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Acquiring new customers and retaining existing ones helps boost revenue, but you should also do what you can to maximize their order values. Unfortunately, it's often hard to get customers to pile on items to their initial orders. If you can somehow increase the average basket size of your customers, you can significantly increase your revenue with each customer and order. High average order sizes will ultimately help your business directly, making this an essential metric to boost. Thankfully, there are plenty of means to help you increase average cart value, but Video Stories are among the most effective you'll find. There are several reasons I recommend this means in particular: Video Stories improve product discovery, decrease cart abandonment, maximize average basket size, and increase conversion rates.
We already know that video is a powerful marketing solution today. According to HubSpot, 62% of people thoroughly consume video content rather than skim it, but more people skim podcasts and written content. Also, 86% of businesses use video marketing today and 87% of marketers believe it has boosted their ROI. These and other stats show how important it is to use video for marketing campaigns. But while you might be aware of its benefits on engagement and conversion, did you know that it can help maximize average order values?
You can create video content for Video Stories on the Storyly platform to engage and convert customers on your website. These videos are critical in capturing people's attention and carrying them through the consideration stage. They can also help boost average basket size in numerous ways.
Here we'll review some strategies to help you increase average order values with Video Stories.
Video Stories drive more engagement for your website by entertaining viewers, but you can take this engagement a step further with shoppable videos that encourage people to "shop the look" from the influencers they love, which would entail buying multiple products at the same time to recreate the entire look. Using these videos, you might build a partnership with a popular influencer in your niche and feature a video of the influencer using, wearing, or otherwise engaging with your product. Audiences can then buy these items directly from the video in a seamless experience.
Using Storyly Shoppable Videos, you can record and stream interactive videos on your website without impeding your website's functionality or slowing load times. Additionally, you'll never experience any download speed issues after integrating Shoppable Video Stories on your website. Customers enjoy a frictionless viewing and shopping experience that leaves a great impression on customers while generating revenue.
One key feature that makes shopping through Video Stories easier than ever is the In-Story Checkout feature. This adds a clear call-to-action to your videos along with an instant cart builder and checkout platform. As a result, your videos function as little eCommerce platforms that allow users to view and shop for items within the same video in one easy step.
Together, Shoppable Video Stories with an In-Story Checkout feature can dramatically boost sales. For example, an influencer could create a video featuring them wearing various clothing and accessories that go together. They might don a designer jacket and an underlying shirt, along with compatible bottoms, a hat, glasses, and a handbag. You can bundle all these items together and entice customers to "shop the look" with all these products.
Another example might pertain to jewelry. A jewelry retailer might create a Shoppable Video Story featuring a particular influencer out in public wearing multiple pieces of jewelry in a compatible collection. The influencer can show exactly how each piece of jewelry would look when worn, from its fit on the model to the way it shimmers in the sunlight. This presentation would go a long way in impressing shoppers and allow them to buy the complete look, adding all items to their cart to maximize their order value and make for a convenient purchase, all without requiring the customer to leave the video.
There's no shortage of ways to drive sales with short-form Video Stories. One of the best ways to do so is to inspire shoppers using creative content that leads them toward a large purchase. For instance, your Video Stories can encourage people to buy products together in a bundle full of similar items.
An example of this could include a video for a grocery store chain that features a particular recipe that people can make. For instance, you might have a delicious pancake recipe with vibrant images that showcase the perfect result. You can even make multiple videos featuring your customers' best recipes, giving you the chance to repurpose user-generated content. For each recipe, you can list all the ingredients and allow customers to buy them in a convenient bundle for easy grocery delivery. This will also directly increase your average basket size as people purchase the bundle.
Bundling is also great for times like skin care products. A Video Story could feature a group of skincare items such as topical creams, exfoliators, serums, and sunscreens, highlighting the value of each. Customers could then buy all of these items together in a complete skin care bundle.
Bundling ultimately offers you the perfect chance to group related products when it makes sense. This makes things even easier for shoppers while maximizing basket value.
Looking for another way to boost your basket size? Getting your customers to make bulk purchases seldom fails. The main problem with driving bulk sales is the limited screen space to promote these campaigns and discounts, especially on mobile websites. Banners and carousels can only attract so much attention and engagement among visitors, particularly when it's hard to spot and use them.
If you want to get the most from bulk order campaigns and increase average order value, Video Stories are your savior once again. Using compelling Video Stories, you can easily highlight discounts in bulk purchases to demonstrate their value. Unlike static carousels and banners, you'll attract more attention with high-quality, dynamic video content that truly engages.
Via the Storyly Studio, you can create bulk purchase campaign video Stories and add CTAs on several relevant sections to boost engagement even further. Customers can then click or tap on these CTAs to buy the corresponding product with a single action.
