I grocery shop on Sunday afternoons for our little family of three–myself, my husband Kohlman, and my five-month-old, who is currently on a solid-strike except for chewing on the occasional carrot stick. Needless to say, we don’t need a whole lot.
Yet somehow, I always end up walking out with more than I can carry, let alone use before it goes bad.
Kohlman: “Why did you get so many boxes of Nut-Thins?”
Me: They were 4 for $10.
Sprouts: 1 (They got me to add more to my cart.)
Me: 0 (We are so tired of Nut-Thins now.)
A lot of our brands are interested in raising their AOV for two reasons. The first is obvious: to increase overall revenue. The second is to assist us, your acquisition partners, in being able to spend more to acquire new customers.
You may ask: “Wouldn’t I want to pay as little as possible for new customers?”
Think of it this way. The more you are able to pay for your customer, the more leverage you have over your competitors. The more customers you acquire from your competitors, the faster you grow. One of the best ways to out-bid your competitors at the prospecting level is by raising your AOV.
I’ve taken five of our partners who have implemented tried-and-true AOV-raising strategies and highlighted them here so that you can find the one that works best for you.
1. Free Shipping When You Spend $X!
Anyone else guilty of adding just one more item to their cart to reach that free shipping threshold? Works on me every time. Here’s a simple trick for figuring out what number should go where the ‘X’ is: Look at your AOV from the last 60 days (excluding any big sales you’ve had), and then plug in the next round number above it. So if your AOV is currently at $46, set the free shipping threshold at $50! That way, customers will want to add that last extra box of Nut-Thins (or whatever you’re sellin’) to get free shipping
2. Volume Discounts!
“Buy 2 Get 1 Free With Code: SOCKPARTY” (Odds are, one will go missing anyway).
3. Upsell, Upsell, Upsell.
“Add A Foam Gun! (Recommended for a faster cleaning experience).” Selling glasses? Upsell cases. Selling foundation? Upsell brushes. Selling shoes? Upsell laces. Whatever it is, let your customer know why their experience with your product will be even better with THIS.
4. You May Also Like…
Dynamically pulled product recommendations make your customer feel like they have a personal shopper. Use phrases like…
“Complete The Look!” or
“Customers Like You Also Bought”
5. Bundle & Save
Bundling makes multiple items an easy, one-click buy for your purchaser. When you’re thinking through which products to bundle together, consider ones that you think a customer might be hesitant to purchase at full price. The key is to make sure your customer feels like they’d be missing out on a deal by not buying all three.
So which one is your favorite? Let us know in the comments below, or fill out the form to let us know how we can help spike your AOV in Q2.