The target for anyone running an online store is to make more revenue. To achieve this target there are various means from increasing web traffic to improving conversion rates. Another popular tactic to generate more revenue is to increase basket size or in other words the amount customers spent at the store. Here are 7 tips to help your e-commerce store drive up basket size.
1. Introduce more products - The key for a sustainable growth and a means to increase basket size is to offer new products which are in demand. Stay tuned to trends in your industry and fulfill customer demand. Go to industry shows, conferences and encourage visitors to your store to email you their wish-list.
2. Offer product bundles - Using your current stock, create new products which include several items and position them as product bundles. The key is to demonstrate the savings which could be made by buying a bundle pack vs buying the items separately.
3. Push complimentary products - Most types of products could work nicely with a companion products. To increase basket size by making customers buy complimentary products you’ll need to push the products during the checkout process and ensure they are indeed complimentary.
4. Increase product prices - From time to time look at your prices, compare them to your competitors and double check your margins. Increasing prices is a legitimate means to increasing basket size provided conversion rate stays the same.
5. Display one off products - Products such as ‘limited edition’, ‘limited stock’ etc will give you an option to sell one off (ad-hoc) products which are hopefully priced higher than your current basket size.
6. Use in-store promotions - Offer free shipping, upgraded shipping, product gifts and more for orders above your current basket size. Display your promotions visibly across the store to ensure visitors to your home page as well as visitors to your product pages see the promotion.
7. Focus on quality traffic - Hopefully you are using some type of web analytics to measure traffic, conversion rates and basket size. You will notice then that some traffic channels have a higher average basket value. Invest your resources and time driving more traffic from those channels and you will increase your basket size.
What are your tips for increasing basket size?
- - -
Guest article by Michelle Strassburg Co-Founder at Wood and Beyond, sellers of wood flooring and oak worktops. Michelle has over 10 years experience managing online marketing and is an active blogger.
If you liked my post, feel free to subscribe to my rss feeds
BlogoSquare