First came Shopify Audiences, which enabled e-commerce brands to expand their network of buyers and tap into an audience of millions of new shoppers.
And now you can turn that audience into converting customers with Shopify’s latest release, Shop Cash. It’s both an appealing customer rewards program for shoppers and a powerful vehicle for customer acquisition for your brand.
Interested? Keep reading to learn more.
What is Shop Cash?
Shop Cash is a customer rewards program available to Shop App customers. Customers can only redeem their Shop Cash rewards for purchases made in the Shop App. Customers earn 3% in Shop Cash when they use Shop Pay for eligible orders in both the Shop App and for your specific store.
When a customer pays for an order with their Shop Cash, Shop Cash is applied first, and they pay for any remaining balance using Shop Pay. You get paid using Shop Cash in the same way you receive payments for Shop Pay orders. And you do not incur any additional charge for payments you receive in Shop Cash.
How Does Shop Cash Offer Cash Rewards to Customers?
After a customer makes a purchase using Shop Cash on the Shop App, they will be awarded Shop Cash rewards. They will then receive offers from stores to multiply their Shop Cash balance. These offers incentivize them to continue shopping on the Shop App and with an attractive offer to expand their Shop Cash, they will be encouraged to use their Shop Cash at your store. Using Shop Cash towards their next purchase will save them money as a reward for their purchase.
What Are The Benefits of Shop Cash?
Simply put, Shop Cash is a win-win for your customers and you. Customers are rewarded with Shop Cash after their eligible Shop Pay purchases, and you can incentivize customers to shop at your store using their Shop Cash.
Shop Cash puts your brand in front of millions of engaged shoppers already making purchases on the platform. Tapping into Shopify’s massive network of 100 MM active shoppers will significantly elevate your brand’s overall visibility throughout the Shop app.
The opportunity to earn Shop Cash will naturally incentivize customers to make purchases from your store and then continue making purchases with their Shop Cash to earn more rewards. After all, who doesn’t like getting cash-back rewards from shopping?
And it gets even better. Shop Cash enables you to enhance the performance of your marketing campaigns to acquire and re-engage customers.
It’s a tool for customer acquisition that just keeps on giving!
How Do Shop Cash Campaigns Work?
Shop Cash offers your brand opportunities for free, strategic marketing using push, email campaigns, and other promotions throughout the Shop App. You can also create opportunities to re-engage customers to strengthen customer connections and further enhance your customers’ lifecycle values.
You can use Shop Cash offers to incentivize first-time sales at your store. Your Shop Cash offer will only be presented to new customers who haven’t yet shopped at your store.
Setting up campaigns on Shop App is pretty straightforward, but it can be incredibly impactful for your brand.
First, you set your campaign budget, then you select your maximum cost per acquisition (CPA) and Shopify will then help you target customers at your desired CPA. Note that your Shop Cash offer amount can never exceed your fixed CPA, so you won’t be hit with any unexpected charges. And you only pay for successful conversions.
This means that you are more in control of your customers’ acquisition and, consequently, potential ROI than ever before.
How Can You Get Started With Shop Cash?
To get started with Shop Cash offers, you can now apply for early access.
Elevate The Performance of Your Marketing Campaigns
Taking advantage of Shop Cash offers to incentivize your customers can help your brand stand out on the Shop App and maximize customer acquisition and conversions to unprecedented levels.
In the fierce world of e-commerce, especially in the wake of ongoing IOS security updates, effective marketing that fosters strong connections with your customer community means everything to the success of your business. If you want to enhance the performance of your marketing efforts to scale your growth to prodigious new heights, connect with the digital marketing experts here at The Snow Agency.
After all, as Shopify says, it’s time to #ConnectToConsumers.