The right way to grow to be a Shopify accomplice
As one of the largest e-commerce platforms on the internet, Shopify offers budding (and established) entrepreneurs a platform to sell their goods and expand their reach.
In fact, Shopify dominates nearly 20 percent of the ecommerce market share.
That's not all. With millions of active buyers on the platform, brands have many opportunities to grow their sales.
In addition to a large audience, Shopify gives users a simple, streamlined experience that can get the store up and running in record time.
When you join the Shopify platform, you have instant access to features that allow you to:
- create a website
- Create a domain
- multiple payment options
- Incoming orders and processing
In short, Shopify equips sellers with the tools they need to get their store up and running.
The benefits of Shopify don't just apply to online sellers. Through their unique partnership program, individuals can coordinate with Shopify to grow their business and increase sales through a variety of features.
Is the Shopify Affiliate Program Right for You? Here's what you need to know:
What is the Shopify Affiliate Program?
The Shopify Affiliate Program is a set of tools and resources that Shopify users can leverage to grow their business. This is done through four main categories:
- Marketing: For Shopify users who need a more specific audience, optimized campaigns, or optimized content, Shopify marketers can offer their services to help Shopify users increase their reach and apply better marketing strategies.
- Shopify Developer: Shopify store development experts can create apps to help Shopify merchants in a variety of ways, including increasing engagement and sales.
- Shopify Designer: From graphics to branding, these design experts assist businesses with design needs and often work with developers.
- Affiliate Marketing at Shopify: Affiliate marketers can offer almost any service on the platform, from influencer marketing to content creation.
Shopify partners can also create and sell Shopify apps and themes for revenue.
In addition to the different types of partners mentioned above, there are also different levels of partnership including:
- Shopify partner: Think of this as an entry-level role for Shopify partners. At this level, you get access to unlimited trial stores that you can use to customize, learn, and improve your craft. For every action (customer recommendation, app design or graphic completed) you will receive a monthly commission.
- Shopify Plus partner: This level is only for Shopify partners who do a great job. This level often includes agencies, business consultants and systems integrators, as well as individuals.
- Shopify fulfillment partners: Fulfillment Partners make up the Shopify Fulfillment Network and can operate inside or outside the boundaries of the Shopify Affiliate Program.
What are the benefits of becoming a Shopify Affiliate?
Given that every third Shopify seller uses Shopify partner services, there is a real opportunity for you to increase your income by joining the program. In addition to adding extra padding to your bank account, partners can access free training resources and perks, including:
- Instructions articles
- Live chat
- the Shopify Academy
The partnership also provides access to an unlimited number of stores so you can experiment to your heart's content.
As a Shopify Partner, you get exclusive access to offers on tools to run and grow your business. When you've set up your dashboard (more on that later), select the “Affiliate Benefits” section, then select the “Eligibility Benefits” button.
Even better, when you sign up as a Shopify partner, you create opportunities to scale your business. Whether you are an established agency or an individual looking to expand your skills and customer base, signing up for the Shopify Affiliate Program is a great growth opportunity.
Let's sum up how you actually become a Shopify partner.
5 steps to becoming a Shopify partner
There are many benefits to the Shopify partnership that we've already covered, but there is one overarching benefit that we haven't covered: It's free to become a Shopify partner.
After you better understand the value of a Shopify partnership, follow these five steps to growing your business today.
1. Learn more about Shopify partners
This blog explores the interface of a Shopify partnership. However, you want to spend more time on the Shopify partner site reading the blog and learning more about partner benefits and features.
2. Participate in the Shopify Affiliate Program
This is the easiest step so far! Just go to the login page, enter your name and email address and wait for your confirmation.
3. Check your email address
After creating an account, you will receive an email asking you to follow a link to verify your email address. Make sure you do this within 24 hours as the response window will close after this period.
After selecting the blue button to confirm your account, you will be taken to the Shopify Accounts page. Select "Shopify Partner" and then "Create New Partner Account".
4. Enter your details
After you've successfully set up an account, you'll need to fill out a form asking for your company's details. Fill in all required fields.
