4 tips to increase your profits without the need to attract more customers
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Many online businesses owners are trying to increase their earnings by attracting more customers. However, gaining your customer's loyalty may take time and effort, and not necessarily will impact in the short term to increase your revenue.
An easier way to get more profit in the short term is to allow your customers to purchase more from your business through better opportunities. Your average order value, in this case, shows how much the average customer spends in a single transaction on your online store. Therefore, if you increase your average order value, you can boost your revenue without needing to find new sources of traffic or ways to improve your conversion rates.
So, how are you going to increase how much your average customer spends? Here are 4 tips that will help you accomplish that.
Cross-sell or Upsell
This is an easy way to increase your average order value.
When a customer chooses a product, they will receive suggestions about other products that may be higher priced but would offer the customer more value. This is up-selling. As Shopify Experts, we can recommend an app that will help you with your up-selling strategy, very easy to use. You can know more about it by clicking here.
When you cross-sell, you offer a complementary product to the one the customer is about to purchase. This work incredibly well when you’re offering, for example, batteries for your electronics, or cases for your phones. Be smart and creative and you will be able to implement a great cross-selling strategy.
Another way to increase your average order value is bundling, this consists of a strategy that creates a curated collection of complementary products that can be purchased together, often at a lower price than if you purchase the same products individually.
You can bundle similar items or offer a deal for items that complement well together. This encourages customers to spend more on your store and purchase products that they may not have originally wanted to purchase.
Make sure to consult on Shopify’s app store for those apps that will allow you to implement this strategy easily. And if you have any problems with the configuration of the app, contact us today and we’ll be happy to help with the configuration.
Offer a volume discount
A volume discount offers your customers a chance to save when they purchase more of the same product. An example would be to offer free shipping for orders over a certain amount or offering customers a discount on orders over a certain price.
If this is a strategy that you want to pursue, make sure it is obvious to the customer by adding it as a banner or sending out an email with this special offer. If you’re confused about how to implement a proper marketing campaign to entice your customers to buy more from you, contact us today by clicking here and we’ll be happy to design a great strategy for you.
Offer a post-purchase discount
This consists of a discount or free gift that only lasts for a short period of time after a customer makes a purchase. You could include this offer on your purchase confirmation page or the email receipt that you automatically sent to your customer.
Time-sensitive deals are a great way to create a sense of urgency. They can also boost sales during slower periods.
Make sure to consult on Shopify’s app store for apps such as countdown timers and other fun ways to display your limited-time offers. And if you have any problems with the configuration of the app, contact us today and we’ll be happy to help with the configuration.
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Here are a few things we can do for you:
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