50% off sale!!
Wednesday, August 20th, 200850% off my featured items today.
Items featured will be changed throughout the day.
Come check it out.
50% off my featured items today.
Items featured will be changed throughout the day.
Come check it out.
Thanks for reading and I hope this post was worth the wait!I was going to save this post for the last in the series as before spending time and money on promotion and advertising, your shop should be in tip top shape, but I have had several request to go ahead and post it, so here you go :0)
Do you like pushy car salesmen? You know the one’s I’m talking about. The ‘I can get you in this new car you don’t need and can’t afford TODAY’ they play the ‘woe is me, my kid needs braces, my wife lost her job, my mom needs surgery’ card to tug on your heartstrings and try to get sales.
Don’t be like that. And yes, there are Etsians like that. They are so desperate for a sale because they haven’t made one in one day, two days, 2 weeks or 4 months, doesn’t matter how long, it’s always too long. But when you look in some of these shops begging for sales you see dark, blurry pictures, no measurements in the description, no details about the materials used…you can’t expect your promotion to work if your shop isn’t up to par. As Etsy grows, this is going to become increasingly important.
Promotion is not screaming “LOOK AT MY SHOP!! I have JUST what you need. I know you’re looking for a crocheted hat, but here are a pair of my earrings you might like. Not your style? Ok, well what about this painting I did?”
Q: So what do you do to promote and advertise your shop? What are your questions about way to promote and advertise you’ve heard of?
A: I list/relist/renew often. Several times a day in fact.
A: I post my newest or most relevant items in several promo threads a day. Plus I start my own promo thread some days.
A: I spend all the time I can on the Etsy Forums, in all the forums.
A: I buy a showcase as often as I can.
A: I have a blog.
A: I’ve been thinking about getting a Flickr account to promote, but I’m really sure how that will help my sales…. and is a pro account worth it?
A: I have a MySpace page, but I haven’t gotten any sales from it.
A: What is a plugboard and how do you use it.
A: I’ve thought about buying ad space on websites and blogs, is it worth it?
A: I post my link everywhere, does this help?
A: Is project wonderful worth it? Is it expensive?
A: What does it mean to ’stumble’ someone or to be ’stumbled’?
A: What do you get out of joining a streeteam? How does that help promote my shop?
A: What do people mean by sending out promos? What are good promos?
A: Should I promote my online store offline?
There are things I know I have missed or forgotten to put in this post. There are so many ways to promote your shop. More ways than most people use or even realize. I know it sounds corny, but you do have to spend money to make money. Do your market research and plan where to put your advertising dollars. It will be worth it in the end, when you have repeat customers who found you through an ad or promo.
In slow times, buy another ad space or two, had out more business cards, try a new venue for advertising and wait for sales to pick up. :0)
One of the hardest thing for many sellers is pricing. Many things on Etsy are servely under priced in hopes of getting sales. This doesn’t always equal sales, as many shoppers equate a low price with low quality product and will pass your shop on by. If it does sell for the low price, once you add in PayPal and Etsy fees and overhead and supplies, you don’t really make any money.
There is an art to pricing. It’s called a formula.
So many times people ask, “how’s the price on this?” This tells potential customers you aren’t sure of yourself, your product, your skill, your talent, or your price.
Let’s look at an example. You might see that you took $5 worth of supplies, made it into something, list and sale it on Etsy for $10. You think you made a $5 profit, right? Easy math! They math is easy enough, but the formula is flawed. Let’s take a look:
So you took $5 worth of supplies, sold it for $10 and spent 30 minutes assembling/creating and 5 minutes to photograph it, 5 minutes to edit photos and 5 minutes to list it. Then you go on the forums and spend 5 minutes promoting it in various threads and another 5 minutes blogging about your new creation.
So for an hour of work you made $3.06…..would you take a job making $3.06/hour???
3 Simple things to consider when formulating your prices:
Sounds easy enough, right? Think you got it down? Check the detailed list below.
Thing based on each product:
Yearly overhead costs to be evenly divided between all products you make:
Now that you’ve considered everything, you have to put it together. There are tons of formulas out there you can use, here are just a few….
- (supplies + packaging) x 4 + Labor + 10% = Base Retail Price
- 10% is for overhead, normal overhead is 10-20%
- x4 is your value factor, lower for wholesale raise for high end fairs
- 2 x (supplies + labor + overhead) = cost of sold goods
- Wholesale price: 2 x ($2 + $3 + $1) = $12
- Retail price: 2.5 x $12 = $30
I’m not a big fan of these formulas, but if you don’t want to put a lot of time and effort into it and are not doing your Etsy shop as an income, I and other sellers like me who do this for a living would much rather you use one of these simple formulas than to price $5 worth of supplies at $10! :0)
- Labor + Materials x 3 = wholesale
- Labor + Materials x 4 = retail
Formulas that use percentages are best as they are easily adjusted to fit your venue as some venues will allow a larger mark up than others.
