538. [MONEY TIPS] Think Outside the Card: Boosting Average Order Value

The Product Boss with Jacqueline Snyder

Jacqueline Snyder

Marketing, Entrepreneurship, Business

4.8 • 961 Ratings

🗓️ 8 December 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Hey, hey, Product Bosses! Today, we're bringing you another game-changing money-making tip, something we've been buzzing about in our programs, especially post-holiday season. It's all about maximizing sales per customer - a strategy that's too often overlooked. We're always on the hunt for new customers, but what about selling more to those we already have?

This golden nugget is about raising your average order value. Ever thought about offering your products in packs? Let's dive into the potential of selling multiples – think a pack of two or three. This tactic is a perfect fit for consumables, like body and beauty care. Imagine offering a pack of three chapsticks or body lotions.

The trick here is not just selling more but selling smartly. Position your products in a way that resonates with the customer's needs. For instance, if a single product lasts about 30 days, offer a three-pack to cover them for longer, ensuring they don't have to worry about running out.

Join us as we explore these innovative strategies to boost your sales by focusing not just on attracting more customers, but also on increasing the value of each sale. It's time to rethink and revamp how we sell!

Resources:

If you love saving and making money as much as I do, go to theproductboss.com/moneytips and I'll send you a tip each week to your inbox. I'll also throw in a recap of our top tips!

Connect:

Website: theproductboss.com
Instagram: @theproductboss

Transcript

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0:00.0	Hey Product Boss, Welcome to a special bonus series of the Product Boss podcast. Are you hunting for a quick
0:14.5	cash injection or a strategy tweak that can boost your weekend's revenues?
0:19.0	Oh my friend, you are in luck. We're going to be giving you quick, actionable money moves
0:24.9	sent straight to your podcast feed.
0:27.1	These methods are tried and tested.
0:29.8	We challenge you to implement them this weekend
0:32.4	and see the magic for yourself.
0:34.3	Remember, action takers or the moneymakers.
0:37.2	And not only that, but we want to hear from you.
0:40.1	Reach out to us on Instagram at the product boss and let us know what kind of results you saw.
0:45.2	So, ready to monetize your weekends? Let's dive in.
0:56.6	If you love saving and making money as much as I do, go to the product boss dot com slash money tips and I'll send you a tip each week to your inbox and I'll also throw in a recap of our top tips.
1:05.8	That's the product boss.com slash money tips. Hey, hey, product boss.
1:15.0	Okay, I'm coming at you with another money-making tip.
1:19.5	Now, this is something we've actually been talking about inside of our programs and especially as we went through the holiday season of how can you sell more to one customer versus all of us are always trying to get more customers and more
1:33.7	customers to buy from us versus how can we sell more and we typically call
1:37.6	all this raising the average order value right raising your cart value or
1:40.6	raising the average order value so I want to do a quick tip.
1:43.9	I want you to think about what product do you have
1:46.2	that you can sell multiples of.
1:48.2	So that would be a pack of two or a pack of three.
1:51.6	Now imagine this works really well for body and beauty care right if you're going to do
	...

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