looking for the best method to increase Average Order Value on your e-commerce, you often meet the definition of cross-selling. Did you know that there is a method by which you can get to know your customer better? Let us explain it to you. See how it looks in practice and how you can apply it on your own e-commerce using intelligent recommendations.
cross-selling is a strategy based on offering products and services in addition to the primary selected product that could be bought together.
In cross-selling usually the main focus is on selling products or services that are complementary to the primary chosen product. It helps customers to make a decision about an additional purchase giving them satisfaction at the same time.
Strategy works best when we know the customer’s preferences. It can be done after analysis of their previous purchases or by qualifying them into specific groups of customers defined before.
Average Order Value (AOV) is the average amount which a customer leaves after a specific transaction on your e-commerce. Usually though in online sales the most popular metric is a conversion rate but the AOV it's no less important and it’s good to keep it optimized.
Conversion rate otherwise known as average amount of conversions by one interaction with a shop expressed as percentages. In e-commerce, usually it’s a number of sales transactions divided by the amount of sessions. Most of companies take care about increasing their conversion and therefore an increasing number of transactions
Strategy model allowing for real growth includes not only increasing a conversion rate, but the increasing average order value too and up-selling or cross-selling just lead to this.
To właśnie cross-selling umożliwia bezpośredni wpływ na średnią wartość koszyka.
We can find examples of cross-selling everywhere, in every industry. From electronics (like set builds of a laptop, case and mouse), to the garden industry (for ex. combination of seeds, land, flowerpot and fertilizer).
Fashion seems to be the main industry for cross-selling. Clothes are products which we use everyday in large amounts. This is where their mutual fit is important to us. Based on that, what most stores can offer are simple combinations of products based on categories (ex. dress + handbag + shoes).
The problem, however, is that while electronics don't necessarily give each other a sense of visual consistency, no one is going to wear a dress with extremely mismatched shoes. Hiring a specialist to create outfits for each product on a regular basis and then implementing them in production sounds like a horror story. So how can you approach increasing the AOV without involving human and financial resources to such an extent? It's worth hiring technology to do it.
artificial intelligence is now well established in e-commerce. Although its use in the fashion industry in Poland is still negligible. But foreign brands have been using it for a long time. Brands such as Zalando, create their own teams of engineers to develop Artificial Intelligence solutions to help it increase sales.
But how you can use artificial intelligence on your e-commerce? There are a lot of innovative companies on the market which are quickly developing the plug-ins for this job. It definitely can be done with the latest technology.
Cross-selling z użyciem Sztucznej Inteligencji | getdressed
getdressed intelligent stylist is a solution which you can easily implement into your e-commerce using Google Tag Manager. All you need to do is to send us your product feed. Then our Artificial Intelligence algorithms will start the process of learning your brand style. At the end of the process, they will be able to easily generate full outfits consisting of products from your e-commerce site.
Want to see how our AI will work on your e-commerce? Contact us and let's talk about business!
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