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Shopify Earnings: How to Earn Money from Shopify
Last modified: February 1, 2024
If you have decided to start an e-commerce store and would like to set up a Shopify store, you might be wondering how to earn money from Shopify. There are lots of ways to make money from Shopify. These include selling products in your store, selling products with affiliate marketing, selling services (like marketing), and third-party sales (apps) and you can also sell tutorials.
To be successful, you are going to need to create a great brand to attract customers and keep them coming back to your store. You’ll want to have an original and memorable name that people can share as word-of-mouth marketing. You’ll also need a good logo and a strong USP (unique selling point). Being able to market your website is essential to making sales, this includes apps to encourage sales like bulk purchases and upsells for example. A blog using keywords for search engine optimization can help draw customers to your brand.
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Sell Products with a Shopify Website
Shopify is a website builder, hosting platform, and content management store and the basic plan upward will enable you to build a shop store and take payments for products. You’ll be able to place up to 1000 products in your store. For very large stores, you can contact Shopify for Shopify Plus. Shopify stores have a POS (point of sale) system for taking payments both in person and online.
You can use lots of techniques to try and increase product sales on your Shopify website. Techniques such as offering additional products on product pages and at the cart to increase upsells and cross-sells. Another option is to offer bundles of products to try and increase order value. Shipping bars can also increase revenue, you offer free shipping when the customer’s basket reaches a certain value. You’ll need to make sure you keep in touch with customers via email and offer social proof on social media, for example.
Sell Shopify Products with Affiliate Marketing
Affiliate marketing is a great way to sell products on Shopify. Affiliate marketing involves the promotion of products in exchange for a commission. These might be digital products or physical products. There are apps you can install specifically to support affiliate marketing.
So how does this work? You can advertise a product, perhaps on your lifestyle blog or an advice blog. You will need to declare that your marketing includes affiliate links. Then, when the customer clicks on the link and purchases that item, your commission will then get recorded. Some affiliate programs require you to earn so much in commission before it is released, so you will need to read the terms and conditions.
Sell Services (Website Development, Marketing, etc.) through Shopify
If you have a particular skill such as financial training or marketing expertise, you might wish to sell services through your Shopify store. You will need to work out how you can offer your services, and be able to put your services into packages, so customers know what to expect. You might alternatively wish to offer services by the hour.
If you are offering services, it is a good idea to set clear expectations before customers book services, and you might wish to have a contract as well, especially if the service you offer is regular like financial services. So you might offer a 3-hour virtual training session as a business consultant. This could be set out as one hour to go through their business, a one-hour discussion and advice session and then the last you go away and write a report.
Be a Third-Party Seller of Shopify Themes and Apps
If you have particular skills in developing, you could apply to become a Shopify partner and be a third-party seller of apps or themes. There are lots of great apps available for sale on the Shopify store that are created by third-party developers.
Themes can earn a one-off fee. And this can be a good option for many. However, that means you must sell lots every month to make a living. So you would have to develop lots of themes and then sell them.
With apps, people tend to have recurring payments on them. Therefore, you can keep revenues coming in based on the number of users you have. You tend to have a lower income per customer, but then you can benefit from a recurring income that is easier to maintain.
Another option is that you can have a free app, but charge for usage of the app. For instance, if you have an app that can optimize a certain process, you can charge per optimization process that is completed. To help promote your app or theme, you will have to market the software. You can do this on your own and reach out to blogs that promote apps/themes.
Sell Shopify Tutorials on Third-Party Websites (Udemy, SkillShare)
If you have a particular skill you would like to teach others, then you could set up Shopify tutorials on third-party websites. You might wish to offer tutorials on how to choose or use apps for specific processes. This can be a great way to earn money as you create the courses, upload them, and then people can pay to do your course.
You can find adult teaching courses for adult lifelong learning, and this can be useful to help you transfer your skills and knowledge about Shopify into lessons that are inspiring and clear for the students doing your course to be able to understand what you’re teaching and then implement it. If you can create inspiring tutorials, then your customers are likely to sign up for more of your courses.
Maximizing Shopify Earnings: Advanced Strategies
Optimize for Mobile
To maximize your e-commerce potential, ensure that your Shopify store is thoughtfully optimized for mobile users. A seamless and user-friendly mobile experience is key for a significant majority of online shoppers.
Leverage Social Media
For a well-rounded e-commerce strategy, consider integrating your Shopify store with various social media platforms. Leverage the ‘Shop Now’ features available on popular platforms like Instagram and Facebook.
Explore Subscription Models
In your quest for sustainable growth, exploring the possibility of offering products on a subscription basis is a prudent move. Such an approach to ensure a steady income stream and enhance your customer lifetime value.
Enhancing Store Performance
Utilize SEO Best Practices
In order to enhance your online store’s visibility and accessibility to potential customers, implement effective SEO strategies. This involves meticulous keyword research to identify and incorporate relevant keywords.
Offer Exceptional Customer Service
To foster loyalty and encourage repeat business, prioritize delivering exceptional customer service. Consider integrating live chat support to provide real-time assistance and address customer inquiries promptly.
Implement Upselling and Cross-Selling Techniques
Implementing upselling and cross-selling techniques to boost your e-commerce revenue. By recommending related products or higher-end alternatives to your customers, you can encourage them to increase their order value.
Conclusion: Shopify Earnings: How to Earn Money from Shopify
There are lots of great ways to earn money from Shopify. If you have a particular skill, you might want to set up a Shopify website and sell your services, or you could teach people about your skills through tutorials on third-party websites. You could use Shopify to sell products on your website, or you might wish to sell an app or theme on the Shopify store as a third party. Finally, you might want to consider affiliate marketing. Which method will you use for earning money from Shopify?
Do I need to invest a significant amount of money to start a Shopify store?
The initial investment for a Shopify store can vary, but you can start with a relatively low budget. Costs may include domain registration, theme purchase, and advertising expenses.
Is it possible to earn a full-time income from a Shopify store?
Yes, many entrepreneurs have built successful full-time businesses using Shopify. However, success often requires dedication, continuous learning, and effective marketing strategies.
Can I sell on multiple platforms in addition to my Shopify store?
Yes, you can expand your reach by selling on multiple platforms alongside your Shopify store. Some popular options include Amazon, eBay, and social media marketplaces.