Average order value(AOV) matters and so does the conversion rate!

With many online users an E-commerce store allows you to promote and sell your digital and other kinds of products. But it nowhere assures you a big buck or a big sale without extra effort. You must understand your audience spread the word about your product and strategize to increase your AOV.

Conversion rate is a key performance indicator that plays a role in evaluating average order value. Many digital businesses pick metrics like conversion rates and oversee AOV while marketing. Just like your conversion rate the average order value is critical for data-driven businesses as it allows them to learn about the rise in their revenue. It brings insights into the average sum of money spent on every order your online business gets. Eventually it helps you plan and strategize for the areas that need a boost. You can see your revenue skyrocketing.

For every business increased revenue is one of the objectives. And this adds to the importance of understanding and creating effective strategies to increase AOV. As we want our readers to thrive we will dedicate this post to helping you. Keep reading it till the end!

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Cross-selling and Up-selling

You can describe cross-selling as presenting a product or item your visitor is interested in but is not the same as what your audience is looking for. Up-sell is when you promote the purchase of additional products. For instance you run an online boutique and have presented a trendy top on sale. You can cross-sell a pair of jeans or skirts. If you deal in online courses and have a visitor for an introductory data science course. While they come visiting for it you can upsell advanced data science courses too. Fortunately for SamCart users this feature is already present for them. If you are planning to avail of SamCart for your eCommerce site you can include upselling in your package.

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Showcasing Personalized Product Recommendations

Personalized product recommendation is a method that allows a site to present unique product recommendations for every visitor depending on their profile and behaviors. This practice can fasten the process of buying and increase conversion rates. It can positively boost your customers' interest and make them invest in more products than they were looking for. This will eventually help you increase your average order value.

Make the Checkout an Easy Process

Regardless of the online sales channel you choose to allure your visitors you can’t miss out on providing a simplified checkout process. Your checkout method can also play a part in your conversion rate. Like single-page multiple-page checkout can offer a simple layout while saving the checkout times of your customers. Buyers can also shop through the easy checkout option which will eventually impact their experience with you. If you have been using SamCart you must leverage the Multi-option checkout option. You can also avail of the One-Touch purchases feature by SamCart and let your visitors turn into shoppers easily.

Keep Testing

Also called split testing the process of A/B testing includes the comparison of different versions of your website along with conversion rate to figure out the most practical one. The concept over here revolves around eliminating the pain points of consumers. Every time you try to smoothen the shopping process you boost the likelihood of conversion. If you are wondering how to increase your conversion rate A/B testing is a must-do.

Like other features mentioned above you can also find A/B testing in SamCart. If you need any design and development changes there are many other metrics that can also come in handy.

Add Bundles

Another way to increase your AOV is to create bundles for your eCommerce store. This technique can go well as it makes them put less effort while purchasing more. The science behind it is that your consumers expect and get a discount which motivates them to spend more. It can make it easy for them to find everything in just one place. Visitors turned customers can find their time saved in conducting research about related products. If you use SamCart you can find it handy in adding bundles too.

Relationship Between AOV and Conversion Rate

Conversion rate AOV and marketing can any business leave these terms behind? Of course it is a big NO! But why and how are they related? Let us consider a situation where if you boost your margins to a state where you can lessen your shipping cost you will eventually have higher rates of conversions. By opting for any of the above-stated methods and making products aware of other products in your store it is possible to convert them. If they were unsatisfied with the products on that specific landing page bringing other products to their notice can lower the bounce rate by keeping them connected to your site.

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The Bottom Line

Average order value can help to track the money spent every time a consumer orders from an online shopping platform. It has undoubtedly become one of the essential metrics for business owners as it allows them to learn about the necessary insights which can impact their pricing and marketing measures. Increase your average order value to increase the buck you make with every transaction. The role of conversion is no less as it can increase revenue with every visitor get more customers and expand your business. You learned the difference between visitors who want to purchase your products and those who do not.

Now the question of how to increase your conversion rate and AOV is a must. In this post we have walked you through a few strategies to boost your average order value and conversions.

We have also informed you about SamCart an eCommerce platform that can increase your AOV and bring many other perks. From crafting specific landing pages for your store to optimizing your revenue these are many. You can take a look at the features it offers for clarity.