Is Your Average Order Value (AOV) low?
Are you tired of searching for the best solution in the industry to increase your AOV???
I know it’s a YES and you must read this…!
In this article, I’ll help you to practice the strategies for high AOV if you are struggling with low AOV in your Shopify store. We’ll take a look at the strategies I have been practicing since the past couple of years and will request you to implement to make sure it’s the right choice.
1. Common Reasons Behind Low AOV
Every newbie who starts dropshipping never knows the importance of high AOV in starting 3-6 months because they only know that the high AOV means high ticket product selling but it’s not true if they can practice in the right direction. Let’s understand the reasons behind low AOV in dropshipping.
1.1 Follow The Competitors
Most of the beginners try to spy on competition because they feel that it can save a lot of time and they can get huge sales quickly because their competitor is making good sales everyday. But nobody can actually know the real stats of the competitor. And if the competitor is selling products in the range between $10 to $20 then it will lead to low AOV in their own Shopify store too.
1.2 Skip Product Research
Product research is a systematic process which consumes a lot of time everyday. But in the beginning, everybody wants to get sales quickly with a high margin. So with the expectations of high margin quickly, they get distracted and skip the time consuming process (it’s natural to get distracted in the beginning.)
1.3 Buy product list from freelancers
So many beginners think and then hire the freelancer for product research but it leads to big failure quickly or a small success after spending a lot of time and money. Because the freelancer is making money through freelancing and not by doing ecommerce business. So the reality would actually be different with their product suggestions.
1.4 Use common product research tools
A common research pattern will give common results. All the beginners fall in attraction with the product research software they see in youtube videos or in Facebook ads.
But if the software is suggesting common products to everyone and especially low prices products, then it will never ever give big AOV in eCommerce stores.
1.5 Not doing enough hard work
Hard work is much needed for everything and not only for getting a big AOV in dropshipping business. And hard work gives great results with consistency and dedication.
How to increase AOV rapidly
So as the title says, How To Increase AOV rapidly, I would like to mention a condition here and the condition is Execute The Suggestions Rapidly. Let’s have a look at the changes you should implement-
2.1 Non-stop Testing
Non stop testing doesn’t mean that you should test all the products without analysis. It means that you should focus on those products which can help you to make high profits. Such as bundles.
2.2 Product Page Optimization
Product page is the page who gets maximum traffic in most of the successful shopify stores. So it has its own importance. On the product page, by default the quantity option shows 1 but with a minor tweak, you can easily sell more quantities. If you will add a colorful line “92% People Are Purchasing 2 Units To Save Additional 25%” then you can notice a sudden hike in your AOV if the traffic quality is really good.
2.3 Frequently bought together
This one is my favourite because I am getting a decent AOV due to this addition on the product page. But Frequently bought together works only if you will show the relevant products at a super saving price. Otherwise it won’t work as it should.
2.4 – Cart Page Optimization
Cart page is common for all the products in any store. So it is a good opportunity to add more value to increase AOV. For example, you can simply show “Get Next Day Dispatch For $3.5 Only” and you can notice that people will start paying for it. And the amazing fact is, you don’t have to do anything additionally for this. It’s your additional profit.
2.5 Post Purchase Upsell
Post purchase upsell is a very common word but most of the people who are familiar with this word are not actually making use of it. The reason is, most of them think that customers can buy anything if they will show anything on the thank you page. Post purchase upsell works only with super unique products with a decent pricing plan.
2.6 Welcome Email + Upsell
Almost every customer opens the welcome email or purchase confirmation email. So we can show the most relevant product ( a small product ) in email with a discount for 24 hours then it may give a few more money.
Where the strategies I shared have a lot of benefits but there are a couple of precautions too which may save time and losses if anything will go wrong by mistake. Let’s see the precautions you should take care seriously
3.1 Track and monitor visitor’s behaviour
Monitoring the visitor’s behaviour will help to understand the factor which can drop the conversion rate and to find the mistakes. For this, you can use lucky orange or hotjar.
3.2 Test the products with a big margin
Testing the products with a high margin is a regular practice. If you will skip it anyhow, it will distract your focus and will pull down your efficiency for understanding the right products.
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