1. Increased average order value from dynamic accessory upsells balanced out profit margins.
It’s hard enough getting all of the right descriptions, attributes, specifications, images and other assets ready for the benchtop equipment itself let alone the accessories. However, it’s well worth the time invested.
For items we were able to add all of the accessories on and dynamically present them as an upsell at checkout the average order value was increased by nearly 25%.
Leveraging automated follow-up emails to customers who did not add the accessory to their cart during checkout accounted for nearly half of those upsells.
On-site merchandising of the accessory upsell via dynamic pop-up banners did not contribute to as much volume as the two methods above, but the conversion rate on them was very high.
Once there are 500 unique purchases of a specific product, or group of products that have the same accessories to upsell, then pixel based remarketing campaigns across Google Display, LinkedIn and other networks will be very profitable. So, do not forget to add in the tracking pixels today from those ad networks so the data is starting to be collected.
3 Surprises in July 2018 that ILDA members could learn from and mistakes to avoid while growing the Lab Equipment marketplace