It's only natural for Shopify business owners to want to diversify and grow their revenue streams. This is where affiliate marketing with Shopify comes in.
In this article, let's take a look at Shopify affiliate and learn how to set up your own Shopify affiliate marketing program and attract affiliates. Alternatively, selling affiliate items will help you diversify your online store.
An affiliate program is a marketing strategy that a company will pay third-party publishers to create traffic and leads for services and products. Affiliates are third-party publications that are paid a commission to create new methods to promote the company.
The Shopify Affiliate Program includes influencers, content creators, entrepreneurs, and educators that use Shopify to educate and introduce to their audiences the business. You can freely join the programs. It will allow you to both monetize your audience and earn commissions on new Shopify merchant referrals.
Affiliates advertise your items and direct potential consumers to your Shopify store using a rewards-based online sales approach. This is a win-win situation! You gain more exposure to your Shopify store for absolutely no money upfront, and affiliates get paid for every consumer who buys something through their referral link.
Affiliate marketing is advantageous to Shopify Store owners because it is low-risk; you only pay your affiliates if they convert sales. While the fact that you don't need to spend a lot of money to get started with your Shopify affiliate program is a huge plus, how else may an affiliate program benefit your Shopify store?
Increases Sales Effectiveness
Affiliate marketing is advantageous since it is low-risk while simultaneously providing a high payout. Low risk + big payoff = a double win!
Before making a purchase choice, nearly all customers will browse up to three non-retail websites. Before they are convinced to finalize a purchase, buyers want to hear from others, especially those they trust. Thus, it can be said that affiliates will boost your sales effectiveness.
Increases Brand Credibility
Your affiliate partners will almost certainly already have a relationship with their target audience. Affiliates' audiences are far more inclined to trust your brand when they promote your items to their audiences. They have faith in the affiliate not to lead them astray and to guide them to a great buy.
One of the most common reasons people decide not to make a purchase is the fear of regret. Nobody likes to throw away their hard-earned cash or feel bad about a purchase they made. Affiliate marketing helps you convert more purchases by reducing buying anxiety and increasing brand awareness.
Extends Your Reach
An army of affiliate partners will promote your Shopify business all over the internet if your Shopify affiliate program is effective.
Instead of spending a lot of time and money to establish a few hundred people's awareness of your brand online, affiliate marketing allows you to reach the complete audience of each affiliate you work with. Thousands of consumers are suddenly exposed to your Shopify store, which your brand would have never been able to reach otherwise.
Your affiliates put in the time and effort to grow their audience, and you get to benefit from their efforts.
Shopify store owners prefer this Shopify affiliate marketing strategy the most. It aids in attracting more customers to the store and increasing sales of existing merchandise.
Step 1 - Choose Your Prefered Products to Promote
The first step is to figure out which of your products will be included in your affiliate marketing campaign. You might wish to add all of them, depending on how large your store's product range is. Place the greatest focus, however, on goods with a high average order value.
It may be viewed from two perspectives:
- Affiliates want their efforts to be noticed. If you provide a 5% commission on every sale, they'll be more interested in pushing $100 items than $10 ones.
- If you want to use a pay-per-sale model, it will be unprofitable for you to use it on low-value products.
Step 2 - Make a Good Strategy for Your Affiliate Business
You need to know what you want to achieve with your Shopify affiliate business before you start planning specifications for your affiliate program and recruiting Shopify affiliate partners. In this phase, you'll need to figure out items like:
- Target Audience: What is your ideal consumer that will visit your store as a result of this affiliate marketing program?
- Affiliate Partner: What type of affiliate partner would you choose to help you locate your ideal customers?
- Affiliate Model: Would pay-per-sale or revenue-share affiliates be interested in your affiliate marketing model? Why?
- Expectations: Do you expect this affiliate marketing scheme to expand your reach and bring in new customers?
- Expected Revenue: How much revenue do you need to make the affiliate marketing program profitable?
