The recipe for growing your ecommerce business is simple.
Traffic x Conversion Rate x Average Order Value = $$
100 visitors x 0.02 conversion rate x $100 AOV = $200 in sales
Which means, to increase your sales, you simply need to increase any of the levers above.
But simple does NOT mean easy.
Luckily for you, we can help.
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#1. Zipify: One Click Upsell
Every ecommerce marketer worries about their conversion rate. And as much as they want to grow their average order value, they wouldn’t dare risk their conversion rate dropping as a result.
Which is why I’m a big fan of the One Click Upsell Shopify app.
OCU helps you increase your average order value without impacting your conversion rate at all.
That’s because a shopper won’t even see the upsell until after the sale.
The upsell lives on the checkout page, after the payment has already been completed!
From all of their merchants, OCU says that they help merchants make an average of $18.60 per upsell.
#2. Privy: Free Shipping Bar
But the goal is to raise the average order value.
Well here’s the thing…you can actually use free shipping as a way to increase the average order value.
That’s because customers want free shipping so badly that they are actually willing to pay more to get it. Don’t believe me? Check out the millions of people who pay $119/year for Amazon Prime.
With Privy's Free Shipping Bar, you can set a free shipping threshold that is your average order value + 10%. That incentivizes customers to add more products to their cart before checking out.
#3. Bundable: Custom bundles
If customers are already adding an item to their cart, the easiest upsell is more of what they already want.
That's why Bundable makes it simple to add a variety of bundles to your store.
So if you’re selling sports drinks, now you can offer a small discount when a visitor adds 3 cases to their cart instead of one.
Bundles are an easy and proven way to boost your average order value and sell more inventory fast.
#4. Smile.io: Loyalty Program
Building a loyalty program for your Shopify store not only creates loyal customers, it also increases your AOV.
Not only is the average order value higher, but these customers are also 9x more likely to convert.
Smile.io makes creating a loyalty program simple with loyalty points and helps you create a referral program.
By creating a loyalty program, you’re able to turn those one-time buyers into repeat customers and reap the rewards of a higher average order value.
#5. Privy: Cross-sell
Alright, we might have cheated…
But that’s because Privy offers a full suite of tools to help you grow your average order value.
If you have a diverse product catalog filled with complementary goods, you can use cross-sells to suggest other products to your active shoppers.
For example, say you’re running a succulent shop.
Whenever a customer adds a plant to their cart, you can trigger a cross-sell of a pot that goes with the plant.
It’s like having a sales person in your store suggesting products that go with the goods your customers are already interested in.
The formula for success in ecommerce is simple.
Traffic x Conversion Rate x Average Order Value = Sales
That's why a focus on growing your average order value will have such an impact on your business.
Spend time increasing your AOV and you’ll start to see your sales grow.