Jul 10, 2023
With host retail coach Wendy Batten
https://wendybatten.com/podcast-intro/
Welcome to part 3 of the Simple Sales Strategy
Series! Today, we are digging into your average order value.
Your average order is likely a number that your POS system is
reporting for you. It is the average value of all of the sales you
make in your shop over a specified period of time. Simply divide
total revenue by the number of orders.
Many retailers think they don’t have any control over
what customers are spending in their shops, but guess what? You
absolutely do. What if you could increase each of your sales by 2%,
5%, $10…? What would that mean for your business?
This isn’t about getting “salesy” or being
manipulative. It’s about making sales. We are here to run and
optimize profitable businesses while serving our customers in the
best ways we can.
Here are just a few ideas for increasing your average
order value without feeling salesy:
1. Make a “bestsellers list” and display it in the
shop.
2. Ensure staff is trained properly on your core
products.
3. Merchandise to SELL.
4. Complete a customer journey map. (Episode 144)
5. Have a grab and go section at checkout.
Your Homework:
Use your POS system to figure out your average order
value over a specified period of time. Then, figure out where you
want it to be. Next, figure out HOW you are going to change your
marketing strategy to get it done. Which tactics are you going to
employ to get your AOV up while serving your customers with a
better shop experience? If everything else stays the same in your
shop (foot traffic, conversion), what would this increased number
do for you?
We are deep diving into all of this inside of my
Retailer’s
Inner Circle this month and having a ton of fun doing it. Want
to join us? You can! The doors are always open in the Inner
Circle.
Related podcasts we think you’ll like:
Episode
164: Simple Sales Strategy Series: Foot Traffic and
Conversion
Episode
163: Simple Sales Strategy Series: Where to Start
Episode
144: How to Create a Customer Journey Map
Episode
118: How to Create Loyalty and Amazing Customer Experiences
with Guest Expert & Author, Shep Hyken
About your host, Wendy Batten
In case we haven’t met yet, I’m Wendy, a small
business coach and founder of the
Retailer’s Inner Circle, where I help other independent shop
owners learn how to gain the right business skillsets to see more
profits, paychecks, and joy as they navigate running their retail
business.
Through online classes, business coaching programs,
speaking, and a top-ranked podcast,
I’ve helped hundreds of retailers around the globe reclaim their
dream and see the success they want from their beautiful shops. My
signature private coaching community, The
Retailer’s Inner Circle, has helped retailers around the world
build their retail business skill sets and confidence.
I am proud to have been featured in several major
publications, including my own business column in What Women Create
magazine. I have been privileged to be a guest on top-ranked
podcasts and sought-after as a guest speaker and teacher for
several brands, associations, and communities that are passionate
about the success of independent retailers.
When I’m not coaching, you will find me either DIYing
and renovating my very imperfect old crooked cottage by the sea in
the UNESCO World Heritage town of Lunenburg, NS, or blogging about
our travel and RVing adventures and the weird fun things we get up
to in our coastal village. I’d love to invite you to check out one
of my free resources for real retailers at https://wendybatten.com/free-resources/
For more support from Wendy
Retailer’s
Inner Circle – Join Wendy inside the best retailer’s
community
Wendy’s FREE Resources
for shop owners
Hang out and connect
with Wendy on IG
All of Wendy’s programs and services for shop owners
can be found HERE.
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