How to Get Paid More from Affiliate Merchants on Shopify
Last modified: September 28, 2021
Affiliate marketing can be one of the best ways that you can earn money on Shopify. There are lots of affiliate marketing apps on the app store, including this one here. However, there are also opportunities to participate in self-hosted affiliate marketing schemes that are run by the company themselves. In these scenarios, you might be able to negotiate for a better rate from the merchants.
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What Difference can a Better Rate Make?
When it comes to affiliate marketing, a small change in your affiliate commission can make a significant difference in your revenues over the year. Say the average spend of a customer who is recruited by you for a merchant is $50 and you get 2% of the value, then you’re getting $1 for every sale. If you send over three converting customers to that client every day, then over the year you’re making about $1000 from that client.
Now if you can get that commission to be more like 3% then you’re making $1500 a year from that merchant, a 50% increase in your payouts from a small cut into the profits of the business. While you will need several merchants to help you make a full-time living, if you can get a few of them, you can make a big difference to your revenues.
How to Prove that you Deserve a Larger Rate from Affiliate Merchants
The first thing that you need to do is that you need to analyze your performance. You can perform an analysis of those who are being sent through and then determine how many are actually making a purchase. If you have a high conversion rate (like 5-6%) then you are probably performing one of the best.
In addition, if you’ve got a large audience through social media and email marketing, you can use this as a reason why you should get a larger rate. You want to be one of the top performers and some merchants will tell you where you are ranked in the overall performance of their affiliates.
You might also want to think about additional ways that you can convert audiences. You can start a Youtube or TikTok channel. This can help you build a better affiliate business as well as your Shopify site.
Show How Much your Merchants Could Lose
If you’re bringing in thousands of dollars of sales a month to a brand, they’re more likely to get an increase in your rate. You can tell the merchant that your value is very important to them and without your traffic, they’re going to lose a lot more money than giving you a small increase in your rate.
Of course, you’ve also got to be sure that you can’t lose a merchant. Some merchants will cut you off a program if you ask for a rate increase.
Final Word: How to Get Paid More from Affiliate Merchants on Shopify
If you’re into affiliate marketing, then you can earn more revenue by getting a small increase in your commission rate. Negotiating a better rate is about showcasing your value to the merchant. If you can prove you’re bringing in them lots of money, they’re more likely to give you a small increase to keep you and the revenue you generate for them.