Ever wonder what’s the average order value of your eCommerce store? If you know the average amount people spend on your store, you can easily find more ways to increase your revenue.
And the simplest way of finding your average order value is by using Google Analytics. But if you’re a beginner and have never used Analytics before, then it can be overwhelming.
So, in this article, we’ll show you how to find average order value using Google Analytics. Let’s begin…
What is Average Order Value?
Average order value or AOV is the average amount spent by customers on your online store. It’s an important metric that you should track along with other key performance indicators (KPI) like conversion rate and bounce rate.
With AOV, you get a clear picture of how much people are willing to spend on your website. You can then find new ways to make more money.
And to make the most of this metric, you can measure it every month. This will help you keep track of the changes you made and whether they improved the average order value or not.
But, how is the average order value calculated? Let’s find out…
How Does Google Analytics Calculate Average Order Value?
Google Analytics measures the average order value by dividing the total dollar value of sales by the total number of orders for a given time period.
For instance, let’s say your sales for last month were $1000 and you sold a total of 25 products that month. So, the average order value will be $40.
With that, are you ready to find AOV for your eCommerce store?
How to Find Average Order Value?
When it comes to finding the average order value of your online store, the simplest way is through ExactMetrics. You can view your site’s AOV insides your WordPress dashboard. No need to get involved in the tedious process of going through Analytics reports.
ExactMetrics is the best premium WordPress Analytics plugin. It allows you to track your online store’s performance with a click of a button. And it makes using Google Analytics simple by setting up advanced tracking.
To start, just follow these steps…
Step 1: Install ExactMetrics WordPress Plugin
The first step is to signup for an ExactMetrics account and install the WordPress plugin on your website. But ensure that you subscribe to a Pro plan to use its eCommerce addon.
After you’ve signed up, download and install ExactMetrics on your online store.
Then connect Google Analytics with your WordPress website by following the setup wizard. For more detail, check out our guide on how to properly add Google Analytics to WordPress.
Step 2: Install and Activate eCommerce Addon
Next, you’ll have to install ExactMetrics eCommerce addon.
To do that, simply go to your WordPress dashboard and then navigate to ExactMetrics » Addons. Now go to eCommerce and click Install.
Wait for a few seconds and the addon will automatically install and activate on your website. You can check the status to see if it’s active.
Step 3: Enable Enhanced eCommerce in Google Analytics
Once you’ve set up eCommerce addon in ExactMetrics, the next step is to head over to your Google Analytics account and enable enhanced eCommerce. It’s how Analytics will start to track your store’s performance and average order value.
You can start by logging into your account then go to Admin.
Now click on Ecommerce Settings located under the View column (on your far right).
Next, click on the switch to Enable Ecommerce and Enable Enhanced Ecommerce Reporting. You should see that both are toggled to ON. Then click Save.
Step 4: Enable Enhanced eCommerce in ExactMetrics
Next, go back to your WordPress dashboard and then go to ExactMetrics » Settings » eCommerce.
Under eCommerce Tracking, click on the switch for Use Enhanced eCommerce and ExactMetrics will start to track the average order value of your store. It will automatically detect your online store on WordPress, such as a WooCommerce store or a membership website.
Step 5: View Average Order Value in WordPress Dashboard
Now that you’ve successfully setup enhanced eCommerce, you can view your store’s average order value in your WordPress dashboard.
Just go to ExactMetrics » Reports and click on eCommerce. Right on the top, you can see the average order value of your eCommerce store.
Congratulations! You can now easily find out the average amount people are spending on your site.
But what if you want to see the AOV metrics in Google Analytics?
How to View Average Order Value in Google Analytics
To see the average order value of your website in Analytics, go to Conversions (located on the left panel settings). Then navigate to E-commerce » Overview. Here you can see the Avg. Order Value metrics for your online store.
You can get more insights by going to Acquisition and see which sources generated the highest average order value. Simply navigate to All Traffic » Source/Medium and click Ecommerce under the Explorer tab on the top.
How to Improve Average Order Value?
After you’ve found the average order value of your website, here are a few tips on how you can boost it so people spend more money:
- Provide Product Recommendations – You can display product recommendations across your site to help customers make decisions and increase your average order value
- Cross-Sell Products – When people visit a product page, you can cross-sell by offering similar products and perhaps bundling them together
- Upsell at Checkout – Upsell allows you to boost your AOV by offering products that customers might also want to buy, and you can push these items on your checkout page
- Offer Free Shipping – You can get visitors to buy more products by offering free shipping if they spend a certain amount on your eCommerce store
We hope you liked our article on how to find average order value using Google Analytics. You can also check out our post on how to track keywords in Google Analytics (step by step).