If your store sells products that aren’t very expensive then your average order value (AOV) can tend to be a small amount of money.
This can make spending money on advertising not very profitable. If you are spending $5 to acquire a customer and they only spend $10 that doesn’t leave much profit.
You can increase profits by increasing the amount of money each customer spends on a purchase with these tips.
Increasing your AOV means you can then spend a greater amount to acquire new customers.
Let’s take a look at some ways we can increase the Average Order Amount.
Increase the quantity of products people buy
If you sell something small or consumable this can be a good tactic. Used to great effect by those infomercials you see on TV late at night. ie Buy a set of steak knives and get another 50% off!
Quantity bundles can be created with each higher quantity having a discount. You can bundle products together by having 1, 3 and 6 quantities. The more you buy the more you save!
The quantities depend on what you are selling. So put some thought into which of your products people might want to buy more of at once. Consumable products work great for this type of bundling.
Priority processing for orders
If your store takes a little time to prepare orders for customers you could change more for priority processing.
Charge a small amount of money for ensuring that a customers order will be processed within a certain time period.
This can work well for items that are personalised, customised or products that are made to order.
During busy holiday periods people will pay more to ensure their order goes to the front of the queue.
This can be used for evil though. Don’t abuse your customers trust. If you say the order will leave the same day, or with 24-48 hours make sure you do that.
Priority processing is different from priority shipping. So if you already have faster shipping options make sure you make it clear.
Order Bumps
Order bumps are small things you can add to the checkout to get a customer to spend more on an order.
An order bump can be a higher quantity at a discount or priority processing, like what I’ve already mentioned. Or you can use a cross-sell. A cross-sell is an other product that compliments what the customer has already added to their cart and are about to purchase.
For example if you are selling sunglasses a sunglass case would make a good order bump.
Order bumps should be placed after where the customer enters their credit card details and before the BUY button.
Copy is important here too. Using the sunglasses example you could have a check box with some copy next to it saying “Add a sunglass case to your order for only $5.99”
Again, use this carefully. Only have one order bump per product. Don’t have the checkbox automatically checked.
Make the order bump relevant to what the customer has in their shopping cart.
Small tweaks like this to your store can add a lot to your Average Order Value. Especially effective for stores that selling large quantities of inexpensive products.
Happy Selling.
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