Top tips for increasing your Average Order Value (AOV)
Posted on October 9, 2018
Your ecommerce business is up and running, your marketing strategy is reaching your target shopper audience, but you soon notice that nearly all your orders are averaging out to a low overall total. For online shop owners, plateauing revenue and a drop-in sales can be a worry, if this begins to become a monthly trend. However, you may be failing to manage your average order value (AOV), crucial if you are looking to boost your product sales.
Your AOV is the average amount of money that each customer spends during a transaction within your store. To increase this amount, you will need to encourage shoppers to add more items, or to up the number of high-value items that they add to their cart.
There are few easy ways that you can increase your AOV, taking your online store out of the danger zone and seeing your revenue soar.
Add reviews and recommendations
Adding reviews and product recommendations is an easy way to encourage shoppers to browse around your store, rather than simply clicking through to one product or worse, leaving your site. Add product reviews and recommendations to popular items and on the checkout page, a quick way to increase the overall AOV and stop cart abandonment for good.
Do consider the vocabulary that you use for each review that you write. “Customers also bought”, for example, is a great way to drive traffic to other products.
Who doesn’t love a discount? Incentivise your customers to spend a minimum amount, so that they are rewarded with a coupon, free gifts or free shipping. Pop ups or a promotion bar are a quick an easy way to encourage stubborn shoppers to add more to their carts.
Customer loyalty perks and programmes
A loyalty programme is the ideal way to set up a retention strategy, meaning that you create relationships with your customers – in particular if you stock consumable products, that sees shoppers making weekly or monthly repeat purchases. Incentives such as a points scheme, offering shoppers rewards dependent on the total amount that they spend,
If you are struggling to get customers to purchase more items, then creating product bundles will appeal – by setting the total cost at a lower price than if each item was purchased individually. Bundling products together will help to increase the perceived value of a customer’s purchase. You can also tailor bundles for your target demographic, such as creating beauty boxes or allowing shoppers to pick and choose which fashion items they would like in their own bundle. Creating product bundles will increase your AOV, while improving your customers overall shopping experience.
Take time to focus, engage and encourage your customers and those who already know and trust your brand – your shoppers feel like they get more while your AOV gains a boost.
Get in touch
Kelkoo Group has over 20 years’ experience in ecommerce, digital advertising and consumer analytics. We can support your entire campaign, from set up through to tracking sales and conversion data to help you get the results your business needs to succeed.
Contact us today to find out more.