What is a good AOV?
What is a good AOV depends on the specific niche. In general, a higher average order value means that customers are spending more money per purchase, which is a positive signal for the company. However, the optimal AOV can vary depending on the product or service, the target audience, and other factors.
An example of the impact of AOV on the efficiency of a digital funnel
Let's say you spent RUB 40,000 on displaying an ad and received 210 sales worth RUB 2,520,000. AOV will be RUB 12,000.
Let's consider how the sales funnel will change if the average check is 10% higher or lower:
Unit Economics Calculator: Assessing the Impact of Average Check on Revenue
As you can see from the calculator, if the average check increases by 10%, sales revenue will also increase by 10% - to 2,772,000 rubles. If the indicator decreases by 10%, revenue will decrease in the same proportion to 2,268,000 rubles.
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How to increase AOV?
Increasing your average order value is one of the growth strategies for many companies. Here are some ways that can help you increase your AOV:
Cross-selling and additional offers - related products or additional services that you can offer to the customer will increase the average check.
Loyalty programs and bonus offers will help encourage customers to make larger purchases.
Free shipping when your order reaches a certain amount - this will encourage customers to add more items to their cart to reach that amount.
Personalized marketing – customized offers and recommendations based on customer preferences and interests increase the likelihood that customers will add more items to their cart.
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