How we increased AOV rate through a few techniques with the help of very beneficial apps.
What is AOV?
AOV, or Average Order Value is the average amount a customer spends per transaction on your store.
It provides the metrics required to evaluate pricing strategy and measure the long term value of individual customers.
An approximate or precise statistics is beneficial in the long run for managing pricing and transactions.
Issues regarding AOV
With the importance of AOV, we had challenges to maintain it which had to be resolved before taking the organization or company’s sales to any further level.
- Cost per acquisition on various sales and media platforms are different and a higher amount of cost per acquisition affected the AOV of individual purchases or products.
Ex: A clothing sold on rupees 400, has a cost per acquisition of 150-200 rupees. This affects the product and the purchase rates.
How did we skyrocketed the AOV?
- Created a strategy to upsell products using a few helpful apps.
Some Apps we used: frequently bought together, honeycomb upsell funnel.
- Frequently bought together app, analyzes browser, search engine and show similar products based on previous purchases which lead to an increased number of products per purchases.
- Honeycomb upsell funnel, helped with cross-sell funnels, it had advanced features like pilot mode which detect offers automatically based on user behaviour.
- Manual offers were added with the same app.
- Used funnels on thankyou pages, blog posts and post purchases which even makes the work easier for customers.
We offered deals like combo offers and cashback for the customers on existing products.
- This leads to a 2x increase in AOV
- With the help of tools, scaling strategies and management of pricing, maintaining AOV has been very easy and has been advantageous for sales as well as the growth of the clients.
- We’ve been able to optimize it well and manage it in the long run.