Increase your average order value! (AOV) 📈 - The Ecom Growth Newsletter #43

The Early Checkout

The Ecom Growth Newsletter #43

Unlock unlimited customer acquisition by Increasing your average order value! (AOV)

One of the most significant challenges most brands face is having the ability to profitably acquire unlimited customers on the front end at break-even or better.

Famous direct marketer Dan Kennedy once said…

“Ultimately, the business that can spend the most to acquire a customer wins.”

In this issue, we will discuss 15 highly actionable ideas you or your team can use to get the AOV where you want it… High as possible!

Let’s get into this issue…

Shopify’s new NFT features called “Tokengated Commerce”(Click Here)

3 Up-and-coming Mobile Shopping Experiences (Click Here)

Shopify’s Mobile Commerce Shopping Trends To Look Out For In 2023 (Click Here)

Second-Hand Goods eCommerce Market Forcast Growth (Click Here)

B2B eCommerce in the US: A Trillion-Dollar Market (Click Here)

Amazon Pay Later

Monthly payments option from e-commerce giant Amazon.

Amazon's pay later program has launched in India (Click Here)

Source Link: (Click Here)

Sezzle

"Buy now, pay later" installment payment solution for eCommerce websites.

See how you can set up Sezzel for your brand (Click Here)

Source Link: (Click Here)

Here are 15 ideas to increase your AOV today!

Let's jump into it…

1. Understand & Track Current AOV: Whatever you track will grow. Use this simple process to export & track your AOV with ease.

Go to your Shopify Dashboard.

Click Orders & Export Data.

Shopify will email your data.

Open up TECO AOV tracker (Click Here)

Now go to File > Make A Copy (to make it editable for yourself.)

Open up the spreadsheet Shopify sent you.

Copy your totals. (Total Purchases)

Paste it in "Purchase Price Export."

Boom, now you have your AOV.

You can now duplicate that sheet each month and repeat the process to keep a closer eye on your AOV.

Now we know what our AOV is, let's look at practical ideas to Increase it.

2. Cross-Selling: What's the next logical product for your customer to buy? Sell them that! If you just sold them shoes, try cross-selling them socks in your thanks you page, recommended section, emails, and ads.

3. Bundling: Take your best-selling products and bundle them into an irresistible offer. You can also include digital products to increase perceived value, such as checklists, calculators and courses/training material on how to use your products.

4. Upselling: Sell them the next variation of your product or a higher-end version.

One-Time Offers: You can access this exclusive deal for the next three days. Once it's gone, it's gone. It's always a good idea to have a reason for the offer.

Example "Wharehouse Clearout Sale"

5. Bulk Buying: The more they buy, the more they will save.

Example "Buy five or more and save 10% Off Your Entire Order"

6. Low-Cost Add-Ons: Think upselling packaging, gift wrapping etc.

Example: "Would you like this gift wrapped for $4.99?"

7. Free Shipping Threshold: This is a classic but a goody… Your customer will get free or expedited shipping once they hit your order threshold.

Example "Spend $100 and get FREE Two-Day Shipping"

8. Product Recommendations: Similar to an upsell, you can recommend products for other people in your customer's life, such as friends and family members.

Example: "Your order is almost complete… Would you like to buy an additional lamp for your mom or sister? It's 35% Off For A Limited Time Only."

9. Gift Cards: Once they have purchased a gift card, they are locked in to spend with you.

Going into the holiday season, you want to make your gift card readily available. For example, you could put up a link in your Navi bar or footer for easy access. In addition, you could offer a 10% discount on gift cards to Incentivise your customer to buy more.

10. Free Gift: Spend x and get this gift for free.

11. Donation Threshold: Spend x, and we will donate x.

12. Story & Causes: People love to feel good, so you can help them achieve this by purchasing your product for a good cause.

You can use creative and copy to sell the story of supporting your cause.

13. Coupons: They work... Here are a few for you to consider:

• Percent-off coupons

• Flat dollar amount

• Free shipping coupon

• Free gift with purchase

• Promo codes based on loyalty status

• BOGO coupons

• Automatic coupons

• Gift card with purchase

14. Buy Now Pay Later: Services such as Affirm, Afterpay & Sezzle give your customers additional payment terms and options.

15. Limited Drops: Fear of missing out (FOMO) is a big motivator. A limited edition or limited run of a product that sells out will increase your AOV significantly. People will buy more because they don't want to miss out on it, and the pack mentality takes over.

Snap your brand to new customer acquisition!

Snapchat Is giving away $375 for any new advertiser who joins them and spends more than $350 in the next 30 days! If you are not familiar with Snapchat, here are some stats for you:

• Snapchat Has 332 Million Daily Active Users Worldwide.

• The App Ranks as the 12th Most Popular Social Media Platform Worldwide.

• It's Reported That an Average of 5+ Billion Snaps Are Created Daily.

Spend $350, get $375! 😮

Create your Snapchat advertising account to access this offer today! (Click Here)

Today's email was written & edited by: Zachry J. Radford

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P.S. I hope you have a great day! ♥

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