As an online business owner, you probably already know that people trust peer recommendations more than any form of advertising.
That's why we're excited to give you a new way to motivate people to spread the word about your brand:
With Kickbooster, you now have the option to pay your affiliates with store credit for their successful referrals!
How, you ask?
With Kickbooster’s latest feature — store credit as a reward!
Store credit can be an alternative to cash commissions. It’s especially effective for those customers-turned-promoters who frequently make purchases from your store.
It can also be a great way to build a positive relationship with customers. They'll be excited to get something out of helping their friends discover cool, new products.
Why should you offer your affiliates store credit as a reward?
There are four BIG reasons to pay your affiliates' commission in store credit instead of cash.
- The most important reason is you can offer a much higher reward percentage when it's in the form of store credit vs a "cash" reward. For example, if you're comfortable paying your affiliates on Shopify 20%, depending your margins, you can probably offer 40-50% rewards in the form of a store credit. It might be the same net cost to you, but drastically better to your affiliates!
- This is another big one, there has been a lot of research about the benefits of getting customers to return for a second and third purchase. You'd think if you got a customer return 2-3 times their LTV should be 2X-3X right? Studies have show that LTV of those customers is actually between 15X-20X of one-time purchasers. After they return 2-3 times they're drastically more likely to keep doing so. Another reason Store Credit is so good!
- You want to encourage your customers to participate in your referral program and give them an easy way to use their commissions on your store. This way, you pay commission only when the referral leads to a sale. Then, that commission comes back to you when spent as store credit.
- You are trying to acquire new affiliates (like industry influencers, vloggers, or new customers) who are motivated by free product. Offering store credit commission for successful referrals is a great way to incentivize these types of affiliates to promote your products.
Kickbooster already allows you to run multiple referral campaigns, discount offers, and cookie durations, but offering different commission types can be a game changer for appealing to everyday customers.
Here are a couple of examples of how affiliates with different goals might use Kickbooster's commissions types:
Affiliate type 1: The loyal customer
Let’s say you own an online store that sells business attire for women. You might have a customer who always gets compliments from coworkers when she wears your clothes.
Obviously, she wants to get something out of telling her coworkers where she gets her awesome clothes from!
When she joins your referral program, she can choose to participate in either of your referral campaigns: 20% commission paid in store credit or 10% commission paid in cash.
Since she buys from your store on a regular basis, she might decide to sign up for the program that pays in store credit so she can put the commissions toward her next purchase. It can also motivate her to talk to her peers about your products.
Affiliate type 2: The influencer
But if there’s an influencer who wants to add to her income, she can opt to sign up for 10% commission paid in cash through your referral program.
That means the influencer can show off your clothes on her beauty and lifestyle blog and monetize her content with her unique Kickbooster referral link.
Her blog speaks to your target audience, so you can reach more potential customers while she can make more income thanks to your referral program.
Referral marketing that works for every kind of affiliate
Whether you’re encouraging customers to become brand advocates or trying to tap into influencers' networks, Kickbooster gives you the power to set up a fully customizable affiliate marketing program on Shopify in minutes.
Ready to start an affiliate program on Shopify? Grab a free trial today, and start using store credit to motivate your customers to spread the word!