10 Ways To Increase The Basket Value For Your Online Store
Increasing the basket value of your online store will help you gain more money for every transaction made. When customers shop through online platforms, they generally tend to purchase only those they are searching for.
Now, who wouldn’t wish to attract a few more bucks and gain profit?
By incorporating average order value strategies, you can generate more sales per order by presenting the customers with great products. Here are some smart pointers that will help you increase the basket value of your eCommerce website.
- Offer First Time Deals:
Are you a new branding agency with less than six months’ experience in the market? Then the majority of your consumers are first-time visitors. By providing lucrative discounts and deals, your new visitors will be further enticed to try out your products. This is an excellent method to increase your basket value. Providing this specific audience with a one-time special discount when purchasing exclusive bundle packages will further promote your site.
If your customers like the items they receive, it will surely make them shop again and turn them into repeat customers.
- Create a Free Shipping Limit:
Maintaining a minimum order quantity to get free shipping and other discounts help increase your store’s basket value. Studies show that customers add items to their online shopping carts to get free shipping deals.
While checking out, when the consumer’s purchase does not reach the required free shipping threshold prompting them with a notification would be beneficial. With the help of this notification, you can enhance your average order value without impacting your business’s sales. This is possible in most of the e-commerce shopping platforms. Additionally, if you add a floating bar, your visitors will be more attracted to try out the incentives.
- Offer Bundle Deals:
While competing with the market giants, eCommerce merchants have to pay more attention to their pricing strategy. Bundling packages will help the customers to save their money, at the same time, convinces them to buy more than what they initially planned. This, in turn, will help boost the basket value of your business branding site.
Bundling deals offer more convenience to the customers and make them happy. Wondering why? Well, consumers will be able to get their products from the same e-commerce store at a cost-effective rate. However, while offering this promotion, make sure the pricing covers the cost of the product that you’re providing for free to avoid losing your profit from the bundle package.
- Maintain a Loyalty Program:
By starting a customer loyalty program, you will be able to motivate your visitors to come back to your online store repeatedly. This helps in nurturing loyalty and strong customer relationships. Both large and small eCommerce sites utilize this tactic to enhance their average order value. It also helps them in jumpstarting their business when they encounter sluggish sales.
To create a good loyalty program, its important to offer consumers with valuable and effective incentives. For instance, providing incentives such as priority shipping, early access to the latest products, discounts on the next purchase, and freebies are a few great options.
- Make Use of Purchase History:
By understanding and analyzing your consumers’ purchasing history and behavior, you can generate sales by sending them personalized discounts and offers. This strategy not only enhances the user’s experience but also increases the basket value of your store.
This technique also enables eCommerce merchants to group their customers automatically, depending on their monetary value and order frequency. It also allows you to segment your customers and match offers that are beneficial for each customer type.
- Provide Gift Cards:
Offering gift cards to customers is an effective method to increase the average order value of your site. This will prompt them to revisit your store and use the voucher for the next purchase. Also, customers tend to spend beyond their gift card limit, generating profit for your store.
Hence, make sure to adjust your products’ pricing so that the gift card will not result in free purchases, thereby causing a loss of profit for your store. Additionally, you can save on future ad expenses as gift cards encourage future shopping. Avoid giving this deal throughout the year as it will lose its impact over excessive use.
- Run Games Or Contests:
You will often find the food industry running contests or games to increase the bucket value of their site. For instance, the Monopoly Game by McDonald’s offers its consumers with incentives when they upgrade meals and order frequently to attain game pieces. Using these game pieces, they stand a chance to win huge prizes.
For e-commerce, you can run contests where consumers who purchase often get a chance to win prizes.
- Present Time-Sensitive Deals:
Time-sensitive deals create a sense of urgency among customers that will help increase your online platform’s bucket value. For instance, having a 36-hour deal to obtain a special discount or gift after ordering a specific amount of products would work great.
Though this deal will not create an increase in bucket value for an extended period, it will boost a short time frame. Moreover, you can promote these deals on your social media accounts or banner notifications on your website design agency site.
- Show Bulk Order Savings:
Who doesn’t love saving money by ordering in bulk quantities? However, customers generally feel guilty when they purchase in large quantities. By displaying the overall savings that they gain from bulk purchases, you can maintain a high basket value from your customers. This will also prevent shopping cart modifications or abandoned carts from taking place, thereby lowering the amount they originally planned to purchase.
- Live Chat for Encouraging Sales:
Provide live chat service to customers, it offers convenient and quick answers to their queries, which will nudge them to make a purchase. This is an effective method to hike the basket value of your store. Ecommerce businesses can utilize this strategy to upsell products in real-time.
When consumers engage in live chatting and explain their issue, the live chat employee can resolve the problems by providing the customers with the right product.
By executing the above strategies, you can increase the order volume of your online outlet. This will help you generate more profit in the long run. Implement these new ideas to see your sales start rising.