If you ask an e-commerce store owner what is his main marketing goal, he will most likely tell you “to get more customers”.
That’s understandable, but here’s the thing:
More customers don’t guarantee more revenue and profits.
If all your customers spend $20 per order on average, and your profit margins are in the 30% range, you’d be making $6 per customer.
But if your customer spent $40 per order on average while keeping the same profits, you’d be making $12 per customer.
That $20 revenue jump isn’t hard to do, it only takes the right tactics and mindset.
If you recall, in the last article, I told you there are three keys metrics to a profitable e-commerce store:
- Number of customers.
- Average order value.