You can convert your one time buyers into lifelong customers by implementing simple average order value to the purchase. Average Order Value is a criterion in e-commerce that is used for the measurement of the average sum spent each time a customer places an order on the app or the site. The AOV can reveal a lot about the business over a particular period of time. The ultimate goal of an E-commerce store owner is to get a maximum number of buyers. The growth of the business can depend on the increase in the average growth rate. There are hacks by which the average order value of a particular store can be increased so that you get the revenues you desire for your store.
You can easily attract more customers to shop more from your e-commerce store by trying the following hacks.
This hack of offering free shipping is a very useful one in increasing the AOV. By getting rid of the shipping cost over a specific amount you can attract a lot of buyers. Many times people cancel placing the order after adding items to the cart because they get to see a high shipping cost which they did not expect or could not afford. Many consumers prefer buying products that offer free shipping with them. Providing free shipping over a specific amount is quite helpful as customers tend to buy more products so that their order is eligible for free shipping.
Loyalty rewards program
If you want your customers to shop again and again from your online store then it is advisable that you offer them loyalty cards that will give the members rewards later on. This will increase their rate of purchasing products from your store. You can offer the customers discounts on their purchase or you may give them some points on each purchase. The more they will purchase from your online store, the more points they will get. They can redeem these points on their future purchase. Try this hack as it works really well.
You can offer some deals or discount coupons for all the customers who are planning to buy products from your online store. There are times when the customers like some items but do not buy because they find it overpriced or cannot afford. The customers will get attracted by seeing discount coupons and they end up shopping all that they wanted from your store. You can offer various coupons depending on the occasion. For example, Christmas discount coupon, Women’s day discount coupon and many such coupons that offer discounts on the name of the occasion. You can offer these discount coupons directly or through some other coupon site.
With this hack, you can sell multiple products at one go. Products that need accessories along with it or similar type of products are easier to sell through bundling. The buyer will get a better deal on buying the products together as compared to the situation when the buyer buys these products separately. This will tempt the customer to buy the whole package. It will increase the amount spent in a single order. So make sure that similar products or the accessories are displayed too when a customer is checking out a particular type of product.
Cross Selling and Up Selling
You can increase your average order value by using the strategies of upselling and. A customer that visits your online store is planning to buy something or the other. By cross-selling, you can suggest more similar looking items to the customer so that the customer gets more options to choose from. By upselling, you can suggest a better or costlier product that is similar to the product the customer was viewing. By suggesting the customer other products similar to the one the customer is looking for, the customer may end up buying one or more products.
Offer Time Limit Deals
You can offer your customer deals that are only applicable to a specific period of time. The deals should be very tempting so that the customer fears losing on this deal or their favourite product running out of stock. These deals are useful in attracting customers who are somewhat busy. You can boost your AOV with the help of this hack. The customers here get what they wanted in a profitable deal. This helps your online store get more sales. Since these deals are time sensitive, the customers will not take a lot of time in placing the order. It is important to campaign about the deal in a way that it reaches the market that is to be targeted.
Offer volume discounts
Offer discount on bulk purchase of products. This can be applied to products that you know will be needed repeatedly like toiletries or household stuff or stationery. Make sure to strike a balance between the discount offered and profit margins.
Giveaway gifts on an average order value
You can set up a product that will be given on minimum purchase value. This way customers will be given an incentive to buy more things to reach the value and avail the gift. Make sure the product you are offering is good enough for people to meet the minimum value. You can also set multiple offers like these. For example on orders above 2000 give away a product worth 100 or 200 and on orders above 3000 or 4000 give away products worth 300-400. This way people having a cart value of 1600 or 1700 will try and make it reach 2000 and similarly with other value offers.
So, that’s all about the tips to increase the average cart value. Use these tips and don’t forget to let us know how well they worked for you, in the comments section below.