May 18, 2022
3 Min. Read
Read on to learn affiliate marketing tips on why it is so important for vendors to increase AOV, and which are the 5 best ways you can do it.
Affiliate marketing and Average Order Value (AOV) are like the two wheels of a bicycle.
They are inseparable, move at the same pace, and travel in the same direction.
But most of you might wonder what’s so special about AOV. It’s just a number - the total revenue value of all your online orders divided by the number of orders.
While we agree that it’s just a number, the number signifies a lot of things in the world of affiliate marketing - including the likelihood of having success with affiliates. And product owners across the globe do all that it takes to increase AOV.
Let’s find out.
Here are the benefits vendors enjoy when AOV is maximized:
Now that you know why it is essential to increase your AOV, let’s understand the ‘how’ part.
Here are five ways for vendors to increase their AOV:
Shipping doesn’t come cheap, and customers know it. Hence, when you offer free shipping to a customer who buys products amounting to a minimum threshold value (ex: free shipping on orders over $100), there are high chances that they will buy more items than they actually need right now to unlock free shipping.
Whenever and wherever possible, bundle the best affiliate marketing products and offer a cheaper price per unit when customers stock up. The key is to create a bundle in such a way that it represents a clear, better value than the original products & price. This will entice customers to purchase more per order.
Nobody wants to miss out on a great deal. Special promotions automatically push customers to add more items to their cart. You can achieve this via limited-time period coupon codes or a ‘simple percentage off’ on certain products.
There are numerous ways to offer personalized experiences to your customers. Offering personalized product recommendations in the form of a ‘You may also like this’ section is a great place to start, or, offering customized products for people’s needs. A study shows that return visits for recommended products have a 40% higher AOV than those for non-recommended products.
Upsells are one of the best ways to quickly get your AOV up. After people purchase the initial product they were interested in or add it to their cart, showcase other products and offers available for purchase, such as more of that same product for a cheaper price per unit for them to stock up, or related products that support their initial purchase and the benefits of that first product.
If you’re a vendor and sell products online, your AOV is one of the many levers you can pull to boost your sales. All you have to do now is follow the strategies highlighted in this post and wait for your revenue and affiliate marketing sales to skyrocket.