Please Sir, could I have some more? It's not just Oliver Twist who needs a little extra in his bowl, Etailers could all do with a little extra in their cart! So, how do we go about boosting those average cart orders (AOV)?
1) Free Shipping Threshold
Shipping is an ecommerce bugbear, the biggest reason for abandoned carts, and often problematic for etailers to manage. However, by offering Free Shipping when a cart reaches a certain amount, you not only encourage more buys but leave the customer feeling like a winner as they haven't had to pay for shipping! Establish your AOV and set the free shipping threshold above - you want to make sure you're not selling yourself short, or making the threshold so high you put off potential customers. According to a Deloitte study, 40% of customers are willing to buy more items if they will qualify for free shipping!
Use Actinic's Shipping Fee Estimation Tool to help your customer's keep an eye on their fees and keep adding to their cart to hit the Free Shipping threshold!
2) Highlight your Best Sellers
A slide-show on your homepage is great for drawing attention to your key products, "We’re really impressed with how effective our slide-show has been: 20% of our products represent 40% of our turnover!" (E. Desportes – Candle Store). Read this Actinic client's full testimonial here.
You can also dedicate a space on the homepage to trending products, your top 10, recommended by other clients, or however you choose to phrase it, drawing attention to your best sellers is a tactic that makes clients want to buy! Don't forget the 80/20 rule that 20% of your products often generate 80% of your income so don't hesitate to use the metrics tool in your Actinic Back Office to find out which these products are and exploit them to your benefit!
3) Product Bundles
Product Bundles or discounts for bulk purchases are an instant win - the customer can immediately see the savings they are making and feel it's worthwhile to buy a little bit more to get the discount! If you put the bundles together carefully you can sell off some of your slow moving goods and expose your customer's to some hidden gems that they might not have considered before. With volume or bulk discounts make sure you work out the discount properly, you don't want to be giving away too much of your profit margin but you also need to keep the offer enticing for your target customers. Find out more about Product Bundles here.
4) Loyalty Programs
Loyalty programs have the added bonus of not only increasing your average order value, but often they also increase purchase frequency! Two birds and all that!
Make sure you put some planning into what kind of loyalty program you're going to offer, for example if you sell heavy duty electrical goods, advertised as lasting a lifetime, it's no good offering a frequent purchase program, you might be better off with a referral scheme. Check out Actinic's Loyalty Programs and Referral Schemes and other marketing tools.
In case you're not sure of how to work out your AOV here's the calculation needed:
AOV = Sum of Revenue Generated / Number of Orders Taken
Now all that's left to do is implement one of the above (don't do them all at the same time, pace yourself!) and process all those large orders you're about to receive!
Create your online store with Actinic and benefit from a cloud based platform that won't go offline when updated, doesn't charge extra for new models, offers a mobile version for FREE and can be integrated with Sage to keep all your business management needs in one place! What are you waiting for, start selling today!
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