254: Profit Series Part 2: How To Increase Your Average Order Value

One of the top ways to accelerate your growth on the path to profitability is to increase average order value.

In Part 2 of our Profit Series, we’re diving into successful strategies and tactics you can use to increase your average order value. 

From simple changes with pricing to on-site additions to optimizing your Facebook targeting, we share the exact tactics our top clients are using to increase average order value and how these tactics support the big picture strategy toward profitable growth.

Episode Highlights: 

• 4:27 The 80/20 Rule and how it should impact your overall business strategy
  
• 8:41 The first thing to do if you want to increase average order value
  
• 10:30 Successful approaches to bundling products
  
• 13:02 How to use dynamic product ads to increase average order value
  
• 16:28 A tactic Kettle & Fire is using on their website collections page to boost sales
  
• 18:10 Why your best type of customers are the key for increasing average order value 
  
• 20:34 The difference between upsells and cross-sells and how to determine which is best for your brand
  
• 23:57 The value of delivering relevant products at the point of checkout
  
• 26:19 How upsells can have a huge impact on average order value and why you don’t have to overcomplicate the offer
  
• 29:00 A few additional unique ways to increase average order value
  

Links and Resources: 

• Episode 252: Profit Series, Part 1
  
• Episode 204: How To Build A Baller Quiz Funnel On A Tiny Budget
  
• Book: 80/20 Sales and Marketing by Perry Marshall
  
• Messenger Mastermind Podcast
  
• Constantly Varied Gear
  
• Dr. Axe Bundles
  
• Kettle & Fire 
  
• Tecovas Boots
  
• Carthook
  
• OneClickUpsell
  
• Facebook and Instagram Pro Ad Buyers Group
  
• @a_brawn on Twitter
  
• @andrewfoxwell on Twitter
  
• The Coalition
  
• Brand Growth Experts
  
• Foxwell Digital
  
• Review or subscribe on iTunes