Guest Blog: Three Ways to Increase your Average Order Values in a Snap

 

Wondering how to increase cart order values without a large amount of work? You've likely heard the classic tips about bundling offers, providing free shipping, and using coupons. Though these techniques can increase purchase value, they come at a price. Here are three easy ways to bump up your average order values.  

 

Consumers who buy oil filters tend to need motor oil; those who buy laptops may need laptop cases, docking stations, or wireless routers. Retailers that suggest complementary products or recommend items based on current or past purchases are in a terrific position to increase average order value. Mexx is a great example of this.  They feature items that “Other customers also bought” based on customer’s recent browsing history. Claire’s online store accomplishes this by featuring three categories of recommendations based on browsing history. These include: “You may like”, “Recently viewed” and “Most liked” items. This can be a highly effective tactic, but it is also costly to implement.  Check out Commerce Marketplace partner Nosto for a cost-effective solution.

 

This is closely related to the recommended products technique that you may already use. When your customers add an item to their cart, offer them a package that includes complementary products at one special price. Customers benefit from better pricing on each item and their order value will increase. Proactiv successfully bundles products and encourages customers to buy the more expensive, higher-value packages with higher price points. 

 

Many consumers have serious qualms about using their credit cards online, so giving them alternatives can spur sales. Concerns around credit card security and identity theft are rampant and a growing number of customers are afraid to use their credit cards online.  These concerns are top of mind for many consumers in light of the recent credit card security breaches at Target and Neiman Marcus.  The Target breach affected over 70MM consumers, and the data breach at Neiman Marcus went on for more than five months before it was even detected, and wasn’t fully contained for another month thereafter.  Because alternative payments do not require any credit card information, they can allay these fears.  

 

Offering multiple payment options will allow you to tap into this customer group, which can result in significant sales increases. Research from Forrester Consulting has shown a 20 to 40 percent increase in order values after alternative payment options were enabled. Better yet, systems such as FuturePay, can be added quickly with no cost. 

 

When you are looking to increase your average order values, it is valuable to choose options that don’t require any cash outlay.  Adding alternative payment options, personalizing and streamlining your site, and upselling and cross-selling to your customers will increase your sales in a snap. For more tips on how to transform your website and boost sales, visit FuturePay.com.