that continue until cancelled. For the Fixed term ones Rizer allows Auto renewals.
    • Cancellation – for fixed term subscription you can setup if you allow cancellations or not
    • Notice period – in case of a cancellation you can define a notice period of x days or x months where the customer has to notify you beforehand
    • On cancellation, bill – you can choose to bill on cancellation just the current full cycle or the remaining contract value

The pricing variables feature enables businesses to customize their pricing based on industry-specific factors. For instance, a cloud storage service could charge based on storage consumption (a consumable variable), while a project management tool could base its pricing on the number of users (a permanent variable).

The billing cycles and term settings in Rizer CRM offer businesses the flexibility to define the frequency and duration of their subscriptions. For example, a gym membership could be set up with a monthly billing cycle, allowing customers to pay on a recurring basis. Alternatively, a professional certification program could offer an annual subscription with a fixed term, requiring customers to renew after a certain period.

Furthermore, Rizer CRM’s pricing model allows businesses to control how prices are applied and updated throughout the subscription term. For instance, a video streaming service could choose to keep prices fixed during the subscription period, ensuring that customers are not affected by price changes mid-term. Conversely, a software-as-a-service (SaaS) company might opt for floating prices, enabling them to adjust pricing as new features or updates are introduced, while giving customers the option to manually update their subscriptions.

Final note 

You can have multiple pricing models for each product.

For example, you can have a monthly flat fee subscription or a unit-based usage subscription.

Depending on your setup, the system will ask you across the application in the relevant moments what pricing models you would like to use.

This gives you full flexibility in managing how you sell your products. For example in the image above, the Reservation system product has 2 active pricing models. They are both subscriptions but one is set-up for an annual billing cycle while the other is set for a monthly one. 

Adding a product to a deal

When you add the product to the deal cart you will be promoted to select one of the available active pricing models. This can be later changed inside the deal, if needed, by editing pricing for that specific product. 

1st deal cart

The 1st deal cart section allows you to set a default set of products that will be added to each newly created deal.

You can add a product to this 1st deal cart set of products by clicking “+ Product” in the top right corner.

This will open a modal allowing you to select the product from a list.

After you select and add a product, in the list you will see the product name, and the pricing model that were selected.

This list can be edited at any time.