The Art of eCommerce Upselling
The ultimate guide to the art of eCommerce upselling: what it is, how to do it well, and where it’s heading.
Offering options that add value to your product or service, improve your customers’ life and increase your average order value.
Upselling is when a seller encourages a customer to spend more than they had originally intended. This can be achieved by recommending a higher priced alternative, by providing options as add-on sales or by bundle sales. Each of these practices can be seen as separate strategies in their own right.
Let’s cut to the chase;
Why should you start using eCommerce Upselling?
According to one Forrester research analyst, product recommendations like upsells and cross-sells are responsible for an average of 10-30% of ecommerce revenues.
INCREASE AVERAGE ORDER VALUE
Average order value (AOV) tracks the average dollar amount spent each time a customer places an order on a website or mobile app. To calculate your company’s average order value, simply divide total revenue by the number of orders.
INCREASE REVENUE PER VISITOR
Revenue per Visitor (RPV) is a measurement of the amount of money generated each time a customer visits your website. It is calculated by dividing the total revenue by the total number of visitors to your site, and it is a method of estimating the value of each additional visitor.
BCS Technology’s ‘Intelligent Referral Flow’ uses technology on Azure and Cloudera to provide industry leading data processing times to further reduce cost.
- PREDICTIVE ANALYSIS
Predictive analytics is the branch of the advanced analytics which is used to make predictions about unknown future events. Predictive analytics uses many techniques from data mining, statistics, modelling, machine learning, and artificial intelligence to analyse current data to make predictions about future.
- MICROSOFT AZURE AND CLOUDERA
Microsoft and Cloudera are collaborating to help customers realize big data insights with the cloud. Now Azure customers can deploy Cloudera Enterprise with a few clicks, visualize their data with Microsoft Power BI and gain insights to transform their business – all within minutes.
Get started with eCommerce Upselling with Predictive Analytics
Intelligent Referral Flow increases transaction profitability and revenue by using predictive models to display cross and upsell options that users are more likely to choose based on behaviour.
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