Affiliate marketing is on the rise. Today, brands are recognizing the power of affiliate marketing in driving more sales to their businesses and increasing awareness. Did you know the global affiliate marketing industry is projected to grow to a market size of $27.78 billion at a CAGR of 9.89% by 2027?
Affiliate marketing offers a low-risk avenue to grow your Shopify business. In this post, we will share a list of tools to help you choose the right Shopify affiliate software for your business and streamline your affiliate marketing efforts.
What Is Shopify Affiliate Software?
Shopify affiliate software (also known as affiliate marketing software or affiliate management software) is a marketing tool that allows Shopify businesses to manage, track, and grow their affiliate marketing campaigns without any hassles. This performance-based marketing tool helps you connect with your advertisers and build lasting relationships with them while handling the payouts for their efforts.
Besides, it tracks the performance of your affiliate marketing campaign by giving you intelligent insights into the different referral sales methods, commission rates for various products, earnings of each affiliate marketer, affiliate payments, and more.
Why Is Affiliate Marketing Important for Shopify Stores?
Affiliate marketing boosts your Shopify sales as customers are more likely to buy from brands that are recommended to them by their favorite influencers or bloggers, family, and friends. It helps you tap into their audience across various websites, social media platforms, community forums, and more while increasing your Shopify store reach and traffic. It helps you establish brand credibility and builds a sense of trust among your customers.
Affiliate marketing is a cost-effective way of marketing as it does not require you to invest in any upfront costs and pay a small commission to the advertisers once an actual sale is made.
How Does Shopify Affiliate Software Work?
Shopify affiliate software helps businesses establish and implement excellent affiliate marketing programs for product promotions. Some of the key features this tool offers include-
- Affiliate management and tracking to monitor referrals and sales.
- Customizable commission structures to reward affiliates for their efforts.
- Resource management and distribution to share marketing materials that can be leveraged for promotions.
- Reporting and analytics to offer insights into affiliate marketing performance.
Once you start your affiliate program by choosing the desired software, you can invite your customers, bloggers, influencers, and so on to register for the same. Upon registration, each affiliate is provided with unique tracking links generated by the software. These links serve as the digital fingerprints that affiliates use in their promotions.
The affiliate software diligently tracks and attributes its actions to the corresponding affiliate for determining commissions or rewards you owe to affiliates. It also tracks the affiliate performance and offers insights into traffic, conversions, and affiliate contributions.
Which Are the Best Shopify Affiliate Software Solutions in the Market?
Here are some of the best Shopify Affiliate Software you can consider for implementing your affiliate marketing program.
1. Referral Candy
Referral Candy is one of the most popular referral marketing platforms that is used by major Shopify businesses for managing their customer referral programs.
Features -
- Customer referral tracking
- Automated campaign management
- Branded referral experience
- Customizable incentives and rewards
- Integration with marketing apps, such as email marketing, website analytics, and more
- Reporting and analytics
Pricing - Starts at $59 per month (Free 14 days trial available)
2. Post Affiliate Pro
Post Affiliate Pro is another affiliate marketing software platform that provides businesses with a suite of tools offering amazing features to create and manage their own affiliate marketing programs.
Features -
- Accurate affiliate tracking
- Various commission structures
- Improved affiliate management
- Promotional materials
- Reporting and analytics
Pricing - Starts from $139 per month (Free 30 days trial available)
3. LeadDyno
LeadDyno is another affiliate program management tool that offers Shopify store owners a user-friendly affiliate marketing platform.
Features -
- Affiliate recruitment and management
- Extensive commission customization
- Seamless affiliate payments
- Lead conversion tools
- Reporting and analytics
Pricing - Starts from $49 per month (Free 30 days trial available)
4. LoyaltyLion
LoyaltyLion is a popular choice for businesses looking to start and manage their own affiliate marketing programs that offer a comprehensive set of tools for tracking, managing, and optimizing affiliate initiatives.
Features -
- Tiered referral programs
- Personalization
- Points and rewards system
- Enhanced customer engagement
- Data and analytics
Pricing - Connect with the LoyaltyLion team for pricing
5. Affiliatly
Affiliatly is another versatile affiliate tracking software that can be used with Shopify which is well-known for its simplicity and ease of use.
Features -
- Affiliate management
- Advanced affiliate tracking
- Marketing assets bank
- In-depth analytics and reporting
Pricing - Starts from $16 per month (Free 90 days trial available)
How to Choose the Right Affiliate Software for Your Shopify Store?
Choosing the right Shopify affiliate software extensively depends on your unique business requirements and budget.
Here is a list of features/factors you must consider before investing in one for your Shopify business.
- Ease of Use - The software must have a user-friendly interface and provide all information in an intuitive dashboard. It must integrate with your Shopify store seamlessly.
- Scalability - The software you choose must be able to handle an increasing number of affiliates, traffic, and transactions. It should accommodate your growing business without any interruptions.
