How to Make Money on Shopify in 2022? 4 Excellent Ways

It’s no secret that Shopify is a great platform for ecommerce businesses, with over $54 billion in GMV just in the last quarter of 2021. But what are the best ways to make money on Shopify in 2022? In this post, we’ll outline four excellent strategies that you can use to start making money right away. So whether you’re just starting out or you’ve been selling on Shopify for a while, these tips will help you take your business to the next level. 

Why Is Shopify the Best DIY eCommerce Platform?

Shopify has become one of the most quintessential DIY digital commerce platforms. It features powerful, highly customizable modular software with an extensive list of Shopify apps. These apps allow eCommerce business owners to add unique functionality to their stores. 

Shopify makes it easy to sell your products online by integrating with other platforms like Facebook, Instagram, Pinterest, Google, Hubspot, Zendesk, Mailchimp, Spotify, Shipstation, Pirate Ship, Quickbooks, and many more. Even if you currently run a successful brick-and-mortar store, it’s worth exploring what an eCommerce storefront can do. You might find out that your product or service sells online even more than it does locally! 

How to Make Money on Shopify with Better Marketing

There is one significant downside if you choose to sell your products online through a Shopify store: there’s no built-in marketplace. Amazon, eBay, and Etsy feature powerful algorithms to connect potential customers with products they’ll love. Shopify gives store owners total control over their brand and customer support, but the tradeoff is that business owners must invest more into marketing to drive sales.

The following tips will help you earn money online by turning potential customers into raving fans with a fantastic Shopify marketing strategy in 2022.

1. Build a Social Media Marketing Flywheel

Social media marketing is an excellent way to build your Shopify store. The best social media marketing strategy will integrate photo, video, and text content on several platforms. To cut through the noise, each piece of content should add value to your followers. You need to give your audience a reason to engage with your posts instead of with their friends.

Don’t overdo it with your CTAs –– the key to growth on social media is to give more than you take!

Pros

• Social media is one of the fastest ways to gain attention if your content goes viral.
• The barriers to entry for social media are low, allowing you to get started immediately.
• Social media ads feature some of the most powerful targeting tools in the entire marketing industry.
• Some forms of social media marketing are either cheap or free.
• Social media is a great way to improve your eCommerce SEO!

Cons

• On social media, you don’t own your audience. If you get de-platformed –– or if your customers boycott the platform –– you can lose your reach overnight.
• Paid ads can get extremely expensive if you don’t take the time to optimize them. Don’t assume that your campaigns will do well without careful targeting and testing.

Tips for Getting Started

• Test different types of ads: Facebook ads, Instagram ads, and Pinterest ads can drive high conversion rates if you execute a long-term targeted ad strategy with A/B testing. 
• Provide as much value as you can with your content: When it comes to content marketing, it’s important to balance quality and quantity. You don’t want to overwhelm your potential customers with too much content, but don’t wait so long between posts that they forget about you.

2. Don’t Underestimate Email Marketing

Email often gets pushed aside by business owners as a form of legacy marketing. But even in our social media landscape, killer email campaigns continue to drive the highest returns on investment for marketers. The key to email is balance –– don’t send too many emails, and when you do, always provide value to your customers.

Discount codes, blog posts, educational content, community updates, and product announcements are all great things to include in your email campaigns.

Pros

• With an email list, you can keep in touch with your customers no matter what happens in the social media world.
• Email provides an excellent way to reward loyal customers with exclusive content and discounts.
• Aside from the cost of email marketing software, email is much more affordable than advertising.

Cons

• Sometimes, email services will mark your emails as spam. The best way to avoid this is to pack every email with tons of value so that people open your emails instead of deleting them.
• Some people don’t check their email as often as they check social media.

Tips for Getting Started

• Email is all about killer subject lines: Entice your subscribers with exciting headlines every time to drive higher engagement.
• Deploy a double opt-in: While it increases friction for your customers, it also ensures that only your most engaged fans will sign up for your email list. This option will help keep your emails out of spam folders.
• Always send a test email to yourself: We joke about the intern who sends the email too soon, but it’s not a joke when it happens to you! Always double-check your emails before you send them.

3. Build Influence with Affiliate Marketing

One of the fastest-growing forms of marketing is affiliate marketing. By partnering with social media influencers and bloggers in your niche, you can get your products in front of engaged audiences you might otherwise be unable to reach.

Pros

• For some brands, influencer campaigns can drive higher returns than targeted social media ads –– especially with the latest privacy updates from Apple and Google.
• Influencer support helps you build word of mouth in a way that many other forms of advertising can’t.
• Influencer campaigns can often yield sales sooner than other campaigns.

Cons

• It can be tough to find trustworthy influencers in your niche.
• Influencer marketing is riskier than other forms of marketing because influencer mistakes can affect your brand reputation.

Tips for Getting Started

• Build a network of different types of influencers: Don’t focus on one platform –– reach out to influencers who make a variety of content, including videos, podcasts, and blog posts.
• Carefully interview your influencers: When choosing an influencer, you need to look for more than just a large audience. Make sure that your values align with your influencers to avoid any bad marketing disasters down the road.

4. Invest in Your Marketing Strategy As Soon As Possible

Building a Shopify store takes time. You have to build a reputation with an acute marketing strategy and excellent customer support. Don’t let a small marketing budget slow your Shopify growth in 2022.

Payability is a fast, flexible funding solution for Shopify sellers. 

• Instant Access provides accelerated daily Shopify payouts for eCommerce sales.
• Instant Advance provides immediate access to up to $250k in growth funding for Shopify sellers who are ready to scale.
• Advance Line provides scaling Shopify sellers with a flexible line of credit to invest in marketing, payroll, and more without compromising control over their business.

Payability is built for efficiency. Skip the paperwork and apply online to get approved in as little as one business day –– no credit check required! Plus, Payability lets you access your money whenever you need it with Instant Transfer, Same Day ACH, or wire. Lastly, Payability puts money in your pocket with up to 2% cash back from the Payability Seller Card.

Find out how Payability can take your Shopify store to the next level today!