One of the values you can manipulate to increase your turnover exponentially is to look at the average amount of money a customer gives you when making a purchase from you.
The question is: why is it one of the most valuable and exploitable data of all direct response marketing?
Answer: it is a datum to be monitored carefully, because it reveals to you how much you can afford to spend to generate a new customer without going to loss.
Understanding how to increase the average amount of money collected per transaction can improve your company's balance sheet - it allows you to spend more to acquire new customers, attract more of your competition and earn more money and faster.
That's why the biggest entrepreneurs on the planet are constantly working to increase the average amount obtained from each transaction.
And you should do the same.
Always bearing in mind that after the first sale to acquire the customer, the rest that you can sell them is practically all the extra margin that enters the company.
Knowing your numbers, in fact, if you sell a single product, for example, you can offer a package with two products at a discount, increasing immediately a higher profit than is possible with the sale of the first product only.
Do you sell a trial version for free or € 1?
Offer people to pay in advance now at a discounted price compared to what they would pay after the free trial, or offer a bonus valid only for one day to get them to buy first.
Basically, whatever you are offering it is your duty to give people the opportunity to have more. Maybe a bigger version or something more inside.
Or you could think of a surprise offer, including a congruent extra with the purchases made by the customer and the possibility to easily add it to your order.
To do this, the offer must be at least a 30% cheaper than the first one and must absolutely be a perfect companion of the main product that the customer has bought, perceived to be of high value and priced low, to make it as much as possible a purchase impulsively.
When done correctly, this type of strategy manages to increase the average amount per transaction of your customers.
But that's not all ...
... for example ...: have you just discovered the upsell technique?
Instead of setting your first upsell as something super-expensive compared to the main offer, start with an offer that you add to the purchasable with a high discount rate (up to 80%).
So if you do it right and offer your client that he has just bought an upsell of this type along with his first purchase at a fraction of what he just paid, the average amount per transaction will soar upwards.
What do you do if they don't buy the upsell you prepared?
For example, you can try to make an offer 48 hours after their purchase and give them the second chance to buy the offers they refused in the first place.
And these are just a few systems to increase the average amount per transaction. It is not an exhaustive list, there are obviously others. These are simply basic and you should start here.
Used individually, they can discretely increase the average amount per transaction.
Used in combination ... they can overturn the fortunes of your business.
Have fun experimenting on your business and let me know how you feel!
P.S.: If you want to know more about how you can systemize your business and gain much more than you could even ever imagine, just send an email to firstname.lastname@example.org . A Tutor will help you with all the information you need to make your experience with us extraordinary.