Want to find out ways to increase your Magento sites average order value? Of course you do! Luckily for you we have provided three fantastic ways you can encourage customers to spend more money on your products and services.
Upselling and cross selling
Two of the best selling techniques to increase your average order value are upselling and cross selling. If a customer has put an item in their shopping cart, it is clear that they are in the mood to make a purchase, providing you with the perfect opportunity to see if you can tempt them into buying an additional product or products!
The first technique, upselling, is when you suggest a more expensive version of the product that the customer has placed in their shopping cart. To do this, you will need to explain why the product is worth the extra money, perhaps by highlight it’s key features or displaying customer reviews. The second method for increasing average order value is cross selling. This is where you suggest an item or items that are related to the product the customer has put in their shopping cart. For example, say they had bought a pair of designer sunglasses from your ecommerce store. You could try to increase the average order value by cross selling a case for their sunglasses or a lens cleaning product.
It is recommended that you implement upselling and cross selling features on the checkout page, as this is where customers are most likely to engage with them. There are a number of modules that can make upselling and cross selling on the checkout page easy, including the One Step Checkout extension.
Increase your average order value by bundling products together.
Offering product bundles
Another fantastic way to increase your Magento websites average order value is to offer product bundles. This is where you group products together to make it quick and easy for customers to buy all of the products they need. Bundling products together and pricing them as one can also make customers feel like they are getting a better deal.
Product bundles work particularly well for Magento websites selling electronics. For example, if you were selling a gaming computer, you could bundle it with a selection of games and a special gaming mouse to entice customers and increase your average order value. This technique also works really well for fashion websites. You may have noticed that many fashion ecommerce websites now have an option for you to ‘shop the look.’ This is where you can purchase an entire outfit, including the accessories, as a bundle. By offering bundles of products like this, you will improve your Magento sites user experience and help to increase its average order value.
Customers are much more likely to spend their money on your products and services if they feel like they are getting something for free. A great way to increase customers’ average order value is to offer free shipping when they spend over a specific amount of money on your products. By offering free shipping, customers are much more likely to want to spend the extra money.
Offering your customers incentives like free shipping is a great way to increase their average order value.
Alternatively you could consider setting up a customer loyalty scheme. Every time your customer makes a purchase from your Magento store, you could send them loyalty points that can be collected and put towards the cost of future purchases. By offering incentives you can almost guarantee that customers will return to your Magento store to make additional purchases with their loyalty points.
Whilst it is important to find ways to increase your Magento sites conversion rate, it is equally as important to pay attention to its average order value. Selling to existing customers is cheaper than selling to new customers, so it makes sense to focus your efforts on increasing the amount of money they spend on your products and services.