Doubling your online store sales by increasing your average order value. In this video,
I'm going to explain what is average order value, what it means to you as an online store owner,
and 8 different ways of increasing your average order value so you can double your sales for your
store. Hi, I'm Clarice Lin, The ROI doctor who helps small businesses and online stores to double
your store traffic and sales by getting on Google and YouTube page one. As an online store owner,
you want your store to become more and more profitable over time. As such, most of you must
be thinking of how you can increase your store traffic using various methods. Whether it is
through free methods like getting your products on Google Shopping free listings, or running Google
ads, or running social media ads. If you want to learn of how to get more traffic from Google,
you can check out my other video right here where I explained how you can set up your
store to get more traffic from Google Shopping free listings. And if you have some budgets,
and you are thinking if you want to drive more traffic using Google or Facebook ads,
you can also check out my other video right here link in the top right hand corner of the screen
where I talk about Google Ads versus Facebook ads, and the pros and cons. As you're driving
more and more traffic, you're hoping all of this increase in traffic is going to result in the
equivalent increase in sales. However, there is also another two methods that are less mentioned,
compared to driving more traffic for your store that could also increase your store's revenue,
the two methods are getting your existing customers to return to your store over different
periods of time, so they spend more on your store. The other method is to increase your average order
value. And what does it mean by average order value? Average order value is equivalent to
your total revenue of your store divided by the total number of orders that you get. In this case,
what you're getting is each time someone comes to your store, each of them will be spending maybe
10% or 20% more. So that means overall, even if you're not getting a huge, double or triple amount
of traffic to your store, you are getting a higher quality of customers, people who are willing to
spend more in each order. By doing that, you can also easily increase your store sales over time
without needing to double or triple your store traffic. And here are eight different ways that
you can implement for your store to increase the average order value. You might not need to
implement all of these methods, what I'm doing over here to explain the eight different ways
that you can do that. And you can pick and choose which one you feel is more relevant for your store
relevant for your industry, and relevant for the type of customers you're selling to. Number one,
setting up a customer loyalty program. Setting up a customer loyalty program sometimes can be
a little bit complicated. There's a kind of logistics or mathematical formula,
you want to think of to make sure that you are getting customers to be committed to your store.
And they're getting enough points such that you are still earning money. And you're also
incentivizing them to be buying more and more from you each time around. So a customer loyalty
program could be in the form of if they refer a customer to you, they also get some percentage off
for their next purchase, or they could be earning some bonus points that will contribute to their
next purchase. So this will incentivize them to help promote your store products as well provided,
of course that your products are of high quality and they want to recommend them to their friends.
Having a customer loyalty program is also another way to foster a more long lasting relationship
with the same customer. And this also means that you can increase the same customer retention over
time. So you don't have to keep trying to get new customers to your store, it's easier to get
the same customer to spend with you after having been satisfied with their purchases rather than
getting a completely new customer like a stranger to your store who have never bought any of the
products before. And they are not quite sure what to be looking out for and what to expect.
Method number two, offering free shipping or reduced shipping costs for different times of
the year. Or if there's a special occasion, let's say there's Christmas or Black Friday,
what you can do is by offering free shipping, you're incentivizing them to be buying in bulk,
different products that they need, because they don't have to pay for the shipping costs.
Of course, you don't want to be offering free shipping if you are suffering a loss
for your store. So don't try to implement this without working out your math to see if it'll
be profitable for your store in the long run. Let's say if you're selling $5 product and it
costs $5 to send it to them, you're not going to make any profits for these customers and
you're likely going to end up in experiencing loss for your store over time. Also by reducing
the shipping costs you're going to incentivize and motivate customers to decide to want by
knowing that they're going to be able to get more bang for their buck. Method number three,
you can set up an exit intent pop up for if shoppers will come to your store,
if they click on certain elements on your page, or if they scroll past maybe 50% or 80% of the page,
you can have an exit pop up coming up, you can incentivize them by maybe offering a 20% discount,
or you could also incentivize them with a free gifts, something that you know that
will be very interesting for them if they buy over a certain amount. In this case,
then they will more likely be willing to spend a certain amount to actually buy
from the store because they are getting a free gift that they are very interested in.
Method number four, offering a limited time offer, maybe you could have a clock that's counting down,
telling them that you have a special discount that lasts until midnight or
if you can capture thei email address. You can also send them limited time offers so
they'll be more incentivized and encouraged to buy certain items that they actually need,
and pushing them to make a purchase decision. Method number five, bundling the products. Let's
say if you have a cosmetic store, and you know that someone was buying a mascara could also
be interested in a lipstick, or a blusher. If you're bundling those products together,
it will likely lead to more sales because you're bundling together products that a customer would
also need at the same time. So if you're making a very attractive proposition for your customers,
then this could also help the customers to want to spend more in that point in time.
Method number six, offering upsells, offering a bigger product or more expensive product of
what they're buying. So for example, if someone is buying like a mini lipstick, you could offer a
discount for maybe a bigger lipstick that they can use if they are using it at home. Or if they are
buying like a bottle of moisturizer as a travel kit, you could also offer them a larger bottle of
the same moisturizer at a more affordable rates. In this case, customers might be encouraged to
buy the larger bottle because they find that it is value for money and it's something that they need.
Method number seven, offering cross sell. What you're trying to do here is to actually offer
complimentary products that you know that the customer might need. Let's say if you're selling
fishing rod, a cross-sell will be selling fishing hooks that is suitable for their fishing rod or
it could be something like maybe a mosquito spray because you know that people who are going fishing
sometimes they could be going to areas where there are many insects or offering like a supplementary
product like an insect spray could be something that they need. In this case, you're offering
supplementary products that you know that your group of customers will also need at the same
time when they are buying that product. If you implement cross sell correctly, customers are
more likely to be buying the additional product that you're promoting. Okay, method number eight,
increasing more customer reviews for each of your products by having more useful,
more detailed customer reviews, you are increasing the trust and confidence for your customers. What
you want to do in your reviews is just not to give like five star reviews, you want to
get your existing customers to be offering more detail like why they found the product useful.
Why if they would recommend to other people, which specific feature or characteristics of the product
they found that was really value for money and they will buy again or they will want their
friends to buy. In each of the reviews that you are collecting for your store, you want to go into
the real specific so future customers will come to your store, see those reviews and they will be
more likely to buy from your store or even making a larger purchase from the store. Because most new
customers coming to your store, they usually wouldn't want to spend a huge amount of money,
especially if it's for their first purchase and they don't really know anybody who's buying from
your store. By having customer reviews, detailed customer reviews, real life experiences from real
people, customers, they know that they can trust your store they're likely to want to buy, not just
one item or maybe a higher value item because they know that they can trust you increasing
the average order value for your store is a great way to double your store sales without needing to
invest more money into driving more traffic. If you're keen to drive more traffic to your store,
you would definitely be interested in my Shopify Marketing Guide link in the description and pinned
comments where I explore the pros and cons of each different method whether it is free or
paid ways to drive more traffic to your store. Download the guide and evaluate your options to
make the best decisions for your store. And if you have a budget and need more one on one help
to drive more traffic for your store, you can learn how you can work with me to double your
store traffic and sales by contacting me below, link in the description and pinned comment I
have store owners to tailor a very customized strategy so they'll be able to scale and grow
their store quickly over a shorter period of time. And if you found this video useful,
remember to give it a like, subscribe to my channel and turn on the notification bell so you
don't miss any future videos on how to double your store traffic and sales by getting on Google and
YouTube page one. I'm Clarice Lin, The ROI Doctor signing off. I'll see you in the next video. Bye