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4 Ways to Increase Your Average Order Value

Getting a customer to buy something is like scoring the winning goal at the end of a long game. Imagine feeling that way over and over again.   IRP Commerce says that by May 2022, the average order from an online store will be worth about $115.45. Even though your number might look a little different, it can grow a lot with the right warranty and shipping partner, leaving your competitors in the dust.   Here are some of our favorite ways to increase your average order value and make more money.  

Ensure that your customers are happy

  Average Order   It's just as important to keep customers as it is to get new ones if you want to raise your AOV (if not more important). How your customer feels about shopping with you is very important if you want them to buy from you again.   Customers want to know that you care about them as people, not just about what they buy.   A study from Motista found that when a customer builds an emotional relationship with a brand, they have a 306% higher lifetime value and spend about $699 with a company each year. This is compared to regular, satisfied customers, who only spend about $275 each year with a company.   So, here are a few things you can do to make customers happy:
  • Focus on customer service: offer live chats, support 24 hours a day, 7 days a week, and quick responses.
  • Personalize it: know your customer in 360 degrees. Through email marketing, you can suggest products, send personalized emails, and keep in touch.
  • Give them more: add useful services like free shipping, product warranties, shipping tracking, shipping protection, and customer loyalty programs to your checkout.

Enhance your customer's experience

  Going back to the last point, customers today want more than just products. They also look for value. The more you have to sell, the more they will buy.   Garanties on products are a good example of this. A study found that 78 percent of online shoppers would spend more if they were offered protection at checkout. This would mean that the average order value (AOV) would go up by 62 percent.   Customers want to know that they are getting the best deal when they buy from you, whether that means free shipping or a safe package. Add to that the fact that extras like product warranties can bring in a little extra money, and you have a win-win situation.   You can easily do this by adding solutions that improve their experience.     Here are some other ways you can make your customer's journey more valuable:
  • Include more than one way to check out, like one-touch payments or a service to pay later.
  • Offer discounts on packages.
  • Make a customer loyalty program.
  • Give discounts or free trials.
  • Add free samples or gifts.
  • Make a gift for their birthday.
  • Put product guarantees in your shopping cart.
  • Include insurance for shipping with their order.

More ways to ship

  Shipping is actually one of the best ways to make their trip more valuable. If you have the money, you could offer free shipping after a certain amount is spent. If you can't offer that yet, there are plenty of other services you can add to your shipping to improve your customers' experience, like shipping tracking or shipping insurance.     Customers can be in charge of their own shipping with these services, which adds value at little or no cost to you.   According to a study, 60.1% of people would buy insurance or a warranty from their online retailers if they could do so at checkout.  

Keep bringing them back

  From payment options to shipping protection, the best thing you can do for your business is to use these apps to make a custom, personalized experience for your customer base.   Apps that make it easy to sell around the world are there to make it easy to get more customers and to protect your customers and shipments. In doing so, they will help drive your AOV.   Source: The Digital Enterprise

Growing Globally

  Running a tried-and-true playbook is one way to increase your AOV, but the best way to do this is to get more customers.   Yes, you should put most of your attention on performance marketing, but shipping worldwide is another surefire way to get more customers. If you already do it, the cost of shipping and the worry that international packages will get lost or broken is a big problem for your customers.     Information from American shoppers can help you figure out how worried your international customers might be about the safety of their packages. According to a C+R Research Study, the average cost of a stolen package in the United States is $136. 43% of Americans have told someone about porch piracy at least once, but 52% are afraid of it when they shop online.

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