Increasing your sales is quite tough in the current scenario, but boosting order values can certainly boost sales and revenues. Here are a few valuable tips to help boost order values.
One tip that can encourage your online visitors to buy more than a single product is to engage in cross-selling by displaying matching products to one that might be displayed on your visitor’s screen. For instance, if you are selling business suits at your online store, then displaying matching shirts, ties, cuff links, socks, and shoes along side each featured suit would present the complete picture and compel your visitor to add items across other categories to the chosen suit.
Similarly, in case of up-selling, you could display similar colored suits with varying prices so as to encourage the potential buyer to opt for a costlier suit. On the other hand, you could also offer free accessories against specific number of purchases. For instance, you could offer a free tie or a pair of cuff links against purchase of a suit and a shirt in a single order. These tactics would tempt potential buyers into buying more than one product at a time and result in a win-win situation for all involved.
You could also offer additional discounts in case one went ahead and purchased an entire package. For example, you could offer an additional 5 or 10 percent discount if your visitor opts for a complete package containing a suit, shirt, tie, cuff links, socks, and shoes. Such an offer would indeed be hard to resist.
While free shipping has always been a fantastic magnet to attract online buyers, offering this service to all buyers could impose a huge financial burden. You could set up various order value levels and offer totally free, discounted, or full shipping rates based on the value of a single order, thereby encouraging buyers to load their shopping carts until they reach the free shipping threshold. You could also offer free shipping on products that you need to move quickly so as to further boost their movement and increase order values.
Displaying limited period offers is also a wonderful way of boosting sales as well as ensuring fast movement of your inventory. Another tip is to add a free gift offer during the checkout stage that informs buyers that they could get free gifts or gift coupons by increasing their order value by just a slight value. This could encourage buyers to go back to browsing your product lineup and add the designated value to that order to qualify for the freebies.
Using referral programs on popular social networking websites too is a new trend that can be tapped to bring in new buyers as well as encourage existing buyers to keep on shopping at your online store.
The above tips can be easily implemented on your website and can truly boost order values within no time at all.