Average Transaction Value and Number of Transactions
Average Transaction value
3 Common Mistakes
- Not considering the costs involved in the transactions or process.
- Utilising a certain cut-off period (IE sales transactions may fall over into the following period and therefore certain costs may be missed).
- Upselling products or services to increase the average transaction value.
Average Number of Transactions
3 Common Mistakes
- Coupling transactions together as a single sale.
- Expanding a single transaction to multiple transactions.
- Using data from a specific time period, taking into account seasonal expectations if need be.
Episode 25
Do you want fries with that? Increasing your businesses 'Average Transaction Value' can dramatically improve your profit without the cost of attracting new customers.
Jodie Thompson from our Sunshine Coast office talks to host Gavin Nash about this very topic and gives some great examples and tips on how to do it.
Available on Apple Podcasts & Spotify or right here!