Creative & Useful Ways To Increase Your Average Order Value

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May 1, 2024 • 38 mins

In this episode, Greg speaks with Garrett and Sarah, founders of Duncan and Stone, a company specializing in memory books and journals. They discuss their accidental journey into entrepreneurship, sparked by a need for non-cheesy memory-keeping solutions. They started with baby books designed during a playdate and expanded their product line to cater to different life stages and needs. Their business began with personal connections and expanded through strategic product development and clear targeting of customer needs.

During the podcast, they delve into strategies for increasing the Average Order Value (AOV), an essential metric for scaling direct-to-consumer (D2C) brands. Sarah emphasizes her focus on not leaving money on the table by enhancing product offerings and strategically setting pricing and promotions to encourage customers to add more to their carts. They use customer journey analytics to tailor suggestions and upsells, increasing the value of each purchase. These tactics are underpinned by their deep understanding of their customer base, using detailed feedback to continuously refine their approach.

Garrett and Sarah also explore broader e-commerce strategies, including their use of various platforms like Amazon and Shopify, and the importance of adapting to customer preferences and market conditions. They stress the importance of aligning business strategies with brand identity and customer needs, rather than blindly following market trends. Their approach combines analytical rigor with a keen sense of market dynamics, aiming to build a resilient, customer-centric business. This holistic view allows them to innovate while staying true to their core values and brand proposition.

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