Things to Know When Selling on Etsy
Well, 2014 has come and gone. It was a good year! No seriously...it was great! I mean, not everything was "sunshine and roses" but I had a TON of "Ah-Ha" moments. So many lessons learned to help grow my little Etsy biz. Here's my 2014 evolution:
1. Set Goals
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2. Have Due Dates
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3. Stay Organized
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4. Manage your Time
If you're like me, your Etsy shop is your business AND your outlet. I {Love} my business and consider it my 3rd child. However, my business is not as important as my actual children, my husband, my family, or my faith. It's a balancing act. I've had the pleasure to experience being an Etsy shop owner wearing two hats...being an Etsy shop owner while having a full-time job VS. being a stay-at-home mom. Ironically, it's actually harder to run an Etsy shop while staying at home. This is due to time management. When I was teaching 4th grade full-time, I was forced to follow a ridge schedule. This schedule relied on molding my time based on other peoples timeframes. Now that I stay-at-home, it's up to me to manage my time for myself, my family (specifically the kids), and my business. It requires me to be intensely focused, but more importantly, realistic.5. Offer a Great Product AND Great Service
I've been very lucky to see several business models in action. One model that has NEVER let me down is this: Offer a great product and great service. Having a product that is well made and that you are passionate about is where it all begins. Without a great product, you have no business. However, great service is just as important as your product. It will also take up MOST of your time. That's something you probably never imagined when opening your Etsy shop. A lot of your time will require you to answer Etsy convos and emails (in a timely fashion, of course)...everything from product questions, custom orders, sending proofs, shipping information, and "not-so-great" customer satisfaction...product errors and product damage. Gotta love human error and the USPS! It's very important to have a customer service policy, even if it's not advertised. This is especially true on Etsy since each product purchased can be reviewed. My personal customer service policy is very simple. If the customer is unhappy, make it right. I find that very little online retail companies follow through after a purchase has been made. That's crazy!!! As an Etsy shop owner, you rely heavily on returning customers, as well as customer referrals. Here's an example: Last month I had a customer who received a digital print with a spelling error. It was completely my fault, as the customer had clearly listed their information when ordering. So what did I do? I gladly made another print and had it shipped the next day. I made it a major priority. Even though the error was my fault, the customer gave me a five-star review on Etsy. All because I answered their email quickly, admitted to my mistake, and made a wrong, right...& on my dime. I've since had the same customer order additional prints from me, as well as share my Etsy shop with friends. All because of customer service!6. Build your Brand
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7. Be Realistic
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8. Try Multiple Marketplaces
I've been an Etsy shop owner for two years now. Just a little fish in the big, blue sea. Year #1 I only sold {exclusively} on Etsy. Year #2 I made a goal to sell in other outlets. I need to add a side note here. I still consider all the business I do as an extension of my Etsy shop. I focus on choosing other market places that help me make sales AND promote my Etsy shop. Ok...now where was I...oh yes...in Year #2 I decided to sell items periodically on a daily discount site as well as participate in a local trunk show. Both have been amazing opportunities to help grow my business! But for very different reasons. I find that daily discount sites (I prefer jane.com) is a great way to build traffic to your Etsy shop. Whenever I feature a deal on a daily discount site, my traffic skyrockets AND I get more followers. However, it can be hard to make a huge profit from daily discount sites due to the fact that you have to sell your items at 40-70% off...PLUS most sites keep 25% of your sales. Local trunk shows, on the otherhand, are great for making connections within your community. I only participated in one trunk show this year. It was so fun! I enjoyed meeting people and gaining my clientele. The added bonus was meeting other local sellers...a group of small business owners to discuss, encourage, and help my business grow.9. Choose to Be Best Friends with Bookkeeping
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10. Social Media: Friend or Foe?
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11. Stay in the Know
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12. Celebrate (even small) Success
After all is said and done, just remember, you are AWESOME! You put yourself, your ideas, your talent, and your dreams out there for the world to see. You are braver than most. So celebrate (even the smallest) milestones. Did you make your first sale? Celebrate! Did you hit 100 followers? Celebrate! Did you reach a personal goal? Celebrate! You are doing an amazing job! You've taken a leap of faith & are doing it! You're on the path to completing your goals and making your small business dreams come true.Are you an Etsy shop owner? If so, please share a link to your shop in the comments below. Also, ask me about "Feature Friday". Each Friday, a creative/handmade small business will be featured on my blog. It's completely free! Posts will also be featured on my social media pages as well. Thanks for reading!!!
Fantastic post!!! What a wealth of information you are, sister!!
ReplyDeleteThank you Randi! I can't wait to see what 2015 has in store. Makes me happy!
DeleteGreat post! And I really loved your comments about social media marketing. When I first started out, I thought I had to be on (almost) all of them. Oh my! I was one tired little girl! Now I focus on Instagram and Twitter with Facebook taking a (small) backseat. I wish I'd had your advice when I started out!
ReplyDeleteThese are really good tips, a lot of which are basic elements in maintaining a business, particularly the one about bookkeeping. People tend to forget that even with its homey nature, Etsy is still a business; it is as demanding in terms of management, and even more so since the stores there are mostly run by one person. So you can’t help but be your own accountant, as much as your own warehouse, your own employer, and your own employee. You have to embrace the bookkeeping side of things, though I'm sure you can avail of a software or service that will help you do just that.
ReplyDeleteMeghan Payne @ Denver Bookkeeping Service