Creative Shop Talk Podcast Episode 165: Simple Sales Strategy Series: Average Order Value
With Retail Coach Wendy Batten
Listen on: Apple Podcasts |Spotify | Radio Republic | YouTube | PlayerFM | Stitcher | iHeartRadio
Show Notes:
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 tracking 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 to find your average order value.
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 episode 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:
- Make a “bestsellers list” and display it in the shop.
- Ensure staff is trained properly on your core products.
- Merchandise to SELL.
- Complete a customer journey map. (Episode 144)
- 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. As a member, you will have full access to all of my masterclasses, once-a-month group coaching, and a monthly Roundtable discussion with other members of the group. Plus, our Facebook community is vibrant with heart-centered business owners. It’s an incredible group of people who are always sharing ideas and helping out. I’d be honored to have you.
Related podcasts we think you’d 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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