AOV is an acronym for Average Order Value. AOV is an essential key performance indicator (KPI) for eCommerce websites. It is used to measure merchandising results over a specific period of time.
If your AOV is low, including Lifetime Value Per Customer (LTV), then it may be time to look into some strategies on how to improve AOV so that you improve overall performance.
Monitoring and analyzing AOV is crucial for your business. It not only improves performance and increases sales, it can also aid businesses in making important marketing and sales decisions, which will improve your customers' experience while improving your bottom line.
Customer acquisition costs continue to rise and competition becomes more fierce and fierce, you need the higher AOV for your economics to continue making sense.
Imagine: you have 5000 orders a month and your AOV is €37. If you get to increase the AOV to €40, you will make €15,000 more each month - and €180,000 annually.
To increase profit and generate better ROI on your marketing, you need to sell more to your existing customers. Your site will be cross-checked over 20 proven methods, how to increase AOV. As the result, you will get an in-depth report.
Increasing AOV is one of the most important metrics to track for any retailer.This way you can reduce customer acquisition costs and increase ROI, which means you can accelerate your path to profitability or put more money into advertising and product development. And grow to new heights, with higher profitability.
In short - profit increase.
bitfiner unites the best and proven eCommerce growth tactics, guidelines, and workflows - with top experts in business, design, and development - to grow your eCommerce business. Smarter, not harder. We are not reinventing the wheel, and we are making your wheels speed up.
We have a proven track record of delivering the promises, happy clients from over 20 countries, and around 10 international/local UX/UI awards as a cherry on the cake.
As our marketplace is one of a kind, we are keeping it simple in the early days. Pay on delivery with debit/credit card, via direct bank transfer or Paypal. The commodity we seek is trust, and we are happy to ensure the product delivery before any payments get made.