The average order value of your business operates on some pretty simple math. It’s just the average amount that a customer spends in your store. All you have to do to get this number is take your total revenue and divide that by the total number of orders and there you go! Easy!
But how do you get this AOV up? Now that’s where things get tricky, but there are three quick tips that can put you on the road to bumping this number up!
Promote Or Cross-Sell Complementary Products
When you sell something is there anything that goes along with it naturally? Make sure that your website can make recommendations that usefully complement products. If someone is ordering a wireless mouse or keyboard, upsell some batteries along with it! If someone wants to buy shampoo, pair it with conditioner!
Provide Discounts For Minimum Orders
Amazon has already proven just how effective discounts applied to a certain limit can be! Whether it’s offering free shipping for orders that total a specific value, or a discount that does something similar, it’s always a winner. People are willing to spend a little bit more when they realize they can also save a little bit more as well, so take advantage of that reflex!
Implement A Loyalty Program
Another great tactic is to reward customers for buying things! Points awarded for purchases, or free products once a certain number of the same product has been bought—such as toothpaste, or pet food—are all good ways to keep customers interested in coming back to you, specifically, for the things that they want to buy.
The key to increasing your AOV is to make customers want to spend more time on your website compared to others. Be receptive to their needs and reward them for it!