Most Shopify merchants never consider selling ad space, because ads on a store feel like a conflict. Done carelessly they are. Done well, a store with steady traffic has inventory that complementary brands will pay for.
Who actually buys
Not competitors. Complementary brands — businesses selling to the same customer without selling the same thing.
A store selling raised garden beds shares a customer with seed companies, tool makers, compost suppliers and gardening publications. None of them compete with you. All of them want that customer.
That is your list, and it is usually easy to write from memory.
Where the inventory is
Blog and guide pages. By far the best. Content pages attract people researching rather than buying, so an ad does not interrupt a purchase. If you run a content marketing programme, this is inventory you already have.
The order confirmation page. Surprisingly valuable. The customer has bought, is in a good mood, and is receptive. Nothing is at risk because the sale is done.
Collection pages, sparingly. Only for genuinely non-competing products, and never above the fold.
Where not to put them
Product pages. Never. Anything that pulls attention away from the buy button costs you more than the sponsorship pays.
Cart and checkout. Same reasoning, more so. Shopify restricts checkout modification on most plans anyway.
Doing the maths honestly
Before selling anything, work out what your traffic is worth to you.
If a page converts at 2% with a $60 average order and 40% margin, each visitor is worth about $0.48 to you. An ad that distracts even 2% of visitors from converting costs roughly $0.01 per visitor. Across 20,000 monthly visitors, that is $200 of lost margin.
If the sponsorship pays $150, you have lost money. If it pays $500 and sits only on content pages where conversion intent is low, you are well ahead.
Run that calculation before you quote.
Implementation
Shopify's theme app extensions let an ad tag load without editing theme code — the merchant toggles it on. Failing that, the tag goes in theme.liquid before </head>, and slots are placed with a div or a CSS selector wherever you want them.
Two things to insist on:
Label them. "Sponsored" or similar, on every placement. Customers trust stores that are obvious about it, and disclosure of paid placement is an FTC expectation.
Watch conversion rate for a fortnight after launch. If it moves materially, the ads are in the wrong place. Move them to content pages and re-check.
The variant worth trying first
Rather than banner inventory, sell a sponsored mention in your post-purchase email or a text placement at the end of your guides. Lower risk to conversion, often better results for the sponsor, and no design work for anyone.