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Offer a Discount at an Order Amount Threshold
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Best Tactics to BoostAverage Order Value
Average Order Value (AOV) is one of the most important metrics ineCommerce, being directly correlated to your revenue and profitability.
In order to increase the latter, one option is to boost AOV values to higherlevels by optimizing your current set-up.
As opposed to other alternatives, AOV optimization helps you work
smarter, not harder, to achieve revenue growth.
Here are some of the best tactics to boost AOV.
People are usually drawn to offers.
Set a minimum order amount that makes more sensefor your business and offer your visitors an incentive tospend that much. These types of discounts can also be used incombination with follow-ups to abandoned carts or unfinished orders.
Repeat customers tend to spend more with each neworder because they already trust your products and services.
Consider sending email reminders or coupons tocurrent customers who have been away from yourwebsite or track previous purchases of top spendingcustomers and make targeted recommendations fornew products and services.
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Ordering in bulk can be perceived as a risky moveby many buyers who associate higher potentialloss to such purchases.
Reframe this potential loss into the savings obtainedby increasing their order quantity/value.
Not only do bundles save the customer money, butthey also make the purchasing process easier and faster.
Companies in nearly every industry areusing bundling these days.
Cross-sell a Lower-Value Product on Thank-You Page
By offering free shipping at a certain threshold,customers will be motivated to reach that threshold.
Customers want to spend their money on actualproducts, not on shipping.
What about SaaS?
You can increase AOV by letting (potential) customerstrial higher-service tiers. How to do this? Sometimes it’s all about messaging and cart optimization. Other times it can simply be a design issue and the clarity with which you present your offer.
SaaS is flexible, so take advantage of this.
Provide Cashbacks
By providing a cashback upon each purchase, youessentially incentivize customers to do a repeat purchase in order to redeem it. You can set minimum order values that must be metfor the cashback to be eligible for redemption.
Cashbacks work in a similar manner as loyalty programs do.
Market to Repeat Customers
Offer Bundles and Packages
Offer Savings on Bulk Orders
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Try Cross-selling and Upselling
Set a Free Shipping Threshold
Build and Leverage a Loyalty Program
A loyalty program provides customers with anincentive not only to return, but also to spend moreon next purchases. Loyal customers trust and are familiar with yourbrand, so the likelihood of them spending more onrepeat transactions is higher.
Loyalty programs increase AOV by at least 13.71%.
Aim for Localization
If you are selling a high-value product, you shouldtarget countries with high AOV and vice-versa. Regarding payment methods, consider adjusting yourpricing strategy by country/region, depending also onwhich payment methods you accept.
AOV varies by country and by payment method.
Conduct A/B Testing
It’s of the utmost importance to use A/B testing to testthem, as this tool can provide you with valuableinsights into your buyers’ psychology and help youunderstand to which tactic and approach theyrespond better, i.e. in a way that converts.
All these tactics are not to be taken for granted.
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While cross-selling encourages customers to addmore products to the cart, upselling drives them toadd more expensive ones.
Cross-selling and upselling have been used for a longtime to drive more sales in terms of both volume and value.
To offer a truly valuable cross-sell/upsell, you need toembed a personalization approach in your strategy.
Data-driven cross-selling pitched on your Thank Youpage can be even more powerful than traditional cross-selling.
In the latter case, you provide extra value to acustomer who has already committed to buy fromyou and whose data is already stored. Therefore, asecond purchase would become invariably easier tocomplete for both parties.
