Boom that Average Order Value

Howdy readers!

Now, Shopify launches Linkpop, a ‘link in bio’ page with shoppable links🔗.

Linkpop now allows brands with Shopify stores to create free 'link in bio' pages for their social networks. Visitors can make purchases with only three clicks thanks to the integration of Shopify's secure checkout😮

Shopify says Linkpop allows brands “to lead customers to specific pages and products at the exact moment of interest in their feed, and then transform them from a visitor to a customer in seconds”.

Let’s dive into the newsletter! In this newsletter you will find:

💥Boom that Average Order Value

🔮The Retail Metaverse Is Heating Up And Here’s How you can make most of it.

🛍Product of the week

If you’re new to ScaleUP then a hearty welcome to you, you’ve reached the right place along with 5k+ CEOs, CMO, and marketers.😉 Let’s get into it, shall we? Oh! Before you forget, if someone forwarded this newsletter to you then don't forget to subscribe to our newsletter so you never miss out!

BOOM THAT AVERAGE ORDER VALUE

Are your customers mostly just one-time buyers? Is every recurring order almost the same value? Is increasing the average order value a challenge? Well the next 5 mins of this read, shall potentially be 10x your AOV!

And if you like what you read, reply with your views and ideas, we’d love to know your opinions 😁

Let’s dive right into the ways you can increase your AOV :

Now if you’ve been in the D2C space you know the 2 key ways of doing it!

📈UPSELL AND CROSS-SELL

Before we go ahead,

Upselling: This refers to giving your customers better options compared to their current purchases,

For example, Apple upsells its customers with a newly upgraded device every year, ( like how people go bananas during the launch of a new iphone🤯)

Cross-Selling: This is when customers are offered complementary products that can be used with the original purchase for a better experience.

For example: If you add a blade subscription on the dollar shave club website, the checkout page gives you recommendations on other things you can add to make your experience better.

Now that you know what Cross-selling and Up-selling are, here are the ways you can do them on your e-commerce platforms:

⏳ Time-bound Offers :

Creating a sense of urgency pushes the consumer to make a decision on their toes and with a good deal, it’s a sure sale.

This is even more likely to work with complementary products as we saw above.

(Yes we did get that entire skincare kit while looking for a moisturizer 🤪)

⭐ Add Social Proof :

The power of UGC ( User Generated Content ) is not just limited to social media.

People have the most impact on people, and, credibility increases with every positive review, so add those good things people have to say about your products to your website and let the magic begin 🪄 💵

 🤩 Suggest complementary products on checkout :

Just before the payment for their purchase, it’s a great place to give the customers recommendations on what they are probably missing out on.

This works best when the product recommended is going to make their experience better i.e., complementary to the actual purchase. Here’s an example of the same :

🥳 Give milestone discounts :

There are 2 ways this can be done :

👉Purchase frequency-based: You can add offers for people making X number of purchases, this incentivizes the customer to purchase more frequently.

👉Purchase value-based: You can add in offers for people getting their billing amounts to a certain value, this will automatically upsell and also make them repeat customers due to the value perceived.

🔀Give on-site product comparisons:

One of the most underrated things that make the purchase decision very clear for the customer is on-site product comparison.

This helps you upsell the upgraded, higher-valued product very easily as the additional value received for the additional amount paid is justified, thus increasing the chances of a person going for the latest upgrade.💰

Now try these out for the week and let us know if you see any progress in your AOV hike, but this is not all. So wait until our next edition for more interesting ways to boom your AOV…. 😁

SMOKIN TRENDING

The Retail Metaverse Is Heating Up And Here’s How you can make most of it.

Many people, including retail specialists who have spent their whole lives in the field, are unsure of what it means to be in the 'metaverse.'

When Facebook, Inc. changed its name to "Meta'' and announced multibillion-dollar💸 investments in metaverse technologies in October 2021, the metaverse surged into the public consciousness. However, there are many skeptics: Meta recognized that the metaverse "won't be developed overnight," and that metaverse product may take 10 to 15 years to "completely actualize."⏳

Now, let’s look at how small businesses can benefit from this.

