From the course: WordPress: Ecommerce
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Increase your average order value - WordPress Tutorial
From the course: WordPress: Ecommerce
Increase your average order value
- [Instructor] Just as effective as getting new people to your site is to get them to order more per visit. There are a number of ways to do this, some of which are one time efforts, and some require ongoing work. One approach is price anchoring. The psychological effect takes advantage of a cognitive bias that people have where we place too much importance on a first piece of data presented, skewing data that is presented later. In the eCommerce world, we can use this to help your pricing strategy. If the first number someone sees is high, then all future numbers will look a little lower. That's why when you're at an electronics store, you'll see a $6,000 TV next to a $600 TV. Relatively speaking, that $600 TV looks pretty cheap. Even if you don't expect to sell many premium products, having at least one premium product in a line can make all the rest of them look far more affordable. Another technique that you can use to get a higher average order value is to upsell. Upselling is…
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