Keep in mind that there's no limit to the types of discounts you can offer to increase order value. You're likely to see a big surge in sales with bulk orders using offers like:
Don't hesitate to get creative and find out which discount offers to drive the most sales and highest order values. You can even test these offers before officially launching them to see which ones get the best results.
Upselling is another way to maximize average basket size, and you can effectively upsell by offering something in return for customers. Relevant upsells can encourage customers to add items to their orders that might interest them, which can get more people to increase their cart size.
People also love promo codes, and there are statistics to prove it: Around 93% of people are likely to use some type of discount or coupon code within a year, and 75% of consumers check their email inboxes regularly just for great discounts. People enjoy these codes and discounts even more when brands personalize them, which is something you can do with Video Stories.
With the help of the Storyly platform, you can integrate promo codes and upsells into Video Stories to offer special deals on larger orders, which will increase basket sizes by a large amount in many cases. In addition, you can use countdown stickers that create a sense of urgency and harness the power of FOMO (fear of missing out). If people feel like they only have a limited time to purchase before a deal runs out, they'll be much more likely to add to their order to access the deal in time.
Let's look at another example to illustrate the power of Video Stories and personalized promos: Say you have several people who have visited the product page for a particular coffee machine –a great indicator that these people are looking for a coffee machine. To convert those casual viewers into high-paying customers, you can show them a video Story highlighting the advantages of buying multiple coffee filters and other accessories for the coffee machine, inspiring shoppers to get more out of their order. You can also offer promo codes to people who make these larger orders. To make sure these shoppers buy this item when promoted, you can add a countdown sticker to your video along with your limited-time discount. This is a sure way to get more people to maximize their order value.
You can also use Video Stories to offer different types of promo codes that appeal to specific customers. For example, you might trigger Video Stories for shoppers who have reached a specific level in your loyalty program. This Story could congratulate the customer for achieving this level and reward them with a promo code for a product or bundle of their choosing.
Again, getting creative here can be a great way to figure out which types of promo code offers to generate more sales and higher cart values among customers.
Generally, personalization is crucial when connecting with consumers. In an era when so many brands are trying to get people's attention and people are simply not interested in most, personalized experiences allow companies to stand apart.
Storyly makes it easy to set up personalized replenishment Stories that shoppers trigger after buying a certain item when they may need a refill or replacement. These Stories could feature the purchased item and might offer a discount for customers on a repeat order. You don't necessarily need to offer a discount, either—you can simply highlight the benefits of ordering the item again, encouraging the customer to make a quick second purchase with a few clicks. In addition, Video Stories can use in-app messaging to encourage people to buy an item they might be interested in based on order history or preferences, connecting them more directly with the items they're most likely to buy.
More people than ever want to see personalization today, as recent data shows. A Slideshare report revealed that 80% of people are more inclined to buy from companies that tailor their experiences. 66% of shoppers also expect brands to understand their unique needs as consumers, and 70% of them decide whether to stay loyal to brands based on how well the brand knows them.
Another great way to get people to add to their orders is to offer the reward of free shipping when orders reach a specific value. As an example, you might offer free shipping on orders of $100. If someone puts $75 worth of items in their cart, you can let the shopper know that they'll get free shipping by adding $25 to their order. Free shipping is often enticing to customers, especially if the costs are normally high.
Using Video Stories on your website, you can effectively advertise your free shipping campaigns. Stories could let people know that when they cross a certain threshold in order values, they'll gain access to savings through eliminated shipping costs.
Video Stories give you the perfect opportunities to connect with shoppers at every level. By using personalization to your advantage, bundling products together, creating unique promo codes, and pushing top-quality video content through Stories, you'll see a huge increase in basket size. You'll also get more customers to stay loyal to you, stealing your competitors' thunder with content that keeps people returning to you.
The Storyly platform makes creating the perfect Story easy and convenient. Simply record or obtain the videos you want to use and include them in your Stories and add the in-Story checkout feature to convert them into shoppable platforms. Video Stories also offers plenty of other capabilities, including features that allow for interactivity such as polls, surveys, emoji sliders, and more. They're also compatible with apps and websites, helping you take full advantage of Story capabilities regardless of the platform your business uses.
Also, as with any other type of marketing tool, I recommend you test your Stories to see which does the best among target audiences. Feel free to experiment and see which kinds of content and offers work to maximize your average order value. A/B split testing gives you the chance to run two different versions of a video together. You can then drop the one that underperforms and use the one that gets the best results.
Using a combination of Storyly and other innovative marketing solutions, you'll connect more directly with consumers and boost sales in the long term. You'll also keep up with the ever-changing eCommerce landscape as you work to acquire and retain more customers.