⛓️ Digital hangouts

The transition to digital has been underway for some time. Many firms are already experimenting with online gaming🎮, where and how we consume movies or listen to music, and the transition to a "metaverse."

For many, thinking about platforms like Roblox, where shops are beginning to develop virtual real estate in the internet environment, is the easiest way to conceptualize the metaverse.

Forever 21👒, a fast-fashion retailer, has opened a virtual store on Roblox. Because the store was so popular, the brand decided to develop physical versions of the things sold online.

🥽Virtual and Augmented Reality

Online merchants have already introduced augmented reality (AR) to their e-commerce systems as a first step toward blurring the borders between the physical and digital worlds.

With AR apps from major retailers like Ikea and Wayfair, you can see how furniture and decor products might look in your house🏘️. ( A look from the metaverse)

One metaverse vision is a future in which all of these apps are integrated, allowing buyers to virtually try on make-up💄and spectacles👓 while navigating a seamless shopping path.

Digital platforms have begun to roll out tools to assist small businesses in delivering virtual experiences, so it's not just major brands embracing AR.

Shopify, for example, allows 3D models on product pages to allow shoppers to view things in augmented reality and has experts available for hire to assist in the creation of such 3D models.

📝Test, then test some more

This may appear overwhelming to a small firm, but a seismic shift in the last two years has increased access to the digital sphere across all generations.

Let's not leap right into building digital items; instead, let's test the market by creating hangout spaces. Make it a place where customers feel at ease, where they can ask inquiries, and where they can buy tangible things. Stick to what we're very excellent at, what you're familiar with - the items you offer."

🆙Examine and improve (There's always a place for improvement😁)

As a result of the pandemic, practically all retailers were obliged to embrace online selling rather quickly. Small firms should evaluate their online products and, more importantly, optimize their online presence now.

Small businesses may build a space where they can talk to their customers in a new way and bring items to them in a new location, with an immersive experience, much like they can open a store in a new town.🏙️

If businesses have just one thing to prepare for the metaverse, it should be to design a strategy for selling their physical product digitally. How can you combine a location in the metaverse where you can create an experience for your consumers.📱

Mega brands will be exploring the metaverse in 2022. They have a tremendous hunger for these projects and are spending a lot of money on them." Small enterprises must ensure that they do not fall behind.🌠

PRODUCT OF THE WEEK IS…..

Smartrr

Are you tired of strategizing on how to nurture your existing customers for recurring revenue? Well, Smartrr, The recurring revenue engine is your answer🥳

Smartrr creates beautiful, branded membership and subscription experiences for DTC brands 💯

Its membership management system, that not only allows customers to track orders but also has your back when it comes to post-purchase emails and SMS. Upselling members with one-time add-ons is also possible, as well as product swaps for those who want to try something new. (Yes🤩)

Beyond this, Smartrr uses Shopify's native checkout and account experiences, giving customers a frictionless buying and login experience.

Not only this, Smartrr's admin site provides one-click management of subscriptions, users, products, and discounts, as well as real-time subscription data such as cohort analysis, retention matrices, product insights, and attribution.

What’re you waiting for? Go make your eCommerce portal Smartrr!

Click here for a demo!

NEWS UP

👟On will partner with Dick's and will launch new products as part of its significant expansion.

🖼️Pinterest will allow creators to export their video content to other platforms.

💰Zestworld raises $9.3M to give creators a comic-optimized newsletter platform.

🐵Reddit’s new Discover tab pushes the app into the modern social media era.

🎥TikTok is rolling out its Snapchat-style stories to more users

QUICK BITES

↔️4 ways to repurpose content for email marketing campaigns.

🔮What Makes a Company Future-Ready?

🥉3 Tips For Entrepreneurs On Building A Brand In The Metaverse.

We'd love to hear your thoughts and feedback on this newsletter🤗. If you have any suggestions, please reply to this email, and we will see you on Friday ✨

Have a great week and see you soon👋

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