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Increase Revenue and Grow your Business with 3 Key Performance Indicators (KPI's)

Module 2, Lesson 1: What is the AOV?

Increase Revenue and Grow your Business with 3 Key Performance Indicators (KPI's)

Module 2, Lesson 1: What is the AOV?

Course content (20 lessons)

Module 0: Overview

Module 0, Lesson 1: The goal of the course 0:56

Module 0, Lesson 2: Why you need to have clear KPIs to scale1:00

01 |Module 1: What Really Matters

Module 1, Lesson 1: How much does it cost to acquire customers?1:38

Module 1, Lesson 2: The secret formula1:31

Module 1, Lesson 3: The KPIs that double your revenue0:35

02 |Module 2: How to Improve KPI #1 (Average Order Value)

Module 2, Lesson 1: What is the AOV?1:09

Module 2, Lesson 2: Product page1:34

Module 2, Lesson 3: Cart page1:47

Module 2, Lesson 4: Checkout1:35

Module 2, Lesson 5: Thank you page and post-purchase2:06

Module 2, Lesson 6: AOV for single product store0:56

03 |Module 3: How to Improve KPI #2 (Frequency)

Module 3, Lesson 1: What is the Frequency (F)?0:39

Module 3, Lesson 2: Subscription business model1:01

Module 3, Lesson 3: Email and SMS Automation1:22

Module 3, Lesson 4: Loyalty program1:30

04 |Module 4: How to Improve KPI #3 (Conversion Rate)

Module 4, Lesson 1: What is the Conversion Rate (CvR)?1:35

Module 4, Lesson 2: The 6 Cialdini Principles0:50

Module 4, Lesson 4: The Fogg Behavioural Model1:27

Module 4, Lesson 5: Conclusion and Next steps1:16

Module 0: Overview

Module 0, Lesson 1: The goal of the course 0:56

Module 0, Lesson 2: Why you need to have clear KPIs to scale1:00

01 |Module 1: What Really Matters

Module 1, Lesson 1: How much does it cost to acquire customers?1:38

Module 1, Lesson 2: The secret formula1:31

Module 1, Lesson 3: The KPIs that double your revenue0:35

02 |Module 2: How to Improve KPI #1 (Average Order Value)

Module 2, Lesson 1: What is the AOV?1:09

Module 2, Lesson 2: Product page1:34

Module 2, Lesson 3: Cart page1:47

Module 2, Lesson 4: Checkout1:35

Module 2, Lesson 5: Thank you page and post-purchase2:06

Module 2, Lesson 6: AOV for single product store0:56

03 |Module 3: How to Improve KPI #2 (Frequency)

Module 3, Lesson 1: What is the Frequency (F)?0:39

Module 3, Lesson 2: Subscription business model1:01

Module 3, Lesson 3: Email and SMS Automation1:22

Module 3, Lesson 4: Loyalty program1:30

04 |Module 4: How to Improve KPI #3 (Conversion Rate)

Module 4, Lesson 1: What is the Conversion Rate (CvR)?1:35

Module 4, Lesson 2: The 6 Cialdini Principles0:50

Module 4, Lesson 4: The Fogg Behavioural Model1:27

Module 4, Lesson 5: Conclusion and Next steps1:16

What is the AOV? AOV represents the Average Order Value or Average basket size. Higher is the AOV higher is your revenue on day 0. There are a few reasons why you can have a high AOV. Could be because you are selling expensive products or simply because customers purchase more products within the same orders (think about a grocery store that sells very low price products but usually you buy a lot which makes the average order value higher).

[MUSIC PLAYING] Great, we are getting to the exciting part. From this module, we will see what action and tactics you can implement to increase your three KPIs. In this model, we are going to focus on the average order value. This represent the average basket size per order. Higher is the AOV, higher is your revenue on day zero. AOV can be higher because you actually sell expensive product.
Or it can also be higher if you're able to sell more product to the same customer within the same order, of course. Let's make an example. If you sell $40 protein powder, and you add $3 shaker, and $2 protein bar, you increase your average order value to $45, and shipping costs remain the same. What does it mean? More profit, more revenue.
Which are the key section of your store where you can implement specific tactics and increase your average order value? Product page, card check out, thank you page, and post purchase.