Monthly Archives: November 2014
How to increase basket values or Average Transaction Value (ATV) isn’t always the most talked about measure in marketing, but maybe it should be. Increasing ATV is challenging, but driving higher value purchases and higher volume can be a natural outcome of meaningful one-on-one connections with consumers. The following are some tips for increasing basket values:
Make two-way dialogue easily accessible.
Live chat is a great asset to a retail website, providing consumers with an opportunity to have their questions answered on the spot. If live chat isn’t available, incorporate a comment section that is vigilantly monitored. With instant dialogue, consumers can quickly get the information they need to follow through with a purchase. Establishing dialogue will put customers at ease with their purchasing decisions, build trust and help to further develop lasting rapport between merchants and consumers.
Introduce sales or bonus items during checkout.
Introduce special offers without disrupting the checkout process. This method of increasing basket values has proven highly effective for several large companies, with basket values sometimes increasing by an average of $40. Offer Free shipping for a minimum purchase value of $100 or $200. Covering the small cost of shipping can result in much larger checkout baskets.
Create a loyalty program that gives customers incentives to continue shopping with your brand. Offer significant rewards, such as a deep discount on the next purchase, after reaching a certain spending amount.
Rather than just wonder how to increase basket values, try these tips and watch the ATV of your customers grow.
Communicate and Customize.
Offering a Social Login is great way to customize your site to returning customers. Offering a Welcome back message ” Hi Tim ” makes the customer feel special upon return back to your site. Research has shown that customers that feel appreciated, will spend more and more often.
Showcase customer feedback.
Peer reviews are trusted up to 12 times more than descriptions of products by manufacturers, showcasing reviews and comments on product pages is a great way help conversions. Placing additional products or creating a additional products page between your checkout and products pages will allow for the last impulse buy from you customer and a quick click to add to basket increasing ATV.