do you run an ecommerce store?
ARE YOU STRUGGLING WITH LOW REVENUE ???
YOU CAN INCREASE YOUR REVENUE BY INCREASING THE AVERAGE ORDER VALUE OF THE CUSTOMERS FOR THE SAME NUMBER OF ORDERS
Build Killer Offers with our 45 Step Framework and outclass your competition by increasing Average Order Value of your Customers.
E-Book created from 7+ years
of experience running an Ecommerce Store
I, Pranav, have been working in Ecommerce for 7 years now. I own and manage the ecommerce Home Decor Brand Arte House. Since 2017, I have tried WordPress, Ecwid, Magento and Shopify platforms for my store. All along these years I have studied, tried and implemented a lot of optimizations for product pages. All the tips mentioned in this e-book are gathered from my personal experience as an Ecommerce Entrepreneur.
WHY AOV MATTERS?
Average Order Value can be calculated by dividing your Total Revenue with the Total number of Orders in that Time Period. In other words, it is the average amount that a Customer spends in your store. When AOV of a customer increases, the total revenue of the store also increases. This, in turn, helps us gain more Profit. Lets take an example.
Let’s assume that your AOV is ₹1000 from 50 orders in a month.
So, your Total Revenue is 1000*50= ₹50,000.
If your profit from each transaction is ₹200, you get ₹10,000 Profit.
Let’s assume that after implementing our guide, 20% of your customers doubled their purchase
i.e ₹2000 Revenue per order with Profit ₹400
50*20/100= 10 orders
Now, the total Revenue is 2000*10+1000*40= ₹60000 and profit is 400*10+200*40= ₹12,000. This is the impact of increasing AOV. All your other costs remain the same as before, but you add an extra profit of ₹2000.
HOW AOV AND CRO ARE RELATED?
CRO means Conversion Rate Optimization. CRO of your product pages are extremely important. Strategies for increasing AOV will be effective only when you have a Killer Product Page that converts the traffic that is brought to your website.
Thus, CRO Product Page + AOV Tactics = Increase in Revenue.
Hence, make sure that you read our E-book about CRO before jumping to implement AOV Tactics.
ARE ADDITIONAL COSTS INVOLVED?
The answer to this question depends on your niche and the condition of your Product Page. Unless, you are in a really small Niche, chances are that you have enough products in your collection that will allow you to implement AOV Tactics. So, typically, no extra costs will be involved because, all other expenses like shipping charges and Ad Costs will remain the same. By the end of 45th Step, you will get a Clear-Cut idea of what needs to be done.
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