Ecommerce store development is a huge competition these days. You should provide unique yet useful products that attract customers’ needs.
Online business and selling products over the internet are not as easy as it seems. If you compare with some theory strategies, there are various tasks to be followed regarding the practical world.
We are starting from website designing, website hosting costs, inhouse maintenance to shipping charges, and more.
Now, here is the question that arises is, how to start making more without much of spending? In short, to increase income or sales?
Here we will discuss eight different ways to enhance your eCommerce development and sales from the Average Order of your maximum order.
When it comes to eCommerce business, the size of your store or size of the business doesn’t matter if you good products to sell.
Let’s see how to calculate the store revenue using a simple formula:
Revenue = number of visitors x conversion rate x average order value
What is the Average Order Value?
An Average Order Value, i.e., AOV, explains the average amount of customers’ purchase from your eCommerce development service.
Hence, for calculating your AOV, Divide the total revenue with the total number of orders you received.
AOV, in general, offers a sign of how much your customers are willing to spend per order in the future while not representative of overall profit margins. And you will come to know how to return you are getting per customer based on the investment.
For example, if your AOV is less, at that point, it’s time to increase your overall numbers.
Optimization is about growing revenue at a top-level, and streamlining is tied in with developing income.
Also, if you need to improve your overall income by more and more sales, you should be expanding your regular orders.
Lets’ dive to see eight different ways to enhance your Ecommerce Order Value.
1. Introduce a Free Shipping Threshold
It may seem unreasonable to provide free shipping as your business in on the developing phase on the initial stage.
But, if we see from the other side, it will eventually go to increase sales. As customers always attract to save some bucks after buying an “X” amount of products.
When you’re attempting to get more cash-flow, you need to add some value to customers’ benefit, and that is “Free Shipping.”
It can be a great method to get clients to spend more. About 79% of US users would be propelled to purchase products with free delivery ideas. (From research by Walker Sands in 2019)
If it does not makes any sense by assisting free shipping to every customer, you can always add some new ideas over it.
Consider presenting free shipping limitations– for example, if a customer buys over rupees 1000 or 1500, they will be eligible for free shipping; this is one way you can play with and earn some bucks.
In this way, you provide users with their mindset of saving bucks and winning your side to urge the purchase of a little more.
2. Offer a Discount
Discounts play a huge role in eCommerce Development Company. Every quarter or after a couple of days, offering a discount is like calling customers virtually to buy from your website.
Utilizing the Special Promotions extension offers you to make discounts like these and some more, making the shopping basket attractive.
It may appear to bit odd or maybe inconvenient by offering discounts every time. But, giving cash off when you need to build a request yet you are providing a markdown can urge customers to buy more than they previously do.
For example, you can add some limitations by giving customers a rupees 200 over buying between 1000 and 1500.
Much like free delivery, this can help you by some extra purchase from customers when you present an edge.
3. Create Product Bundles
Product bundles refer to the products to be sell together.
A few products from a similar category that you can sell together, and it tends to be useful to customers if buys together. In a way, you are selling more than 1 product.
I can see a way here to s build your AOV. Providing a set of products in a bundle will somehow limit the cost, but in the long run, you can urge customers to buy more and hence more profit.
Another way of utilizing packs is to buy one get one free as your potential benefit.
You must have seen such offerings on several products by increasing the 1 product’s price and giving free another one.
It will attract customers to buy and a mindset of getting one more or a correlative free product with specific items.
4. Offer cross-sells to grow average order value
Individuals regularly confuse cross-selling and up-sells. Strategically related products or selling complementary for the lover price terms as a cross-sells.
For example, you can show pictures of products at the end of the section that contrast with the category and the customer may add that to the cart.
The strategy here is to sell more products per request. These help to add effects at the end or at the time checkout.
5. Highlight Savings on Large Orders
Over th monthly sales, you can offer some discounts over a large order. If you are willing to give some deals, it’s consistently an attractive idea to identify how much to offer when customers come to checkout.
It is based on how much of the order they have placed. If you have noticed, there are brands assisting discounts on buying over 2500 rupees.
Note: If you are giving some discounts and adding products to the category, always add a less priceable amount than the one not in the deals. If the main product is 500, additional should be of 100-150. It will help to get that product added without any doubt.
You were adding items to cart, and before you realize, you have more than rupees 2000 worth of products in your cart.
In this way, you are indirectly asking customers to buy more and add to the cart from 2000 to 2500. And on the discounts, they will add necessary products which may exceed over 2500.
Here is the win-win situation for both, and you will get your AOV high with insignificant exertion.
Sometimes, you are willing to spend, and on the other day, you may spend eventually once added to the card and get discounts while reaching specific spending.
Such attractive offers urge customers to buy products and getting discounts, or you can also add some gift vouchers.
6. Offer up-sells
Similar to cross-sell, up-sells should be possible on both product pages and at different focuses during checkout.
Up-selling refers to promoting either more expensive products with additional features or another product that comprises an upgrade.
You can add products at a high price, but at the same time, it should be useful. Products with some extra features always attract customers over the price.
Various brands furnish their products using up-sell with an extraordinary item. On the item page for its rupees 1200 for jeans, different jeans with higher-caliber and more various features are promoted.
7. Offer Gift Cards or Vouchers
While providing gifts to customers is like indirectly asking them to buy the item and enjoy the vouchers.
A simple way to go with vouchers and gift cards are using Magento 2 Edition. It presents with a more attractive way and easy to use.
For instance, you could offer a voucher for rupees 100 on customers’ first purchase, and these 100 rupees will be deducted from their next purchase.
Thus, not exclusively will this lift your AOV, yet it will likewise make the client bound to shop with you again later to take advantage of the arrangement.
It is another way to add some value to AOV. You must ensure that this strategy doesn’t bring a loss. It would help if you were clearer for the gifts and voucher offering on some restricted items or some specific category only.
8. Use Personalization to Your Advantage
Personalization is an important aspect that adds huge value to the customer. We are looking for personalization one or the other way.
Apart from the current trends, it seems to like a product, specially for the individual from huge and not one that you can ignore.
Product recommendations and something like “you can also add a particular item” may attract them and realize to buy one.
For example, you can encourage them to purchase more by recommending things purchased by other customers, which may help them.
As a marketing team, we know the value of personalization offered in online shopping.
For these, you need to go to the past purchased items by a customer. From the pass, data will help to create personalization, and eventually, you can increase your AOV.
Conclusion
In addition to the above, you can also use video to represent new products or related items added to a category to prompt customers directly.
By adding more images and customer reviews for the product will help you get more sales. So, it would be best if you enhanced the customers’ reviews and testimonials.
If you are not getting enough sales, this is the time to review the promotions and strategies to be implemented. Start searching for the missing point and market your products on your online business webpage.
For the same, you must ensure your website’s security so customers feel safe and will come next time and recommend to others. Try some different methods to improve sales. Rather than finding new customers, improve your marketing, and eventually, you will get more customers in less time.
Kaivan Shah is a content marketer at Divine SEO Services with a decade of experience in marketing and strategy who formerly work to boost the traffic. A good reader and practitioner into digital marketing used to describe updated stuff for small-medium organizations and start-ups. With industry experience, he is always ready to help people with online marketing.
Excellent tips on enhancing the eCommerce order value. Thanks for sharing the informative post.