- Accurate Insights - The software must accurately track the traffic, sales, and other performance metrics to generate precise results.
- Payment Options - The software must support different payment options while allowing you to set desired commission rates and payment schedules.
- Cost - The software must fit in your budget. You can opt for monthly subscriptions or one-time payments at your convenience.
- Support - The software must offer you reliable support - email, chat, or phone. Having a well-documented knowledge base would be an added advantage.
How to Integrate Affiliate Software into a Shopify Store?
To integrate affiliate software into a Shopify store, first, select a compatible affiliate app from the Shopify App Store. You can choose one from the ones we mentioned in the previous section.
Next, install the chosen app and configure the same. Customize commission structures and tracking parameters, upload marketing materials, and build a landing page containing the important details of the program. Finally, launch your affiliate program, providing affiliates with unique tracking links for referrals.
How Does Commission Structure Work with Shopify Affiliate Software?
Having well-defined commission structures is crucial for determining how much money your affiliates would earn for promoting your products.
There are various commission models you can choose to pay your affiliates.
- Flat Rate Commission - Pay a fixed amount for each referred sale.
- Percentage-based Commission - Pay a certain percentage of the total sale amount.
- Lifetime Commissions - Pay a commission on all future purchases made by the referred customers.
- Tiered Commissions - Pay affiliates based on the sales volume.
Once you have decided on the commission model, you ought to set commission rates for specific products. For example, you may set a higher commission on monthly subscription boxes while lower on one-time purchases.
Be transparent about how much your affiliates can earn, when they will be paid, how they will be paid, and other terms of the program. Remember a well-structured commission model can motivate affiliates to promote your products and drive sales effectively.
Are There Any Limitations or Challenges with Using Affiliate Software on Shopify?
Yes, leveraging affiliate software on Shopify for affiliate marketing can have some limitations. This includes increased costs for Shopify affiliate marketing software subscriptions, affiliate commissions, costs for creating additional marketing materials, and more.
Besides, you might have to dedicate a resource to monitor the affiliate activities to prevent low-quality marketing or fraudulent activities.
How to Manage and Track Affiliates Using the Software?
Choose the right affiliate software by following the tips mentioned in the sections above. Communicate your goals to the affiliates clearly and make them understand how they can contribute to your business's success. Devise attractive commission structures, offer incentives and rewards, and more to encourage greater participation.
Next, provide each of the affiliates with unique tracking links. This will help you capture and monitor accurate performance data at all times. Review the quality of leads and traffic the affiliates are bringing to your site. Ensure that it matches your target audience and marketing goals. Analyze affiliate and customer data regularly to identify trends, areas for improvement, and opportunities for growth.
What Are the Pricing Models for Shopify Affiliate Software?
Shopify affiliate software typically comes with various pricing models to accommodate the needs and budgets of different businesses.
- Monthly subscription
- One-time payment
- Tiered plans
- Custom pricing
- Percentage of sales
Although most Shopify affiliate software are transparent about their pricing, there might be hidden charges such as setup fees, specific feature costs, integration fees, transaction fees, and more. Hence, it is advisable to review the pricing details thoroughly before investing.
How to Optimize Affiliate Campaigns on Shopify?
Follow the below-mentioned tips to optimize your affiliate campaigns and build a successful affiliate marketing strategy for your Shopify store.
- Set clear goals for your affiliate marketing campaign and define the right KPIs. This will ensure your campaign heads in the right direction.
- Categorize your affiliates into various segments based on their niche, industry, and other factors. This will help you tailor your campaigns according to their expertise and receive tremendous response.
- Design and create impressive marketing materials, such as product images, banners, videos, guides, and more for affiliate promotions.
- Build high-quality, engaging landing pages for your store with intelligent search and product filters, attractive headers, interesting content, and more to optimize your conversion rates.
- Offer competitive commission rates to your affiliates for promoting your products. You can also provide bonuses or special rewards for high-performing affiliates.
- Provide the necessary training to impart desired product knowledge to your affiliates and help them improve their marketing skills.
- Seek feedback from your affiliates to understand their needs and pain points on a timely basis for refining your program.
What Are the Alternatives to Affiliate Marketing for Shopify Store Owners?
Apart from affiliate marketing, Shopify store owners can explore many other marketing strategies to drive sales and grow their businesses.
- Influencer marketing by collaborating with social media influencers and content creators.
- Content marketing to attract potential customers via blog posts, videos, guides, tutorials and more.
- Email marketing to send promotional emails containing offers and discounts to targeted customers.
- PPC advertising to run ad campaigns for placing ads in search results and social media feeds.
Wrapping Up
There are many affiliate marketing software out there, each of them offering outstanding features to help you skyrocket your affiliate marketing efforts. Hence, it is advisable to choose the right one for your Shopify store by evaluating the tools they offer, scalability, the customer support they provide, your marketing budget and more.
Consider this post as a guide to help you select the best Shopify affiliate software for your business and gain complete control over your affiliate marketing program.
