There are numerous metrics that can be used to measure the performance of an enterprise. They are nothing more than general statistics that measure the health of the business, through the periodic collection and analysis of sales data. There are several ways to increase the average ticket of your business, depending on your goals. Here are some strategies you can apply to your business plan to get people to buy more of your product. Keep reading! Classic ice cream flavors are still the most guaranteed options for most ice cream shops. Try adding more variety to these flavors , such as more options for sauces, toppings, and side dishes.
In this article, we are going to talk about one of the most used metrics by entrepreneurs, which is the average ticket. In addition to explaining what it is, we will teach you how to calculate it in a very easy way and also give some tips on what to do in your ice cream shop to keep this number very high. Keep reading to check it out!
What is average ticket?
The average ticket is a metric that indicates the average consumption of each customer at your establishment. It is used by companies from various segments to evaluate sales performance in general.
To calculate the average ticket, one must consider the sales volume and the number of customers in a certain period of time, which must be established according to the needs of each business. You can also add other variables to this metric.
For example, if your sales vary a lot throughout the week and you want to concentrate your marketing efforts on the days with less traffic, then it is ideal is to calculate an average ticket for each day of the week. Likewise, it may also be a good idea to make a separate calculation for each salesperson.
How is average ticket calculated?
This metric is one of the simplest to calculate, just adding the total number of sales made in a given period and dividing by the number of customers in that same period. See the following formula to better understand this calculation:
Average ticket = total revenue / number of customers
Let's take as an example a store that receives 400 customers per month, who spend a total of $8,300. In this case, the average ticket would be $20.75, since:
$8,300 / 400 = $20.75
Why calculate the average ticket?
The reason this metric is so important is because it helps you identify the products or services that are generating the most profit, making it possible to relate them to different customer profiles. This is especially useful for segmenting sales according to target audiences, creating specific offers for each of them. The average ticket can also reveal issues that are hampering sales, so action can be taken to correct them.
In summary, the average ticket is essential for businesses to define the best strategies to grow their sales.
How is the average ticket of an ice cream shop increased?
Offer a variety of flavors
Innovative recipes, the kind you cannot find anywhere else, have proven to be effective in increasing repeat business. A good example of this are those ice cream shops that invest in fruit flavors typical of the region, as well as products that cater to a variety of audiences, such as non-dairy, vegans, children, etc.
Distribute to other establishments
Food establishments such as restaurants, supermarkets and kiosks often look for local dessert options to resell to their customers. In addition to increasing your average ticket with direct sales, creating links with other merchants also helps to consolidate your brand in local commerce.
Invest in loyalty programs
Loyalty programs are a very advantageous strategy, both for the customer and for the ice cream shop. While the customer feels that he is being rewarded for his loyalty to the establishment, the ice cream shop gains consumers who buy more products and more often.
Thus, you can create a system that distributes points according to the amount of products consumed. As the customer accumulates points, he can exchange them for something, such as a gift or a discount.
Create promotions
Customers love to feel that they are getting a good deal. One way to achieve this is by creating discount coupons that motivate people to buy more of your products in the future. For example, you can offer an X discount for the next purchase over a certain amount, or even a coupon that entitles your customers to a free cone after a certain number of visits to your ice cream shop.
Just make sure your audience knows about your promotions by handing out flyers, posting on social media , putting up posters at the ice cream shop, etc.
Introduce referral incentives
Mobilizing your customer base to bring new customers to your ice cream shop is a very efficient strategy. Word of mouth marketing is still one of the main incentives for people to visit a new establishment. In the end, people tend to trust products that have already been tested and approved by their family, friends, or co-workers.
So do some research to find out what rewards might be of interest to your customers and offer them to anyone who introduces your ice cream shop to a certain number of people.
Assemble product kits
Another very efficient strategy is to assemble product kits that are complementary to each other and offer them at special prices. For example, a three-scoop ice cream, accompanied by a chocolate frosting with sprinkles, or a set of five cones with the flavors that the customer prefers are all great options.
With this article, you have learned what the average ticket is and why it matters to business owners, as well as some ways to grow that number. However, it is also important to be aware of common mistakes that can make your average ticket value decrease, such as selling your product at very low prices, not planning the right strategies for your business, or imitating your competitors' marketing tactics.
Now that you know how to increase your average ticket, learn more about your business with this article on how to organize an ice cream shop opening!
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