Episode 498: 5 Ways to Increase Your Order Value During Your Black Friday Promotion
Marketing is hard work. It takes a lot of time and energy to acquire a new customer.
And while we wish every customer would become a repeat customer, many just buy once and are never seen again.
So what if, instead of putting in a lot more work to acquire another customer, you put in a little more to get a newly acquired customer to spend even more with you than they originally planned?
I’m talking about increasing your Average Order Value (AOV).
In today’s episode – I share with you 5 Ways to increase your AOV and make a lot more money with only a bit more work.
I start the episode talking about my big move and why I have a new studio! I also share that there are big changes coming to Flourish and Thrive, so stay tuned for announcements and updates in the next few weeks.
The holidays are upcoming, and this is the time of year when most Jewelry sellers make their biggest sales of the year. So, increasing your Average Order Value can result in big, big gains. This episode is all about sharing human and tactical ways to increase your AOV.
If you want to make sure your holiday marketing goes off without a hitch, let us help with our Holiday Sales Machine Marketing + Content Bundle. You’ll receive:
- Notion template for your marketing calendar
- 90 days of done-for-you social content
- 90 days of done-for-you email broadcast templates
- 30 Canva designs for your social media
- Gift guide Canva template
- 60 scroll-stopping hooks for social media
- How to Plan Your Marketing with Chat GPT guide
- More in-depth Increasing your AOV guide
- Full Black Friday-Cyber Weekend prep guide
We're currently running a 50% off FLASH SALE that ends today. So now is the best time to grab this for yourself.
I think you’ll be surprised how very reasonably priced and inexpensive the investment is. We wanted to price it to support as many people as possible.
Next, I give you a sneak peek of next week’s podcast: I’ve been talking with a manifestation coach and she told me “Your setback is your comeback”. I’m currently reinventing myself and my business, and while logically I know she’s right, it sure doesn’t feel that way. If you feel the world is “freaking” weird right now – you’re going to want to tune in next week.
The first strategy for increasing your AOV is bundling products together. I give examples of complementary products and how to use technology to do it for you. I also share how to do it “the human way” by showing you how to reach out personally to your customers and what to say. If you do this strategy correctly, you can realistically expect a 20% increase in your AOV.
The second strategy is to offer a tiered discount – a spend-more-save-more promotion. I give an example of a company that did this particularly well and the specific things they did that made their sales so successful. I also offer alternative options if you don’t have the technology to do this automatically or want to approach it differently.
The third strategy is to leverage personalization and customization. I show you ways you can turn customization into an experience that drives home the value you are adding and lets the customer fall in love with the item before the purchase.
The fourth strategy is all about getting your customers to spend more on behalf of someone else they know. You get the benefits of a referral but with the money now instead of later. I give you ways you probably haven’t thought of to incorporate gift cards and their like using automated processes that increase your AOV for you – even when you’re not working.
The fifth strategy is to add urgency with limited-time offers. I share different ways to release items and add a human experience, both in person and digitally. I also give ways for you to use this strategy in your marketing.
If you’re not sure how to do this, you can grab our Holiday Sales Machine Marketing + Content Bundle where you can find done-for-you templates on everything you’ll need for your Holiday strategy. And if you’d like to join hundreds of other Jewelry creatives and receive accountability and support, the Jewelry Marketing Collective is currently supporting our members in preparing their social media, email marketing, and websites for the upcoming Holiday Season.
xo, Tracy
Sponsor Spotlight!
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This October and November in the Jewelry Marketing Collective, we are supporting hundreds of Jewelry Creatives by giving them our proven Holiday Marketing & Sales Strategy, broken down step-by-step for easy implementation.
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Links:
Holiday Sales Machine Marketing + Content Bundle
5-Step Holiday Sales Playbook Masterclass
The Jewelry Marketing Collective: 30-Day Holiday Marketing Strategy Challenge
Buy My Book: The Desired Brand Effect