How products and prices work in CrmOne

Created by Abhay Rathore, Modified on Wed, 28 Jun, 2023 at 10:22 AM by Abhay Rathore

Products define what your business offers, whether that’s goods or services. Prices define how much and how often to charge for products.

You can create products and prices in CrmOne, after you create products and prices, you can use them with Checkout Sessions and Quotes.

What is a product?
Products describe the specific goods or services you offer to your customers.

If you’re an e-commerce store selling clothing, one of your products might be a large white
t-shirt. In Stripe, you can create a separate product for each size and color combination.
If you’re a SaaS platform, you might have basic and premium pricing tiers. In this case, both basic and premium are separate products because they typically offer unique attributes or features.
If you’re a donation platform that accepts donations for several different causes, each cause is a different product.

When you create a product you have to provide a name. You can optionally add other attributes, like a description or image.

Multiple products and prices

You can create as many products as you need to represent your product catalog. You can also create multiple prices for each product. Whether you should create multiple products as opposed to multiple prices depends on several factors.
Generally, however, you want create multiple prices for a single product if you’re selling the same item at different price points or in different currencies. For example, if you offer a subscription at monthly and yearly rates, create one product for monthly rate and another for the yearly rate.

Create multiple products if the items require different provisioning or fulfillment in your application. For example, if you have different versions of a product, like different colors or sizes of a t-shirt, you would create a product for each version.

What is Stripe?

Stripe is an online payment processing and credit card processing platform for businesses.

When a customer buys a product online, the funds need to be delivered to the seller; Insert Stripe. Stripe allows safe and efficient processing of funds via credit card or bank and transfers those funds to the sellers account.

Stripes software includes both a payment processing platform, as well as a credit card payment gateway, and both are required in each successful online transaction-- making it the most efficient and simple software to choose for online payments.

How Does It Work?

Stripe has simplified the process of their service for business owners so it's easy to understand and navigate.

Stripe Payment Process:

When you create an account for your business, Stripe software will connect to the purchasing page of your shop platform.
Once a customer is ready to purchase an item or service and ‘checkout’, they will input their financial information in the purchase page.
The information will then be sent from the website, through the Stripe software that will verify that the funds are available (payment gateway) and process the payment before sending it to the merchant account.
Merchant receives funds, and a confirmation of sale is sent to both the buyer and the seller.

Stripe Protects from Fraud

If an error occurs in the payment process (i.e. inadequate funds in the buyer's account) Stripe will reject the transaction and the customer is notified to use a different payment method.

Stripe also monitors for fraudulent transactions and will automatically block any transactions that look suspicious.

Implementing a combination of spending limits and merchant controls on cardholders will help eliminate exposing your business to fraudulent activity.

Create a product
using the products module, you can bring in the products (hardware or software) or services that you offer into the CRM, associate them with your deals, and set the type of pricing.

For example, let's say you sell G. You can add them to your web application, configure the type of pricing (unit or subscription), and associate the products with their respective deals. You can click to get started.

Create a price for the product

To save a product in the Dashboard, you must also add at least one price. You can create

Multiple prices for a product.

To add a price for your product:
First enter the Price that you want to charge to your customer, Currency is selected on the based on the country in the location settings.

Select One time or Recurring. Select a Billing period from options in drop-down what you want for recurring prices. Also an interval count, For example if you wanted a recurring Price that charges every 3 months you select from drop down monthly and interval count 3

You can also set a trial period for your product so that your customers are not charge straight away for the subscription.

Enter a Price description (Optional). Customers don’t see this description.

Click to save the product and price. Click if you want to create another

product and price.

Edit a product
To modify a product, Go to the Products tab. Find the product you want to modify, click on to Edit product.
Make your changes to the product and Click

if you want to disable a product so that it can’t be added to new invoices or subscriptions, you can archive it. If you archive a product, any existing subscriptions that use the product remain active until they’re cancelled. You can’t delete products that have an associated price, but you can archive them.

To archive a product, Go to the Products tab. Find the product you want to Archive and click on to Archive product.
To unarchive a product, Go to the Archived Products and find the product you want to modify, click to Unarchive product.

Delete a product

You can only delete products that have no prices associated with them. Alternatively, you can archive a product.

Add a product from Stripe Store
you can also add products from Stripe Store, to add product from Stripe store click on
select stripe, select one time or recurring, select the product
and click on.