The world of eCommerce is a competitive one and a successful marketing strategy is one of the best ways to get ahead.
It’s simple to say that marketing strategy is important, but much more difficult to determine which marketing strategy is best for you. Thankfully, this can be much easier when you’re making good use of data and statistics.
Many marketing techniques focus on increasing Average Order Value, or AOV. AOV isn’t the only important statistic, though. Increasing your customers’ Lifetime Value, or LTV, could be key to long-lasting success.
Here, we discuss AOV and LTV, as well as the best ways to improve both metrics for bottom line profitability.
Average Order Value: A One-Time Revenue Boost