Everything You Need to Know About Shopify ‘Shop Cash’ Offers

Shopify’s Shop ‘Cash Offers’ is an exciting new way to acquire brand new customers for your store - potentially at a higher ROAS than Meta or Google which presents an early-mover advantage.

Background to Shopify’s rewards programme

Shopify's initiative, Shop Cash – is a rewards program they launched last year to increase usage of their Shop App. Launched as part of the Shop app, Shop Cash allows users to earn 1% cash back on eligible purchases made using Shopify's Shop Pay online checkout service. The program has been in beta testing with notable brands like MrBeast, Trixie Cosmetics, and Monday Swimwear, and is now available to all eligible Shop Pay users. 

Upon completing a purchase, shoppers will witness their earned rewards reflected in their Shop Pay wallets within the Shop app. These accrued Shop Cash rewards can then be redeemed on subsequent purchases made within the app, providing users with added value and incentives for their loyalty. Emphasizing convenience, users can use their Shop Cash balance alongside their preferred payment method during the checkout process. This rewards program is an immediate offering on all eligible Shop Pay purchases for both merchants and shoppers located in the U.S. – a testament to Shopify's commitment to enhancing the overall shopping experience.

Enter - Shop Cash Offers and how it works

Shop ‘Cash Offers’ was introduced recently as an add-on to the rewards programme - and functions as a marketing channel for Shopify Merchants.

When Shopify Store Merchants craft a Shop Cash offer, it gets showcased to potential new customers browsing on Shop. It's important to note that customers who have previously made purchases from your store won't see this Shop Cash offer. This exclusive promotion is tailored to attract fresh faces to your brand.

When a new customer takes advantage of your Shop Cash offer, Shopify covers the Shop Cash portion of the sale. What does this mean for you? You receive the full value of the order, and your cost per acquisition only comes into play for successful sales. It's a win-win situation – customers enjoy added value, and you expand your customer base without bearing the cost of Shop Cash redemptions by new shoppers.

In essence, Shop Cash offers provide a strategic and cost-effective way to entice new customers to engage with your store on the Shop app, fostering both growth and customer loyalty.

Eligibility

To access the exclusive benefits of Shop Cash offers, your store must meet specific criteria. These requirements ensure that participating stores are equipped to maximize the advantages of this innovative program. Here's a breakdown of the prerequisites:

Shopify Plus Plan or Active Shopify Credit Account:

Your store must either be on the Shopify Plus plan or have an active Shopify Credit account.

Location in the United States:

Shop Cash offers are currently available only to stores located in the United States.

US Shopify Payments Account with USD Acceptance:

Your store should have a US Shopify Payments account capable of accepting transactions in USD. Additionally, Shop Pay must be activated for seamless participation.

Meeting Shop’s Merchant Eligibility Requirements:

Ensure that your store complies with Shop's merchant eligibility requirements, maintaining alignment with the platform's standards.

For stores in the United States that are not on a Shopify Plus plan, there is an opportunity to apply for early access to Shop Cash offers. This allows eligible stores to proactively engage with this exciting program, even without Shopify Plus membership.

How to create a shop cash offer 

Creating a Shop Cash offer is a straightforward process. Follow these steps to craft an enticing offer:

Access the Shop Channel:

Navigate to your Shopify admin and click on "Settings" > "Apps and sales channels."

1.Enter Shop:

From the Apps and sales channels page, click on "Shop" and then open the sales channel.

2. Initiate Offer Creation:

Click on "Advertising" and locate the "Create offer" button in the top right corner.

3. Define Offer Details:

Provide a name for your offer.

4. Set Budget Parameters:

In the Budget section, specify your desired Cost per acquisition, Minimum order value, and Daily budget.

5. Expand Audience (Optional)

In the Audience expansion section, choose whether to Advertise the offer on Facebook & Instagram by selecting or deselecting the checkbox.

6. Schedule Your Offer

Define the start date and time for your offer in the Schedule section.

7. Optional End Date

If desired, set an end time for your offer by selecting the "Set end date" checkbox.

8. Agree to Terms and Save

Accept the terms and conditions, and then click "Save."

How to optimize your Shop Cash Offers- 

Embrace experimentation

Leverage experimentation to optimize your Shop Cash offers by incorporating insights from Shopify's guide on offer optimization for enterprises.

Use the minimum order value wisely.

Strategically implement the minimum order value, as suggested in the Shopify optimization guide. Utilize this feature wisely to encourage desired customer behavior while maximizing the impact of your Shop Cash offers.

Customize your Shop storefront and inventory.

Customize your Shop storefront and inventory following the recommendations outlined in the Shopify guide on Shop Cash offer optimization. Tailor your online presence to align with your brand identity and create a more engaging shopping experience for customers.

Create a post-purchase offer. 

Implement post-purchase offers effectively, as advised in the Shopify guide. Enhance customer satisfaction and loyalty by crafting enticing offers that trigger after a successful purchase, adding extra value to each transaction.

Enhance your store with Shop Minis  

Boost your store's performance with Shop Minis, drawing insights from the Shopify optimization guide. Explore how these compact, high-impact visuals can elevate your Shop Cash offers and attract your audience.

Visit here for more details.

Remember, the success of Shop Cash offer optimization is often a dynamic process that involves testing, analyzing results, and making informed adjustments. Regularly revisiting and refining your approach based on performance data can contribute to sustained positive outcomes for your Shopify store.

Don’t forget, our team are here to help accelerate your eCommerce business with Facebook, Google, TikTok and Pinterest ads and Klaviyo email marketing. 

Let’s chat about your business and goals - email us on hello@webtopia.co