- Web Development
- 6 min
React.js is an extremely popular front-end technology for buidling different types of web solutions. If you wonder whether your business can benefit from it, read this post.
In this post, you will learn about the basics of Shopify affiliate marketing. That is, setting up an affiliate program for your online store. We have covered the most essential aspects every Shopify store owner should bear in mind: how to attract affiliate marketers, what apps you should use to maximize your affiliate marketing efforts, and other crucial details. Read on. It will be interesting, we promise.
As Henry Ford once famously said, “Stopping advertising to save money is like stopping your watch to save time.” Advertising is the driving force behind every business. Multinational corporations such as McDonalds or Apple spend heaps of money promoting their products and services via all possible channels. According to Statista, the advertising spending in North America, for example, amounted to 253.6 billion dollars in 2019 and is expected to reach almost 240 billion in 2020.
Just like brick-and-mortar businesses, e-commerce needs advertising, too, in order to attract customers and earn revenue. That said, while large online enterprises with multi-billion dollar turnovers like Amazon and eBay can easily afford to strew media with their ads all over the world, many smaller online stores can’t boast such generous advertising budgets. This forces them to search for alternative, less expensive ways to promote whatever products they sell.
One of the roads many SMBs take in this direction is affiliate marketing. To understand its essence, imagine the following scenario.
You’re a business coach. You have just created a new program for entrepreneurs who want to increase their sales. Naturally, you’d like as many people to sign up for your seminars as possible. However, your advertising budget is fairly limited. You don’t have enough money to place ads on television or the Internet.
While you’re restricted in your financial means, though, you have many friends and acquaintances among the business community. For example, a merchant that you know regularly plays golf with other entrepreneurs.
Why not contact him and ask him to mention your seminars to the golf club members? In return, you can promise to pay him a certain amount for every person who’ll enroll for your course on his recommendation. This is what affiliate marketing is in a nutshell.
There are a few differences between the business coaching example above and affiliate marketing on the Internet. The idea, though, is identical: find prominent Internet users to promote your brand among their audiences. This is how it goes:
Why is this marketing practice so beneficial for Internet store owners in general and Shopify store owners in particular? These are the most notable reasons:
If you’re a Shopify store owner, you’ve done the right thing by choosing this great e-commerce platform for your business. We have sung the praises of Shopify on numerous occasions. Read this post on our blog, for example.
Apart from many great benefits the system provides for online entrepreneurs, it makes affiliate marketing a simple undertaking. Just search for an appropriate app and install it on your Shopify site.
You can find a lot of excellent Shopify affiliate marketing apps. A short while ago, we did a review of these on our blog. One example is Referral Candy. This app is easy to install, provides multi-channel promotion tools, automatically distributes compensation to affiliate marketers, and has many other useful features.
If you’re struggling to find a suitable app for Shopify affiliate marketing among those the App Store offers, we’re here to help. The PSD2HTML Shopify development team has vast experience building online stores and tuning them up for specific business requirements. Ask us and we’ll recommend the best tool for your advertising campaign.
Installing a good app on your Shopify store solves many problems. However, there are other essential steps you need to take in order to see tangible results. Below are several important things to keep in mind if you decide to walk the affiliate marketing path.
While using Shopify for affiliate marketing is an exciting opportunity to earn revenue without having to throw money into ads, it’s not a good idea for some online stores. If the difference between your purchase and selling prices is minimal, you should probably leave affiliate marketing alone till times are better.
This is because you have to pay a commission to your affiliate marketers. If this amount is too small, your affiliate program will hardly be popular. On the other hand, if you are too generous with the people advertising your brand, making decent money will be virtually impossible. As such, we recommend that you do some serious calculations before you begin giving away the affiliate links left and right.
Although affiliate marketing is the “background” advertising method, as a Shopify store owner, you still have to do some heavy lifting before you actually start making money this way. Above all, you need to let as many people know about your campaign as you can.
These are the most common ways:
Of course, affiliate marketing is about selling more products or services by spending less on advertising. We’ve already discussed this. You pay a commission to affiliate marketers who have brought you customers.
However, there are other advantages. You can consider paying affiliate marketers for various activities that visitors to your store perform. For example, when someone subscribes to your newsletter or fills out a questionnaire, it means these people may eventually convert.
In addition, clicking affiliate links increases traffic to your Shopify store. More visitors to your site means more chances to have new customers. Therefore, why not pay an affiliate marketer a small amount every time someone lands on your store on their recommendation?
If you have any questions about affiliate marketing on Shopify or want to make your online store feature-rich and professional-looking, the PSD2HTML Shopify development team will be glad to help. With our unrivaled expertise in e-commerce and thousands of happy clients, we are true web development experts. Let’s talk about your project today!