At this time hundreds of businesses have rushed to open their online stores considering that there are thousands or even millions of people who have come to this section in the midst of the pandemic, however, not all who open a store have a clear idea of how to improve your results, for example, not many know what to do besides looking for new clients. Did you know that businesses can also help improve the average value of orders that their current buyers generate? This time we will see some tips to promote this aspect for an online store.
According to the specialized platform Shopify, these are the actions that can be taken to increase the average value of the orders that an online store receives:
Create a minimum order limit for people to receive free shipping and other gifts
As a starting point, every online store should know that free shipping of products is the most common, but no less hedgehog way, to encourage customers to spend more.
To calculate the threshold or limit, you can start with the modal order value or the most common values of the orders. For example, if most orders are in the $ 35 range, you can start offering free shipping on orders over $ 50.
According to the source, setting a threshold 30 percent higher than the average order value is recommended. The goal is to make free shipping feel accessible to the greatest number of customers, thereby increasing overall business revenue. If you set a very high limit, there is a risk of more cart abandonment.
A variation of this recommendation is to offer a fixed discount for orders that exceed a certain threshold, for example, a coupon of $ 10 can be offered for orders greater than $ 50, or a 10 percent discount can also be offered for orders greater than that amount.
Bundle or bundle products
If the online store wants customers to buy more items, you can try creating product bundles that cost less than if the same items were purchased individually.
As Shopify explains, grouping products increases the perceived value of customers’ purchase. A great approach to bundling products is to offer a package that creates the all-in-one solution for the desired experience.
For example, assuming you have a store that sells tape supplies, you can combine a stove and accessories, at least the basics to cook a meal. This makes it easier for customers to get what they need in a single interaction, while eliminating the need for further research on products they need.
Customers can also be allowed to create their own packages, this by allowing custom products or packages that allow customers to choose which features or add-ons they want in their order.
Consider upsell and cross-sell with complementary products
These two tactics are some of the best known and oldest that exist to increase the value of orders, not only in an online store, but also at the point of sale. Both of these actions have to do with encouraging customers to purchase additional or improved versions of the products they already intend to purchase.
And like any other tactic, it can experience diminishing returns if overused. However, there are ways to develop the upsell and cross-sell sales strategy, here are some of them:
Don’t upsell too much, recommend like a friend would: This recommendation comes into play because people do not like to feel that they are being sold. This should be given the impression that this is a useful and genuine favor, as if it were a friend suggesting a product. Choose carefully products that perfectly match the item in the visitor’s cart.
Offer low-value upsells to increase the probability of buying: If someone is already going to spend between $ 50 and $ 100 on a purchase, it can be difficult to convince these people to spend an additional $ 100, however it may be more compelling to add a $ 20 product that complements their purchase.
Try after-sales upsells: If the online store is concerned about affecting its conversion rates when testing add-on packages of its products, a low-risk way to test things is by implementing post-sale upsells, for example, with the help of a tool like ReConvert. In that way, the data can be used to find out what products people are buying together. Then it will be possible to put together packages of those same items, the key is in the information.
Establish a loyalty program
Finally, if your online store sells consumer products – that is, those that customers need to buy again after a while, such as razors or shaving cream – consider setting up a loyalty or rewards program.
As the source explains, creating a loyalty program for customers is seen as a retention strategy that helps build relationships with consumers, motivating them to return.
However, it is important to ensure that the loyalty program evolves with consumer preferences. For example, during a global pandemic and impending economic recession, it may not make sense to reward shoppers with unnecessarily generous gifts for spending too much.
On the other hand, when there is an incentive for customers to earn points under the loyalty program, the average order value can be expected to increase considerably. On our site you can find various recommendations to establish a program of this type.