- Objectives (short/long term): What do you need to do today to properly launch an affiliate program for your Shopify business, both short and long term? What measures will you need to take to manage it along the way properly?
- Marketing Channels: How to use marketing channels?
Step 3 - Decide Your Affiliate Pricing & Commissions
Choosing your fees will determine whether or not your Shopify affiliate program succeeds. Everyone wants to profit from this arrangement, after all. It's also crucial to choose whether flat rate commissions or percentages. To do so, take the things you want to market and figure out profit margins using various affiliate commission schemes.
Remember that a hybrid commissions model is also a good option. It's important to analyze whether the pricing range for the items available is large since this might make the affiliate program appealing to a wider range of partners.
Step 4 - Choose a Shopify Affiliate App
Installing Shopify affiliate marketing softwares like UpPromote and GoAffpr0 might save you time and effort as a Shopify business owner. These tools are designed to help you plan, establish, and manage an affiliate marketing program for your Shopify business. However, you must measure their advantages and disadvantages against your store's requirements.
Step 5 - Recruit Affiliates
Consider including testimonials regarding your affiliate program on your landing page and emails as you begin to expand your Shopify affiliate partners list. Seeing the success of other marketers will almost certainly assist in generating even more interest.
Use these channels to take off quickly and successfully:
- Social Media: Run targeted adverts or just alert your social network about the start of your affiliate program.
- Your Store: Create a conversion-optimized landing page for your affiliate program to convert visitors with their own websites or social media accounts into affiliate partners.
- Affiliate Networks: Take the initiative and look for new affiliate partners on affiliate community platforms, which post partnership ideas.
- Email Marketing: Send tailored Shopify affiliate marketing partnership invites to those who are already interested in your business using your email list.
Also, don't overlook training! Both you and your companions want to put on a nice show, so assist them.
Step 6 - Monitor the Performance of Your Affiliates
Even though the aim is noble, many affiliates that join up for your scheme will not be very effective. You'll notice that many of them forget to include your Shopify affiliate connections. As a result, you should never consider your affiliate arrangement successful just because you signed a new partner. Make sure you're always aware of the money streams generated by each affiliate. Check-in if the statistics are alarmingly low and figure out why.
In the overall Shopify affiliate marketing programs, you should pay attention to:
- Affiliates' number (total/new)
- Affiliate commissions (total/per affiliate)
- Payouts (total/per affiliate)
- Profit margins and payout-to-sale ratios
For those contemplating affiliate marketing, there is another alternative. Instead of marketing your own store, you may earn money by selling affiliate items on your Shopify business.
Step 1 - Sign up for an Affiliate Program
You presumably already have an established client base and a certain product selection as a Shopify business owner. Make sure the product selection compliments your Shopify store's current idea when setting up your Shopify affiliate business. Otherwise, affiliate products will go overlooked since they would not find their buyers.
Step 2 - Insert Product Affiliate Links
It's time to move those customers on to any other affiliate network you want once you've been accepted. Placing affiliate products on your store is almost identical to displaying your own. All you have to do now is manage the affiliate links. You'll get personalized connections to track sales that come in through your website. Put those affiliate links on products that are related.
Step 3: Organize Store Optimization and Promotions
Optimize your store for quick loading, high conversions, and a large audience reach.
- Create Excellent Product Descriptions: Customers need to realize that you're not just looking for a quick buck but that you truly believe in the value of the affiliate items you're selling.
- Improve Online Store Loading Times: A large number of products means a large number of photos. Optimize your store's photos to eliminate dead weight and increase speed. It will also help you rank higher in search engines.
- Pay Attention to SEO: You want search engines to find your shop. To get there, you'll need to make sure your pages load quickly, use meta tags, correct broken links, and more.
You've studied everything there is to know about Shopify affiliate, including how it can increase your Shopify sales and traffic and how to get started with setting up an affiliate network on your Shopify store.
Now is the time to put what you've learned to good use and get started! Read more about how to grow your online business on DSers Blog.