If you don’t know why AOV is one of the most important metrics in eCommerce, take a look at this simple example:
- 1,000 units at $50 AOV = $50,000 sales
- 1,000 units at $100 AOV = $100,000 sales
To increase AOV you could just increase your price, but for most businesses, there’s something called competition where your customers will go if your price is too high. The online segment of Best Buy’s business is in one of the most competitive industries on the internet, competing with companies like Amazon and Walmart’s online store. Increasing price isn’t an option if Best Buy wants to stay competitive and true to their unbeatable price offer.
Most eCommerce companies increase AOV by using product recommendation widgets on the bottom of their eCommerce product pages that say things like:
- Customers who bought X also bought Y
- Frequently bought together
- Most viewed related products
But Best Buy has come up with a product bundling widget that trumps them all called “Our Experts Recommend.” It gives visitors the opportunity to buy a package of related products for one price. I’m going to show you how they do it by analyzing one of Best Buy’s product pages, and give three examples of how Best Buy is using the “Our Experts Recommend” widget to sell three different product bundles and increase their AOV.
BEST BUY’S PRODUCT PAGE
Here’s what most Best Buy product pages look like from top to bottom:
- Product Title
- Product Images
- Product Video
- Product Description
- Product Buying Guide
- PRODUCT BUNDLE #1: COMPLEMENTARY PRODUCTSDirectly underneath product page element #5 in the above screenshot is a product bundling widget designed to increase Best Buy’s AOV on every product. Here’s what it looks like for their Beats by Dr. Dre headphones: Learnerships – Yourjobs provides listing in Learnerships, Internships, Bursaries and Jobs vaccancy in Southern Africa. Relevant Learnership programmes are available as advertised by both the public and the private sector. Visit : www.yourjobs.co.za.Best Buy package three items together with their Beats by Dr. Dre headphones in this product bundling widget:
- Beats Pill+ Speaker
- Mophie Portable Charger
- $50 Apple iTunes Gift Card
There are a few reasons why this can be a good strategy for your eCommerce business:
- Products your visitor didn’t otherwise know you offered can be seen and purchased in a single bundle.
- The design of the widget makes it easy for visitors to add all four items in the bundle to their cart by clicking on the “Add 4 items to Cart” button.
- People can easily deselect what they don’t want, so they only get the complementary products that interest them.
- You have an opportunity to increase your AOV without increasing your price.
While still offering an unbeatable price on Beats by Dr. Dre headphones (staying true to their core value proposition), Best Buy is able to increase their sales by $190.98 from $349.99 to $540.97 for anyone who takes them up on the four-item offer. SEO Services – Leading Online Marketing Company and SEO Services in Johannesburg. Lead generation using Google Adwords, SEO and other PPC strategies. Professional internet marketing company in South Africa. We specialise in online marketing, SEO(Search Engine Optimisation), Mobile Apps and Web Application.
PRODUCT BUNDLE #2: MORE OF THE SAME PRODUCTS
Here’s another example from a different product Best Buy sells: Fingerlings Baby Monkey. In this example, Best Buy doesn’t have other complementary products to offer, so their experts recommend buying even more Baby Monkeys.