A few years ago we were broke university students. Living in a place of Eastern Europe nobody knows - Lithuania. Fast forward a few years, we’re founders of AdKings Agency. An industry-leading boutique eCommerce growth agency responsible for one of the fastest-growing US eCommerce brands and taking it from $0.5M to $26M in a single year without any external funding. Now we’re working on helping to grow and scale a dozen other eCommerce businesses to 8 or 9-figures. Managing over $18M in paid media ad spend a year and delving deep into sophisticated eCommerce exits, investments, and acquisitions world. Our world is intense, crazy, ever-changing, and challenging. This podcast is simple. Every week we, Darius, and Justin are going to open up our & our agency lives. We’re going to share behind the scenes insights about what makes our clients' businesses grow at the speed they are growing. We’re going to share our best-learned marketing methods, channel insights, and growth hacks that took us millions of dollars to figure out. And we’re going to open up insights from our client's business development strategies from operations management to raising capital that supported this growth. Nothing held back to help you transform your business into an 8 or even 9-figure powerhouse. Are you ready to click play? - Darius Kunca & Justin Gecevicius 👉 We're releasing new episodes every Monday, Wednesday & occasionally Friday.
Episodes
Wednesday Apr 07, 2021
Wednesday Apr 07, 2021
A bigger profit margin may lead you to hit the ceiling, but there are situations where it becomes a secondary metric. You must not forget the importance of AOV (average order value).
Today we’ll be talking about the situations in which a higher AOV is more important than profit margin, and how you can leverage this knowledge to improve both metrics.
On this episode:
- A client’s experience as an example in comparing profit margin and AOV.
- Comparing and contrasting two cases with differing profit margins and AOVs.
- When it’s better to have a higher AOV.
- Why having a higher AOV allows greater room for error.
- Ways to increase AOV such as bundling.
- The option of testing and targeting new audiences when scaling.
- How can having a higher AOV helps to cover your fixed fees?
- Reasons why a higher AOV can help you become more profitable as your business scales.
- Specific situations when AOV becomes especially important.
- What AOV you should be aiming for in your business.
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