How to Succeed on Etsy - PEI Crafts Council Workshop Saturday May 31st, 2014
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How to Succeed on Etsy
PEI Crafts Council Workshop
Saturday May 31st, 2014Our Qualifications to be on Etsy…
• No business degrees
• No planning
• No financial backing
• No staff
• No experience
• … and frankly no idea what we were doing!Our Workshop in St. Peter’s School
Selling Your Crafts Options:
In stores
Wholesale
Craft Shows
Online
EtsyRetail Store Consignment Pros: Great Exposure to a wide variety of buyers No rep commissions Cons: No money until sold 100% plus markup makes your item unsellable Wear and tear No commitment from store owner Possible damage
Wholesale – Trade Shows Pros: Great Exposure to a wide variety of buyers Terrific possible connections and networking Potential of larger orders Potential exposure to media No rep commissions Cons: Huge expense – booth, hotels, meals, physical booth Fewer and fewer attendees The “What’s New” syndrome Up to 20% cancellation
Wholesale – Reps & Rep Groups
Pros:
Year round showroom for groups
On the road presence by road reps
Great Exposure to a wide variety of buyers
Potential of larger orders
Your own sales force
Easy introduction of new items
Cons:
Commissions
The “What’s New” syndrome
Like having your own staff
Drama
FicklenessCraft Shows Pros: Great Exposure to a wide variety of buyers No rep commissions RETAIL $$$ Usually inexpensive rent Cons: Booth expense – plus accommodations if out of town Attendance can be sporadic
Your Own Online Store Pros: Exposure to a wide variety of worldwide buyers No rep commissions Easy to direct potential buyers to 24 / 7 Cons: Time to set up Initial set up cost Constantly marketing – money and time SEO and getting noticed
WHY ETSY?
Pros:
Easy to set up a shop – no sophisticated computer
knowledge needed
Open 24/7
Huge access to worldwide buyers
Payment processing on line – no A/R
Cheap!!!!! .20 cents per listing and 3.5% selling fee is a
GIFT!
Great source of help available
Sense of community - forums
Shipping program
Always coming up with new features
Over a million storesWHY ETSY? Cons: Stiff competition in some areas People will copy if you have a great items Due to rapid growth systems are sometimes lagging Over a million stores
Our ETSY Journey
Started Officially August 2011 with a $5.00 sale
In the last 12 months:
• Over 43,000 sales
• Over 2.3 million views
• Over 305,600 listings sold
Currently #2 of all time on Etsy15 Tips for a Successful Etsy Store 1. Get Serious – really serious! 2. Research everyone and everything 3. Decide on your mix 4. Price point choices 5. Look professional on the cheap 6. The must-have About Page.. 7. Clear policies… with humor! 8. Pictures, pictures and pictures… 9. Tags, Titles and Key Words… simplified! 10. Become a Listing machine.. 11. Treat your customers like gold… 12. Outside marketing opportunities… 13. Don’t get discouraged.. It takes time… 14. Be immediate! 15. Have fun!!
1. Get Serious No customers or sales = a hobby Understand the difference between “art” and business… Like any business a successful Etsy store is a full time (plus) job Read Etsy’s seller handbook Read the forums – join groups
2. Research Everyone and Everything… Check out your competition on Etsy – get (not steal) ideas and inspirations from “like” stores and your competitors Research on line sites Check Google images Check out top shops at www.craftcount.com Yes.. Check out Alibaba and overseas sites See what you can do better, adapt, or innovate on
3. Decide on Your Mix Decide who your market is – and what your style is Remember Middle America - have entry level products – they will be your bread and butter If you have nothing applicable - design something Appeal to “groups” for larger sales – i.e. wedding parties, teams, businesses Choose compatible products or open a second store
4. Price Point Choices Price to make money Commercial versus one of a kind Avoid a price war
5. Look Professional on the Cheap Get a banner made Have a business card with a compelling reason to return Package professionally
6. The About Page…
Tell a compelling story
Build your brand
Share your personality
Explain your uniqueness
Make people laugh
=
Make people want to buy from you7. Clear Policies Shipping methods and policies Returns and exchanges Discounts Pet Hair – unusual circumstances Payment terms Feedback Anything specific….
8. Pictures… Pictures… ! 18 sales in 2 years Over 5,000 sales in 2 years
9. Tags, Titles and Key Words…
simplified!
One of the MOST important ways to get noticed
Two key areas to concentrate on…
• Your listing title
• The keywords in your listing
Be logical
First 3 words are key
Describe it out loudListing Keywords Look at successful stores selling the same product Think like a customer In Canada
10. Become a Listing Machine Hold on to your seat… OK 100 items Better 200 items Now you are getting somewhere 400 items Big time 1000 items This is the SINGLE most important strategy!
11. Treat Your Customers Like Gold Go the extra mile… free little gift Answer all convos in the shortest time possible Create a relationship Learn from their “wants” Be courteous with outrageous requests Sometimes take a loss – it’s good karma Just laugh…!
12. Outside Opportunities Set up a link to build your own newsletter Social Media: Facebook Twitter Pinterest Hand out your Etsy cards everywhere Other on-line selling venues: eBay, Zibbet etc.. Connect with influential blogs
13. Don’t be Discouraged It really takes time… and builds layer by layer from: Renewed listings Sales Treasuries Links Happy customers telling friends
14. Be Immediate!
15. Have Fun!
In conclusion…. what makes a successful shop? o Our name o Listening to customers o Sparky’s picture o The hours (and hours) we put in o The amount of listing we have o Great suppliers o Great customer service o Building relationships with our o Good prices customers o Our little freebies we give o Jumping on trends o Immediate answering of convos o Constantly adding new items o Quick shipping o Going the extra mile when a customer o HUGE selection needs help o Our About Page o Tracking of parcels o Our great staff o We’re Canadian
How We Ship…. Canada Post The slot of doom U Line Boxes Padded Envelopes Lost Parcels USPS How we get to use the US Postal service First class Priority Fed EX How we charge for Shipping Lost Parcels
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