Boosting your average order value (AOV) is a fantastic way to increase your online revenue without necessarily attracting more customers. Here are some effective strategies to consider:
- Offer Product Bundles and Upsells: Create enticing product bundles that combine popular items or offer complementary products at a discounted price when purchased together. This encourages customers to spend more per purchase.
- Introduce Free Shipping Thresholds: Implement a free shipping threshold that incentivises customers to add more items to their cart to qualify for free delivery.
- Strategic Product Placement: Use strategic product placement techniques like showcasing related items alongside a product page or highlighting higher-priced versions as “premium” options.
- Highlight Add-On Products: Promote relevant add-on products that complement the customer’s primary purchase. Limited-Time Promotions: Offer limited-time discounts on higher-value items or bundles to create a sense of urgency and encourage customers to buy more.
- Optimise Your Checkout Process: Streamline the checkout process to ensure it’s user-friendly and reduces cart abandonment.
- Upselling and Cross-Selling: Offer additional products or services related to the customer’s purchase.
- Bundling Products: Create product bundles to encourage larger purchases.
- Free Shipping Offers: Offer free shipping for orders above a certain amount.
- Loyalty Programs: Reward loyal customers with discounts and exclusive offers.
By understanding and applying the ecommerce equation, you can optimise your online store and drive sales.