With the holidays coming, it’s more important than ever to have your online store marketing updated to keep up with the changing demands of the market and the trends in consumer behavior. If you want to make the most out of this upcoming holiday season, you need to focus on increasing the average order value (AOV) of all orders placed on your site.
But why is it so important to increase your store’s AOV? And what can your AOV tell you? Well, the average order value is a reflection of how consumers engage with your store and product. It can help you determine if your pricing strategy is working, or what needs to change. Setting goals aimed at increasing your AOV will not only lead to an increase in profits, but the strategies you implement can also boost your rate of returning shoppers.
So, how can you increase your AOV? By implementing the 6 Key eCommerce marketing techniques we’ll show you today.
Understanding Consumer Behavior and Latest Trends in the Market
Before you can implement effective online store marketing strategies oriented towards increasing your AOV, you must look at the latest trends in the market and understand the behavior of your consumers.
The latest market trends for consumer behavior in 2021 are:
Knowing all of this, we have compiled a list of tips that you can use to increase the AOV of your orders.
7 Tips to Increase AOV During the Holiday Season
1. Provide Product Recommendations
Personalized product recommendations are an excellent way to increase the AOV of your store orders. A 2019 study by Monetate found that 75.5% of businesses are seeing a positive ROI from personalization efforts.
Implementing add-ons that use consumer browser and purchase history data to offer them products based on their preferences, as Amazon does, goes a long way to increasing the amount of stuff they buy.
2. Upsell Products
Once the client’s order is submitted, it doesn’t mean the game is over. This is where upselling comes in. Shopify has more than a few add-ons designed to increase your average order value by offering upsell opportunities for clients.
Limited time offers for customers that just purchased a product are an excellent way to get them to spend a little more while offering direct upgrades of products they are looking to buy for just a few extra bucks is a way to give them value and increase your AOV.
3. Offer Valuable Add-Ons
An add-on is a product that compliments something else the customer is intending to buy.
For example, if someone is buying an electric razor, they could be offered a charging stand, aftershave lotion, or a set of different razor attachments for their device.
Add-ons can be considered a way of down-selling, the often overlooked brother of upsells and cross-sells. By offering cheaper products that have a connection to the one the customer wants to sell, you have a good chance of increasing the total of their order.
4. Sell the Right Bundle
Selling your products as a bundle is an excellent way to increase the AOV of your orders, as well as offer more value to your customers. Instead of having them buy all the items separately, which they might not be inclined to do, offer them all together for a small discount. You’d be surprised how often that gets them to spend more money.
Examples of good bundles could be travel packs that offer backpacks, drinking bottles, boots, or other travel equipment, or trial packs that give your customer a taste of what your store offers.
Joy Organic has a great example of the latter. They offer customers a “Sampler Pack” that has small portions of their best seller products.
5. Include Trust Badges and Customer Reviews
Trust badges and reviews have become a nifty way to help your shoppers feel safe and secure when shopping through your online store. Having the trust of your consumers is critical as they won’t spend much time on your store otherwise, much less buy anything. The longer they are there, the more likely they’ll be to buy something.
Some of the trust badges you can use to boost your AOV are:
6. Nurture Existing Customers
One area where brands sometimes falter is maintaining the loyalty of their current customers. Your existing customers are just as important, if not more, than new customers. Research by Sasquatch found that loyal customers spend 67% more than new customers.
How do you nurture that relationship? Implement loyalty programs that find ways to reward existing customers or give them more value.
For example, David’s Tea’s Frequent Steepers program gives customers a free 50g of tea for every $100 they spend in a single month.
You could also implement service tiers based on the amount a person shops every month.
7. Provide Live Chat
Having live chat support in your store can increase the engagement of your customers. Online stores can sometimes be a little intimidating for customers as they can feel lost with all the options available, and a lack of guidance.
However, an eCommerce chat support strategy provides customers with someone they can talk to if they need assistance, or even discuss deals. You can even have your chat team reach out to customers proactively to let them know you got their back.
Customers like knowing they can get assistance if needed.
Find the Right Partner to Lighten Your Load
Now you got a clear picture of how to increase the average order value of every order placed in your store. But knowing these online store marketing strategies is not the same as implementing them.
Do you know the latest market trends? Can you use the data from your orders to determine consumer behavior and implement that information in your marketing strategies? These are just a few of the challenges you’ll have to face.
That’s why you need a team of experienced with eCommerce product data management services, like us. That’s why you need Vserve Solution.
Only with Vserve can you get:
Let’s take your eCommerce marketing to the next level. Contact us today.