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From the TheGenieLab US - TheGenieLab Blog blog
Top 5 Tricks to Boost your Average Order Value
Prosperity is the ultimate goal of every business beginning. At this point, maths of success appears to be simple, since every rule for managing an enterprise is already examined. But despite a plethora of guide-books, tutorials, and video insights, majority of e-merchants still tend to crash launching a store. Some of them face a rough competition or a difficult niche, but most fail due to a simple organization misdo.
Being fully absorbed by the idea of quick profit merchants often fail to develop a solid trading strategy and go bust as the result. In addition, the enormous level of created market saturation becomes an impassable jungle for the customer, who has to break through a lot of thickets in order to find a credible retailer.
So, how to stand out? How to become a beacon upon the impenetrable e-Commerce sea of competition? Here, we’ll try to describe some most effective tools helping to catch a customer and encourage him to purchase more.
A set of measures aimed at bringing ultimate win-win results - an increase of average order value for you and a satisfaction with a favorable and well-thought-out trading offers for a client.
So, here we go, implement these simple practices and make your store irresistible for shoppers!
- Offer a free shipping
Don’t forget that there are countless web-shops offering clients the same product as you do, and it is only the matter of convenience that they decide on. Free shipping is one of the first things customers look for and get frustrated if it’s not there. So, to avoid such a trading obstacle, ensure your shipping services are free and thoroughly organized.
But how to increase your average check with the help of free shipping? The answer is simple - implement shipping thresholds. If you want your average order value to be 100$, then this amount should be set as minimum price limit for a costless shipping. Thus, you will entice shoppers purchase more than for 100$ to get a free delivery. However, set the pricing bar to the reasonable height, to make sure customers aren’t leaving your store empty handed.
- Time Limited Discounts
A discount is one of the most widespread marketing tools. The prevalence of this technique is caused by its consistent efficiency, and it’d be foolish not to use it. But, since sales haunt customers in every turn, your’s should stand out to be attractive. Create an agiotage around your discounts, offering huge savings for the fixed periods of time. Urge your shoppers with offers like “Get a 40% discount for all coats for next 2 days”. It sounds far more convincing than simply “Get a 40% discount for all coats". Since the possibility of losing immensely spurs client’s motivation, you will skyrocket your AOV (average online value) permitting customers to get most advantageous deals.
Creating bundles is the other marketing method that proves its effectivenes constantly. The concept lies in offering some extra products upon the item client chooses. Forming different sets of related goods and, surely, providing catchy discounts for them. If you sell guns then propose bullets, offering shirts att
ach some ties and so on. Set the regular price for the first item, but present a rebate for the bundled ones to increase your average order value. If your shirt costs 80$ and a tie is 35$, put them together for 100$. Such packages will be beneficial not only for you but also save a lot of time and efforts for a shopper, as you will mix only best suitable things, exempting him from selection difficulties.
This method’s boosting client’s interest by proposing a chance to receive a prize. You create certain lottery for enthusiastic buyers and regulate their odds in accordance with the amount of money they spent in your shop. As an example of gamification, Coca-Cola bestowed gifts for clients with the biggest number of winning bottle lids. McDonald's used to give special stickers in attachment to the meals. Customers could exchange them for “Monopoly” pieces, and the larger dishes they ordered, the more stickers they got.
Many of online stores develop flash games on their sites, presenting clients with an opportunity to win bonus points that can be turned into purchase discounts later. However, the access to the game is given exclusively to customers who had spent a fixed price. It increases owner’s AOV and spikes a general interest in the online shop.
All of these sales promotions tempt shoppers to consume more, and, evidently, each of them works. Based on the experience of market giants e-merchant could easily apply a gripping campaign of his own and immensely increase his current AOV. Don’t forget, however, that in contradistinction of real lotteries, in yours people should actually win.
As we’ve repeatedly noted shoppers are mostly driven by a desire to retrench and providing a web shop’s “Cashback” is the good way to meet it. The bottom line of this option is to provide gift cards or vouchers for those paying a set price. Similarly to the previous technique, you can expand voucher’s value in the wake of rising of customer’s expense. Thus, you can enlarge your AOV, and once aga
in offer users a profitable deal.
As practice shows, each of these methods works great by themselves and reach the crest of efficiency in a tie with others. So, try different combinations in accordance with your needs, don't forget about those old but gold techniques to increase your AOV and bring your store to an imposing level of profitability.
Taras Kopchak is a marketing manager at Cart2Cart, the automated shopping cart migration service, which appears to be an exclusive solution for online businessmen, who are willing to change their platforms with no difficulties and stress. Migrate from Bigcommerce to Shopify, WooCommerce to Magento and within all 69 supported shopping carts.