In this episode, learn how to increase your average order value (AOV) and get more value out of your loyal customers. ---Get a Free Marketing Review ➡️ exposureninja.com/ryt/review/
Whether you're growing an eCommerce store or want to get more people to sign up for a B2B service (ahem, like digital marketing), average order value is one of the most important metrics for any business. How much each customer spends defines your profitability and, to a large extent, your marketing budget.
As the name suggests, average order value is the average amount of money customers spend when shopping in your store or paying for your services. Your average order value is a critical metric for measuring your digital marketing ROI and helps you determine whether you’re maximising your customers’ potential value.
A high average order value puts you in a better position to offset your customer acquisition costs, grow profits and increase your marketing budget to generate more leads.
In other words, high average order value = great.
The challenge, however, is figuring out how to grow your average order value without increasing your marketing spend.
Join us as Head Ninja Tim breaks down 8 tried and proven strategies to increase average order value, complete with real-world examples for each.
⏲ Timestamps
00:00 - Introduction
03:58 - Average Order Value (AOV) Examples
07:45 - Strategies for Increasing Your Average Order Value
07:54 - AOV Strategy #1 Product Bundles
09:56 - AOV Strategy #2 Cross-Selling
11:14 - AOV Strategy #3 Something Free When You Buy X
11:54 - AOV Strategy #4 Threshold Free Shipping or Free Gifts
13:42 - AOV Strategy #5 Loyalty Programme
15:44 - AOV Strategy #6 Upsell at Checkout
16:13 - Quick Explainer on Subscriptions
19:19 - AOV Strategy #7 Premium Options
22:16 - AOV Strategy #8 Memberships
23:49 - Bringing it All Together
🔗 Resources and Featured Sites
Serenata Flowers
www.serenataflowers.com/
Mint Formations
www.mintformations.co.uk/
Tesla
www.tesla.com/en_gb
Nintendo Switch™
www.nintendo.com/switch/
Catipilla
www.catipilla.com/
Boots
www.boots.com/
Currys
www.currys.co.uk/gbuk/index.html
Grammarly
app.grammarly.com/
Ordnance Survey
www.ordnancesurvey.co.uk/
Fabletics
www.fabletics.co.uk/
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