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What is Average Order Value? [Video]

What Is AOV?

AOV (average order value) is a key performance indicator that informs businesses of their customers’ purchasing behaviors. AOV tracks the average amount spent by customers every time they place an order or make a purchase. 

It’s a tool that can be used to help grow a business, particularly eCommerce entities. However, it’s often an overlooked factor that, when utilized correctly, can provide businesses with the right information to help them improve their marketing efforts and strategies.  

Why Is Average Order Value Important?

AOV provides valuable insight into consumers’ purchasing habits, as well as their buying patterns. Moreover, knowing the AOV enables companies to assess their current and overall marketing efforts and pricing strategies. This will help companies come up with better campaigns and strategies that are tailored to fit their customers’ purchasing behaviors. 

Having a higher AOV translates to increased revenue and profit. It also gives companies more financial …

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