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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