People love discounts. Shoppers would wait for months till Holiday periods and black Fridays to get products at lower prices. We can all relate to the joy that overwhelms us anytime we receive four-digit coupon codes from our favorite stores.
And when we speak of golden and evergreen efficient marketing strategy, discounting is definitely one. All over the world, stores always testify to sales increase during holidays and black Fridays. Shopify saw more potential in this and thought of a better reward system.
The gigantic ecommerce platform thought of Shop Cash, a reward program planned to last longer than any of its kind. The company is ready to reward shoppers with millions of dollars in cash for buying stuff on their Shop App.
At this point, you must be wondering, how does this benefit you as a Shopify merchant? I can assure you that much great success awaits you with Shop Cash. In this article, the fourth in the Shopify Edition series, we will introduce you to Shop Cash and how to drive more sales to your store with this program.
What is Shop Cash?
Shop Cash is a program that gives 1% cashback to all buyers who purchase a product on the Shopify Shop App using Shop Pay as checkout. Shopify came up with this idea to boost ecommerce activities on the Shopping App.
The Shop app is a mobile application for iOS and Android devices. It enables shoppers to browse Shopify stores, finds their products quickly, makes payment without breaking a sweat, and track product delivery.
The app was launched during the pandemic so that people could find a local store close to them, check if the store was open, make an order on the app, or even go pick it up if delivery would be longer. Shop App is still very active. Today, it boasts over 100 million users across the globe.
Shop Pay, previously known as Shopify Pay, is one of the checkouts method available on Shopify stores. It’s the best so far and speeds up payment by 4X.
The Shop Cash program is for rewarding Shop App and Shop Pay users. They get Shop cash every time they purchase on the platform. This cashback adds up in the Shop cash balance on the app and can only be used to purchase an item.
The cashback is not deducted from the store’s earnings. Merchants get full payment for every product purchased under the Shop cash program. Shopify is responsible for the cashback.
Also, when a shopper that has shop cash purchase a product, the shop cash balance is deducted first, and the rest is paid through Shop Pay.
This program is not meant to be enjoyed by Shoppers only. It included the Shop Cash boosts that grant merchants the opportunity to attract more customers than their competitors. You can offer them more, about 10X the normal Shopify reward. They would love to patronize your brand.
The Shopify cash boost uses the paid customer acquisition model. It’s one in which you pay a token to the advertising platform whenever a customer is acquired through the advertising campaign. For this reason, you need a monthly budget of $5000 to $10,000 US Dollars to participate in the Shopify cash boost.
You can learn more and apply for Shop cash boost on the Shopify cash boost page.
Benefits of Shop cash and Shop cash boost for merchants
The number of Shop App users will drastically increase when people know about the reward program. Consequently, there will be an increase in sales across all stores on the platform. You can even attract better and get most of the shoppers by applying for a Shop Cash boost.
Win the competition
Shop cash boost is the key to becoming your niche’s number one must-selling brand. Shoppers would prefer patronizing a brand that promises 10X cashback to a brand that only gives 1% cashback. Grab this opportunity now when it’s still hot. Be the leader before others realize it.
The Shopify Edition 2022 new releases cater to both big and small businesses. While the small businesses are using big store data to improve their ads campaigns with Shopify Audiences, big companies could show them seniority with Shop Cash boosts.
A reward system will always work for this generation. Merchants make more sales while shoppers get bonuses. Merchants should seize this opportunity by applying for Shop Cash boosts early access.