It’s not uncommon to hear that increasing average order value (AOV) is one of the best ways to improve your online store’s revenue. However, what’s not always clear is how to best achieve that increase.
While there are numerous ways that can be employed to increase your average order value, we outline the top 7 ways that our Partners have used and have raved about. Moreover, we broke down these 7 ways into two categories. The first category comprises 5 approaches, and aims to make the customer experience more valuable. The second category comprises 2 approaches, and ensures that the customers are happy throughout their journey on your store.
Make the customer experience more valuable
Customers want and expect value, and there are a number of ways to deliver on that expectation.
Today’s customers look for more than just products, given the proliferation of options they have at their fingertips. Customers want and expect value, and there are a number of ways to deliver on that expectation. In particular, you can offer:
- Multiple payment options. You can include multiple ways to checkout including one-touch payments or pay later services.
- Free gifts / samples. You can offer free gifts / samples to customers, which can lead to upsell and cross sell opportunities.
- A birthday reward. A nice way to not only make your customers feel special, but also capture their birthday information. In turn, you can use that piece of information to segment your customers for a more personalized experience.
- Shipping incentives. Offering free shipping is also a great option, as many customers have highlighted that shipping costs are their #1 rated deterrent to completing a purchase. However, free shipping can be cost prohibitive, and an alternative is to offer free shipping over a certain amount, such as your average order value.
You can also offer shipping tracking or shipping insurance to further enhance the customer experience. - Personalized offers. You can deliver personalized offers that are curated specifically to each of your customers based on their behaviors. It’s impossible for your customers to not feel like your store was built just for them! The Polymatiks app can help you here, as the app continuously delivers relevant, optimized, and personalized offers to each customer.
Make sure customers are happy
It’s critical to keep your customers happy throughout their journey on your store. This entails delivering:
- Exceptional service, whether it’s through Live chats, 24 /7 Support, or Chatbots; and
- A personalized experience, through product recommendations, offers, and emails / SMS that are personalized to each customer.
The great news is that the Polymatiks app can help you here as well, as it integrates with Klaviyo, the leading email and SMS marketing solution. In particular, it enables you to personalize the email and / or SMS sent to each of your customers by incorporating the specific offers awaiting them on your store’s site.
We’ve covered the top 7 ways to increase your average order value (AOV). Are you ready to see your revenue rise? If so, it’s time to get started on implementing some new changes! Feel free to book a demo with Polymatiks here, or email us at info@polymatiks.ai. We can’t wait to take part in your amazing journey!
