4 Tips On How To Increase Average Transaction Value For Your Dropshipping Business

As a business, you need to adopt effective strategies to grow your income flow. Keep on reading to learn how to increase your average order value.

Provide good product recommendations

When somebody's looking at a product, highlight other products that go well in conjunction with that product, a good recommended partner product for a bundle. Think about adding that to your product page, put it in the product description. Most eCommerce stores have a recommended products widget that you can add to your product pages and then also add automated email journeys to your online campaign so that when somebody buys a product they instantly start getting emails recommending other products that would add value to that product – cross selling other products. Include coupons in there, if somebody sees that and is interested in taking action, they're either further motivated with a discount code that they can take action on to buy that product that really pairs nicely with the other product that they purchased. By doing these things you're able to increase your average order value because people are ordering more than just the one product. In many cases they're ordering one or two other products at the same time or nearly right after they purchase the initial product so think about adding those things into place.

Create discounts for order minimums

Whether it's quantity minimum and you give somebody a discount or it's a value minimum like 100 dollars or more and get a discount, add these things to your store, put them as a leader board banner site wide globally, so all visitors can see this, and see that that's an option. If somebody's close to these value, let's say it's 100 dollars or more, they get 20 dollars off, if their cart's at 75$ or 80$ - it's just enough to probably push them to buy one more product and hit that order minimum which allows your average order size to increase right? You can also think about adding this into automated email campaigns and getting the word out that way. Put it on your product pages so if somebody's just about to click to the checkout button, they see the promotion, put it on your cart pages, put it everywhere they might see it, so that they're motivated to take a second and look for one more product. Maybe they're buying some shoes and they're only 10 dollars away from an order minimum discount, what they do? They go buy a pair of socks, right? And now your average order size increased by 20$, which works particularly well for dropshipping products. If you have 1000 orders a month and 20 more dollars you're getting from those 1000 orders, this starts to make a huge impact on your bottom line, so think about order minimums whether it's quantity or value, and take advantage of that on your cart.

Think about creating product bundles

Product bundles are very advantageous to an eCommerce store to increase order value because they're buying a lot of products in one shot. Think about bundles and what bundles you might be able to add your store and make it a slight discount to buy the bundle as opposed to the one off products. If they bought shoes and sock and a belt, all individually, that should cost more than if they buy those three as a bundle, so start thinking about the bundles that might make sense for your business and then highlight those on your store. Put them on landing pages, category pages. Put bundle highlights on your individual product pages saying hey you can buy this as an individual product but you might think about buying the bundle, show a graphic of it with the price there and the savings that they get overall by doing so. These things are going to help you increase the average order value for each customer that comes to your store.

Design a nice product care pack

So when you mail your product out, when you ship it, put it in a nice box, a nice package there and highlight some of the related products in that package of the product that they've purchased. Put some visuals in there of products that go well with end product. Put some coupon codes in there so that if they come back and buy they get a little bit of a discount, even put some referral cards in there so if they think it's a pretty cool product, they can share it with their friends. These are great ways to get more dollars out of each customer that you bring to your store.

No comments:

Post a Comment