The average order value is simply the average amount of money that a customer spends in your store. Average order value is just one of several metrics in the eCommerce formula, which results in Revenue = Traffic * Conversion Rate * Average Order Value
If you’re reading this blog there is a good chance you manage an eCommerce store and are looking for ways to optimize your eCommerce store.
All businesses need to make money to survive so there is no shame in saying your business needs to hit a specific target to survive. Some eCommerce stores are killing it month to month and COVID-19 has only helped! On the flip side, some are not performing and are struggling to stay alive.
Countries around the world have implemented a similar form of social distancing or quarantine measures. Looking at history books, humans have always been fighting with infectious diseases. While major global outbreaks like Spanish flu, Smallpox, and HIV / AIDS are rare, those epic viruses are the ones that changed the world.
It has been more than a month since the lockdown and physical distancing restriction was enforced. We have seen how retail giants like Myers, Big W, and JB Hi-Fi experiencing online sales growth during the lockdown, which was once a small contributor to their revenue. It looks like when people are locked inside and income was halted, their spending habit remains consistent. As we successfully stayed at home and flattened the curve, the public is waiting to return to their normal lives like before.
We all have gone through tough days following the work from home and social distancing rules to flatten the curve. As a result, Australia became one of the first few countries to recover from the pandemic. We have learned a lot of valuable lessons from COVID-19, and one of them is the power of online channels.
It has been a few weeks since the social distancing rule was enforced. The public now shares one common enemy, which is COVID-19. Different types of industries in the economy are impacted by this pandemic. Some, experiencing a positive impact, while most are experiencing a negative impact.
eCommerce conversions are broken!
Make sure your e-commerce platform converts as they should. Learn what is the biggest issue for marketplace underperformance and how to overcome it.
If you don’t get enough conversions out of your digital marketing efforts, it is essential for online businesses with digital marketing campaign focus on conversion rate optimizations. Here is a list of 9 effective ways, you need to follow to ensure your increase conversions online.
Conversions are a critical element to any business that wants to take their online strategy seriously, they can either make or break your business. What is the point of having thousands or millions of customers on your website if it does not convert them into sales or leads?
2018 is well into the connected generation. Having an online presence has never been more vital for both B2B and B2C businesses. Businesses that are using their digital channels correctly are seeing an abundance of value creation and increased lead generation. Having an online presence with an excellent customer experience and customer discovery can provide businesses with valuable data, business insights and of course sales qualified leads.