Average Order Value
The average amount of money a customer spends on each order. For example: If a customer has spent a total of $1000 in 4 orders, then the AOV of the customer is $250. Higher AOV means that you’re getting more out of a customer.
Similarly, in the context of products, AOV is the average amount of money that a product raises from its orders.
Use pre-built segments on purchase behavior such as Recent Low Spenders, Recent Whales to tailor advertising campaigns. Offer cross sell and up-sell products that improve their spend; hence, resulting in higher AOV.