After doing this, scroll down to the Business Objectives section and select the feature that best fits your offering. Here you can choose:
- Build apps
- Building new Shopify stores for customers
- Providing services to existing Shopify merchants
- Recommend dealers as partners
- Selling products as a Shopify retailer
After selecting the correct category, scroll down the page until you reach the platform usage section. Here's a look at what platforms you're currently using so Shopify can equip you with custom tools.
- Speed of Light
After selecting the appropriate category, read the Affiliate Program Agreement at the bottom of the page and select the appropriate check box.
5. Meet your Shopify dashboard
Your dashboard is the hub of your Shopify store. First, in the Getting Started section, select the Shopify Affiliate Programs that you want to apply for.
A short form will ask you to explain your interest in each program.
Even if you don't get accepted into a program right away, you can still use your dashboard to grow and improve your skills. With endless courses offered by the Shopify Partner Academy, you can earn certifications in Business Fundamentals, Theme Development, App Development, and Product Fundamentals.
You can take the accompanying test as often as you like and use the resources provided by the Shopify Partner Academy to expand your knowledge base.
After you have your approval for any of the Shopify programs, you can start making money. Payments are made every two months via PayPal.
The partner dashboard is also your source for all questions. Through the portal, you can contact Shopify support anytime, anywhere to answer your questions.
Measure the success of your Shopify partnership
You have set up your dashboard, been included in a few programs, have been working for a few months, and now you want to know how successful your Shopify partnership really is.
While there are tons of metrics you can use to track the success of your endeavors, here are six metrics you can use to gauge the strength and success of your partnership.
Lead conversion rate
This metric is exactly what it sounds like: a measure of how many leads have been converted into customers in a given period of time, usually in 30-day increments.
Because of the ability to highlight how successful your campaigns are in converting attraction into actual leads, your lead conversion rate is a must.
How do you calculate the lead conversion rate? The formula is pretty simple as long as you have the numbers.
Lead conversion rate = (number of new customers in the last x days ÷ number of leads in the last x days) x 100
Master Velocity Rate (LVR)
This number is representative of real-time sales performance. Because of its predictive nature, the metric is perfect for forecasting sales growth.
How do you calculate the master speed?
Lead Velocity Rate = (number of qualified leads this month – number of qualified leads in the last month) ÷ number of qualified leads in the last month x 100
Monthly Recurring Income (MRR)
This metric represents sales rather than what is actually actively being collected. MRR is a good indicator of success and shows you whether your leads are converting to actual customers in a limited amount of time.
How do you calculate the MRR?
MRR = number of customers x average invoice amount
This metric refers to the number of customers who stopped using your service within a certain period of time. Churn rate is a valuable metric to help determine if your marketing strategies and onboarding process are effective.
How do you calculate the churn rate? There are two types of churn rates:
User Churn = (Abandoned users last 30 days ÷ active users 30 days ago) x 100
Revenue Churn = (MRR lost to downgrades and cancellations in the last 30 days ÷ MRR 30 days ago) x 100
Average Revenue Per User (ARPU)
Use this metric to understand how much revenue you are getting from each individual user. These statistics are useful for assessing marketing successes and errors and forecasting sales targets.
How do you calculate the ARPU?
ARPU = MRR ÷ active users
Lifetime Value (LTV)
This metric represents the amount a user spends on your service over the course of your relationship. This number can be used to gauge whether it is more valuable to nurture existing customers or pursue new ones.
How do you calculate the LTV?
LTV = Average Monthly Recurring Earnings Per Customer ÷ User Churn Rate
I recommend monitoring these numbers daily, weekly, and monthly for a complete picture of your success. You can use these metrics to identify patterns and determine if improvements are successful so you can adjust your approach as needed.
Shopify's continued growth is showing no sign of stopping.
For any digital marketer, developer, or graphic designer, becoming a Shopify Affiliate is an opportunity to expand your portfolio, improve your skills, and make extra money.
If you want to grow your customer base and sales, Shopify might be the place for you.
If you are considering jumping into the world of the Shopify partnership, you should actively monitor the right metrics and ignore vanity metrics that have little impact on overall success.
Which Part of the Shopify Affiliate Program Will You Find Most Useful?
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