Increasing Average Order Value on Shopify
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I am Male Edmonds, people on the internet call me Supremerumam. And this is the building and Indie Business podcast recorded in the Indie Business studio. Ok. So today I wanna talk about increasing the A OV or average order value. Um So the reason why I'm thinking about this is because um let's see, how do I put this? Um It's because the prices uh for wanna dog products are low, right? So it's like three or $4 per product. So, um and in order to, you know, make a profit on the store in the first year, I have to sell 100 products at that $4 price. Um So I have to make over $400. So I'm wondering about how to do that. You know, I can either sell 100 um products or, you know, maybe there are other things I can do. I can't raise the prices. That's how I did it for a drawings, a drawings, I just increased the prices 20% and then I gave 10% discounts. Um So I kind of looked it up and you know, they gave me some ideas of things to do to increase the average order value. And the first thing I can do is I can offer a bundle so I can bundle up all the products that are similar and offer them at a discount if you buy it in bulk. So for example, I have French Bulldog, I have American Bulldog. I have English Bulldog, I could. So, so that's $15 right? So what I can do there is offer all three of those dog coloring pages for $10 and that way I get a $10 order versus a $5 order. Right? Um, so yeah, that's, that's one thing, another thing I can do is I can offer a ton of discounts, you know, buy one, get one half off. So instead of having a $5 order, I have a $7 order. Great. Um, then I can give 10% off when someone spends at least $20. And that way I'm getting an $18 order because they're probably buying no, they, they are, they're gonna buy three or four different products. Right? And, uh, that's one great thing about having digital products and why I like them so much is that there's a lot of margin to play with so I can take advantage of that and offer generous discounts. Right? And then there's the Customer Loyal Loyalty program where, you know, you get $1 off your next order something like that or if you buy three things, you get, uh, something half off. Right. That's another thing. And then, um, I can lean into, um, up selling and cross selling. So people who buy pug coloring pages might also like Cory coloring pages, right? Um, and then, you know, there's leaning in your email list. So what I have is I have people that, um, purchase a product and I asked them if they wanna sign up for the email list and some of them do, right? So I can lean on the fact that they're already a customer and convince them to come back. So you know, buy two, get one free 30% off after spending $20.30 dollars. Um yeah, things like that. Um oh and just like a general return um a return, what's the word I'm looking for? Oh yeah, or a return discount code. So like, ok, you bought something here's 15% off your next order. Ok. Um Yeah, and then there's a bunch of emails that I can send, right? So, you know, there's a welcome series post, purchase new customer um feedback request and then if they give me feedback, I offer them a discount. Um and then there's new product, things like that. So yeah, um those are some of the few things that I can do to increase the average order value, which I think will help to, you know, increase that bottom line, which is the most important part. I don't care about how many products they get sold and for how much I just care about how much money I'm making. So yeah, that's average order value. Thank you for listening. Have a nice day. 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