The Secret to Unlocking Growth for High AOV Stores
If you sell a higher price-point product, you may feel like you’re on a never-ending quest to boost your conversion rates. We talk about this a lot in the Inner Circle. So many of our members who sell higher priced items struggle to get their conversion rates to what they think should be “normal.” So if this is you–this episode might be your A-HA moment.
Meet Ana Bolanos, a thriving e-commerce entrepreneur just like you. She runs Limbo Imports, a haven for high-quality (and high-ticket) hammocks. Ana started selling her artisan-made cotton hammocks on Etsy and her own website at the same time. But even after reaching 6 figures on Etsy, she could not seem to move the needle on her own site.
Something Ana had to make peace with was that her conversion rate might never increase to that of a lower price point store, but that didn’t mean she had no options for growth. Here’s what she learned about succeeding with a luxury-priced item.
It’s All About the Audience
Let’s face it–high AOV stores aren’t your typical e-commerce ventures. You need those special customers willing to invest in your premium products. Ana, too, struggled at first. Her aha moment? Targeting *the right* audience. By refining her ad audience and emphasizing income levels, she attracted the folks who could genuinely appreciate her artisanal hammocks.
Ana says the real game-changer for her paid efforts were Google Performance Max ads, which allowed her to really refine her audience targeting and ensure that her ads were shown to an income level that could afford her products.
From looking at her sales data, she made an educated guess that many of her customers were purchasing gifts. So she made it easy for gift-shoppers to find that perfect thing by putting a Best-Sellers Collection right at the top of her site. It gives customers the confidence to choose something the giftee will love, without overthinking it.
Persistence Pays Off
Have you ever seen an ad for a couch on social media, clicked it, and purchased it right away? Neither do most people. Ana knew that her hammocks were a bit like furniture–they required some time and consideration before customers were ready to pull out their credit cards. She realized that if she wanted to convert customers, she would need to show up for them consistently, over a longer period of time. Engaging through email marketing, social media, and retargeting ads, she kept her brand in front of potential customers so that when they were finally ready to make a decision, her store was top of mind (and top of inbox.)
Start with the Right Margins
The foundation of Ana’s success was setting her prices right from the get-go. You need those margins to support your marketing efforts, especially the extended retargeting campaigns that keep your brand top of customers’ minds.
Quality Over Quantity
When selling luxury items, it’s essential to assure potential buyers of your product’s quality. Ana did this through impeccable product descriptions, well-placed FAQ sections, and stunning images that showed multiple angles and detail shots of the product. The goal? Make sure her customers knew they were getting a top-tier product. She also tweaked the language in her ads to emphasize that her products were designer, handmade, and 100% cotton.
Ana noticed that she was getting the same questions from customers over and over again, so she added an FAQ section to her product pages. This did double duty–she was able to bust potential objections with timely information, while boosting customer confidence by reassuring them that she would stand by her products.
Upsells For The Win
Ana’s secret weapon? An upsell app. She was able to squeeze out an extra $20 from many of her customers. That boost to her Average Order Value, when applied to each and every order, added up to a major bump in overall revenue.
Adding a Little Extra
Ana also ventured into the world of licensed university hammocks, opening up new avenues for growth. By expanding your product line smartly, you can tap into different markets and multiply your success.
Putting It All Together
Let’s talk next steps…maybe it’s time to reassess your pricing, optimize your ad strategy, or add some FAQs to your website. Ana’s journey showcases that with persistence, the right audience, and a bit of creativity, you can overcome the challenges of high AOV e-commerce and achieve remarkable success.
Remember, it’s not always about the quantity of sales; it’s about the quality of your strategy. Keep these valuable lessons in your e-commerce toolkit as you embark on your journey to higher conversion rates and increased profitability.
Ready to discover even more strategies for your high AOV e-commerce store? Connect with Ana at www.limboimports.com for inspiration and insights.
Your e-commerce success story starts here.
3 Genius Strategies to Increase AOV: https://thesocialsalesgirls.com/3-genius-strategies-to-increase-your-aov-episode-72/
Pricing to Maximize Profit: https://thesocialsalesgirls.com/pricing-to-maximize-profit-episode-167/
Forget Everything You Think You Know About Pricing, And Be Profitable: https://thesocialsalesgirls.com/forget-everything-you-think-you-know-about-pricing-and-be-profitable-episode-43/
3 Reasons Why You Can’t Ignore Google’s Super Smart PMax Ads: https://thesocialsalesgirls.com/3-reasons-why-you-cant-ignore-googles-super-smart-pmax-ads-episode-181
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