Average Order Value
AOV gives you important insights into customer behavior that benefit merchandising, pricing, and marketing strategies. By mastering and increasing average order value, you can offset the costs of free shipping.
eBook
8 Ways to Offer Free Shipping without Busting Your Bottom Line
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Offering free shipping is a huge value proposition to customers that can boost your brand when applied strategically. The positives: providing free shipping can increase your conversion rate and differentiate you from competition. The negatives: implementing this shipping option is difficult to do without breaking the bank. Not to worry! ShipMonk is here to take the complexity out with our guide that details 8 easy ideas for incorporating free shipping into your business model while still being kind to your margins.
In This Ebook, We’ll:
Examine How Offering Free Shipping Can Help Your Business
Explore Budget-Friendly Models for Brands Looking into Expedited Shipping
Provide 8 Recommendations for Cost-Effectively Implementing Free Shipping
Preview of Content
Minimum Order Value
Huge brands can afford free shipping because they sell enough to offset shipping costs. Regardless of the size of your brand, you can achieve the same balance by selling more to your customers.
Membership Plans
To counterbalance free delivery costs, your brand can create its own membership model that rewards customers who sign up for accounts. Free shipping can be one of those benefits, among others.
FOMO
Fear of Missing Out can be leveraged by appealing to certain consumers’ need for instant gratification. In this case you can offer free shipping as a goodwill gesture, but push the idea of faster paid shipping as an alternative.
Zip Codes
Limiting your free shipping eligibility to zip codes within certain radiuses reduces the distance orders travel and thus lowers the cost of sending them.
Multiple Locations
If you’re going to offer free shipping in a cost-effective way, having multiple fulfillment centers for inventory brings your products closer to customers, helping you overcome obstacles that many brands face.
Ground Shipping
This method is traditionally the least expensive way to accomplish free shipping.
3PL Partnerships
Working with the right 3PL can make free shipping attainable, affordable, and easy for your brand to offer. A strong 3PL can provide you with location advantage, international opportunities, shipping leverage, and added technology.
