Maximising order value

A crucial metric

The quickest and most cost-effective way of maximising order value to generate more revenue from a website is by increasing Average Order Value (AOV) which means firstly encouraging visitors to buy something and secondly encouraging them to buy more. Indeed AOV is one of the most crucial metrics for online retailers and distributors and the right tools must be put in place to measure this fundamental statistic before any actions aimed at maximising order value can be implemented.

Building relationships

One of the most common misconceptions that in online marketing is that increasing visitor traffic is the key to success and many online retailers tend to put maximising order value on the back burner and spend the majority of their marketing budget on search engine optimisation (SEO) and pay-per-click advertising (PPC). However, whilst these techniques are certainly a good way to drive traffic to the web site, they don’t do a great deal to create the valuable customer relationships and long-term profitable customers that are required for maximising order value.

Proven techniques

The number one requirement for maximizing order value is therefore to measure AOV and then take on the challenge of increasing it. Apart from making the web site easier to use, this can be achieved by focusing upon proven retail and distribution sales techniques such as offering the right products at the right prices, presenting appealing offers and promotions, up-selling, cross-selling and so on. Remember however, that maximizing order value depends on measurement, monitoring and management.

Find out more about Maginus eCommerce Solutions, how customers such as Cath Kidston, Calendar Club and Traidcraft benefit from Maginus Multi Channel Solutions.