There is an age-old question that everyone marketer and business owner have asked at one time or another, “How can I make more money with my online business?”. While there are a lot of different ways to accomplish that. One way that an e-commerce business can make more money is to increase the average order value. So here are 3 different ways you can help increase your average sale value.
Give The Customer What They Came For
Now I know this sounds a bit obvious but it really comes down to how easy is it to navigate your site? Picture yourself being pressed for time and going into a large store and looking for a tent. However, none of the isles are marked and no one is there to help you find what you are looking for in this mess of merchandise. How long are you going to stay in the store? Probably not long right. And if you do find it what are the chances of you buying something else? Most likely not that high.
Compare that to a store that you walk in where everything is labeled, organized and easy to find. On top of that as you walk in you have someone who can tell you exactly where the isle is, how much it costs and reasons why you should buy it? The chances of you buying go up tremendously.
Make Site Structure a Priority
A site that is easy to navigate, well structured and simple to get information from will naturally convert more customers. On average when someone comes to your site you have 8 seconds to give them a reason to stay. So it is important that you have the following on each page
- Compelling Headlines
- Fast loading site on both mobile and desktop
- Clear Call To Actions
- Videos to Help Sell your product
- Suggested/Similar items close by
- Reviews and Testimonials
Ask For The Upsell
One of the best ways to increase the average sale is to offer those checking out with a one time offer, or an upsell item. This type of concept is not uncommon to stores putting discount items or candies closer to the register at a store. However, most online retailers don’t utilize this type of tactic.
The Power Behind A One Time Offer
Offering your customers a special offer as they checkout is one of the most powerful ways to increase your average order value. It has been used time and time again is has been proven to drastically boost sales, and retain customers. This step can easily be done after they have already completed the check out process. So all they need to do is have a one-click button to add it to their order.
Run Retargeting Ads
In the world of online business Branding and standing out from the competition can be the difference between success and failure. According to studies, only 2% of the visitors that come to your site will purchase on their first visit. So one of the best ways to capitalize on the traffic that comes to your site is to start running retargeting ads.
Retargeting ads allow you to continue to show your companies products to customers long after they have left your site. This can be a great way to keep your brand in front of potential customers and remind them that you have what they are looking for. Users have reported that 3 out of 5 people notice ads of products they previously looked at, causing companies to see a 147% increase in conversion rates when using retargeting ads. Bluntly put…if you are not running retargeting ads you are leaving a ton of money on the table.
Reasons to Use Retargeting Ads
- Increase Brand Awareness
- Improve cost-effectiveness
- Generate More Sales
Benefits of Retargeting By The Numbers
- 147% increase in conversion rates
- Only 2% of visitors take action on the 1st visit
- 26% of retargeted prospects return to complete a purchase