The acronym AOV refers to Average Order Value.
This eCommerce metric is particularly interesting because it indicates the average monetary value of orders over a time frame.
AOV is then calculated by dividing total revenue by the number of orders received in that time frame.
In many industries, the acquisition of a new customer has very high costs, and it is becoming increasingly important to optimise their acquisition, trying to increase their value over time.
In this case, AOV – Average Order Value is one of the KPIs to work on in order to develop effective marketing strategies.
Web personalisation and marketing automation are undoubtedly two winning cards to put in place as they enable, just to name a few activities:
- effective up-selling and cross-selling strategies;
- personalisation of offers, promotions and communications;
- effective fidelity programs;
- creation of time-based bidding.
