Increasing the average ticket in your eCommerce business will allow you to increase your overall turnover, improve your profit margin, and save on shipping costs. The average ticket refers to how much customers spend on each purchase in your online store, or the average value of each of their eCommerce transactions. To calculate it, you can divide the monthly turnover of your eCommerce business by the sales volume over that same period. If you’re looking to increase its value and for the users to spend a higher amount on each purchase, we recommend setting competitive prices and implementing the following techniques:
1. Offer discount vouchers.
To encourage greater spending, you can begin by offering discount vouchers that are subject to certain conditions. We’re not talking about general sales or lowering of prices, but rather giving your most loyal customers discount vouchers for your spending above a certain amount or that are only valid for a limited time. The most effective way to carry out this type of promotion is through email marketing.
2. Modify the conditions for free shipping.
This is one of the most widespread strategies due to its great performance. Review your logistics and based on your needs, offer your customers free shipping for spending over a certain amount. With this, those users that are just a few euros away from the free shipping they desire will choose to pay for additional items instead of paying shipping fees. The minimum you set for free shipping should be reasonable. Otherwise, you may lose customers and could even damage your brand image.
3. Enable cross-selling.
You can also include a series of related items that have a higher potential of grabbing your customers’ attention on your product pages and in the checkout. These will be more effective if they’re personalised based on the search history of each user. The clearest example of this can be seen in Amazon’s carousel of similar products.
4. Initiate upselling actions.
This marketing strategy is based on offering customers a higher quality product or one that has superior features, and, therefore, has a higher price. This tactic is usually carried out through assisted selling and works best in the moments before payment. Its success is based on the fact that the seller already knows what the unmet needs of the consumer are.
5. Create product packs.
To go one step further than cross-selling, you can create packs of related products and sell them at a lower price than they would have separately. In addition to being attractive because of their price, these packs will generate a new need in users, who often haven’t stopped to think about what other items they might need, like a camera case. At the same time, these packs make it easier for the company to sell products with higher stock or lower quality.
6. Design loyalty programmes.
Points programmes are a great tool for increasing the value of the average ticket since if the reward is attractive enough, the customers will make higher-value purchases to achieve the points necessary to obtain it. For this, selecting the best gifts for your more loyal customers is important, without this leading to losses for the business.
7. Create dynamic landing pages.
Landing pages don’t have to be limited to campaign launches or introducing new products. You can incorporate new landing pages or change existing ones to give greater visibility to the most interesting products, such as seasonal items. Certain products may go unsold because customers are unaware of their existence.
8. Identify new audiences.
Finally, you can broaden your target audience, without losing sight of your objectives, and plan direct ways to attract a new audience. To do this, you have two tools available to you: good user segmentation and omnichannel marketing campaigns with a strong viral component.
Along with these techniques, we recommend that you carry out a periodic review of your pricing policy to ensure that it’s in line with supply and demand and able to react to changes in the market. To speed up decision making and improve your price management, eCommerce businesses can use automated pricing suites that adapt to their characteristics.