Etsy is a unique platform with its own set of rules, regulations, and policies that guide shop owners. While the platform has undergone significant changes over the years, many fundamental aspects have stayed the same.
With that in mind, let's explore some of the most valuable lessons learned from running an Etsy shop. These insights are intended to help other Etsy sellers bypass the trial and error phases in the years ahead.
1. Etsy is known for its focus on handmade goods and DIY products, making it an ideal platform for creatives. Before opening an Etsy shop, it’s important to understand your targeted audience, ie, understanding the type of customers you will be catering to.
For example, if you’re selling jewelry on Etsy, there are typically two types of buyers—those seeking unique, customized, handcrafted pieces and those looking for DIY jewelry-making kits. It’s advisable to choose one of these audiences to focus your marketing efforts on, rather than trying to appeal to both.
There are exceptions, such as a jewelry maker offering both custom-made pieces and DIY kits. However, in most cases, it’s best to target either handmade shoppers or DIY enthusiasts.
It’s also important to remember that buyers looking for customized handcrafted items are generally willing to pay more than those purchasing DIY kits or supplies.
2. Etsy provides the canvas, but your marketing paints the picture. While you can't control Etsy's policies or algorithms, you can control how your shop is marketed and perceived online. Over the years, we've learned that flexibility is key on Etsy. Changes, from algorithm updates to policy shifts, are inevitable. Though frustrating, they often aim to improve the platform for both sellers and buyers.
To thrive amidst these changes, focus on strategies that you can directly influence: social media promotion and email list building. These tactics can significantly boost your visibility and sales, regardless of Etsy's internal developments. By actively engaging with your audience and nurturing your customer base, you'll create a strong foundation that can weather any storm.
3. Customers are curious about you, your business, and what you offer. Potential customers are curious about the person behind the business. This is a universal truth in online selling. Many people are intrigued by the lifestyle of creative entrepreneurs, even if it seems ordinary to them. By sharing your story in your ''about section'', profile bio, and other online platforms, you're inviting buyers to connect with you on a personal level.
4. Every business experiences periods of slower activity. Even when you're diligently marketing and building your audience, sales can fluctuate. Remember, this is often a temporary phase. Your "slow season" can last for a few weeks or months, but it's important to stay patient and consistent in your efforts."
As the saying goes: ''Consistency is key''.
5. Profitability is more important than sales volume. While offering competitive prices can attract customers, it's essential to ensure that your business generates a healthy profit margin. Without a strong profit margin, even high sales volume may not lead to financial success
6. The Power of Visuals; Why Photos Matter on Etsy. Etsy shoppers are highly visual creatures. They often make purchasing decisions based on the quality and appeal of the product images. This is particularly true when it comes to handcrafted items, where customers want to see the exact product they'll receive.
Keep in mind that even if you offer customization options, shoppers typically want to visualize the final product. High-quality photos that showcase different customization options can help customers make informed decisions.
Basically, If they can’t see it, they won’t buy it.
7. Avoid frequent SEO changes. Once you create a new listing or edit an existing one, it's best to wait at least 4-6 months before making significant changes. If a listing isn't performing well, consider creating a brand-new listing with fresh keywords, tags, and a title. You can then deactivate the original listing.
For seasonal updates, focus on editing the last 1-2 tags of your listing instead of making extensive changes. This approach helps maintain the listing's SEO momentum while incorporating seasonal elements.
8. You do not need to have thousands of products listed to be found in the Etsy search algorithm. While having a large product catalog can boost your visibility on Etsy, it's not a strict requirement. You can still be found in search results and generate sales with fewer than 100 products.
The key is to focus on creating high-quality, well-optimized listings that resonate with your target audience, and irrespective of this, it is recommended to have at least 150 products simply because it increases your chances of generating more revenue.
This is the first part in this series, stay tuned for more.