You overhead should be adjusted to fit your needs and your hourly wage should fit your craft, Jewelry makers can easily charge $20/hour while someone who crochets or quilts could not.
My hourly rates are as follows $10 for paper crafts, $15 for graphics and $20 for jewelry.
The above formulas won’t work for everyone in every field, but they are a great place to start. Try them out and compare your prices to fellow Etsians selling the same items and adjust them to suit your needs.
The easiest thing to do is set up a spreadsheet in Excel (or buy one off Etsy) and use it to simply input your data, adjust your overhead, hourly wage and value factor and let the spreadsheet do the work for you!
To calculate Etsy and PayPal Fees http://etsy.ppcalc.com/
To calculate paypal fees without Etsy fees (if selling elsewhere) use http://ppcalc.com/
Have a different formula you use? Email it to me and I might add it to the post. If I do I’ll give you credit!
If you missed the 1st post on Tips for selling on Etsy, you can read it here other articles are linked within that post.
So we’ve talked about your product, now lets talk about listing that product.
Your customers can not pick up your product, touch it, feel it, examine it, turn it to see it from all angles, so they need YOU to do that for them with your photos and descriptions. The better you do this the more sales and happy customers you will have.
Photos -
Buy the best camera you can afford. It is a great investment in your online business. You camera should be as many megapixels as you can afford and have a macro setting and you should be able to adjust the white balance. Then get to know your camera! Play with settings, lighting, angles, zoom with one product (especially if you have a product type you make over and over with variations, such as earrings or cards) and see what works best.
You need good, clear, crisp, well lit photos in your listing. Be sure to use all 5 photos.
I take about 30 photos of every product I list, at least two of every angle, then I pick the 5 best and edit them to show off my items. Always take each picture twice, in case one turns out fuzzy for some unknown reason.
Capture your product form all different angles. Get close ups of details. Show the product in use if appropriate, this is NOT appropriate for earring and hats. Show scale by using a ruler, but never in the 1st photo.
Use a light box or take photos outside, being careful to avaoid casting shadows on your product. Don’t photograph your products inside under bright lights, natural light is best.
Use interesting props.
Don’t use a background that will compete with your item or one your item will blend into. Your background should be simple and contrasting so your item pops.
Use the macro setting on your camera (the little flower) for close up shots to show texture and detail. Don’t zoom in when you are in macro setting, just move the camera closer to the item being photographed.
If you don’t have a macro setting, turn your flash off and get as close as you can and still get a clear photo. You can crop the picture later to show detail.
Jewelry photo tip, having something in the background with detail, such as laying your earring on an open book or placing your bracelet on a patterned scrapbooking paper, will help your camera focus on your items better.
Having problems with fuzzy or blurry photos? Try propping your arm on a sable surface to give your arm, hand and camera more stability.
Photo editing software is your friend. Find one and learn it, work it and use it! There are free options you can download http://tiny.cc/s03Nw
Set up your own mini photo studio. Fasten two pieces of 12″x12″ wood together to make a 90′ angle (adjust for the size of stuff that you shoot) You can use different papers and fabrics to have lots of background colors and textures. Wrinkles in the fabric add texture to a background without over whelming your product as does paper wadded up and then flattened back out.
Place your mini studio with the light coming in behind it with no hard light (glare, shadows) hitting your paper or product.
If the photo needs some extra punch, take a piece of paper and fold it in half and set it just out of frame of your shot this will bounce a little bit more light on to the item you are photographing.
Descriptions -
Give details, lots of details. Use lots of adjectives. Write your listing as if you are talking to someone. Be sure to use the word “you” a lot and avoid “me” statements. Your customers want a product made for them. Instead of “I love this print” say “YOU will love this print” Describe it as if there were no photos, as if you were telling a freind about your new creation over the phone.
Statements like “this item will add warmth to YOUR kitchen” are what sells. Cheesy I know, but I paid big bucks in my first business venture to have a marketing guru help me with my copy on my website, and this is what she told me :0)
ALWAYS, ALWAYS, ALWAYS give measurements and sizes, in inches and centimeters (or mm, which ever is appropriate) There are buyers from all over the world shopping online.
Be sure to tell the buyer everything they need to know in the listing. Don’t assume that they will read yourshop announcement or profile for additional information. If they need to know it, put it at the end of the description.
Check your listing for grammar, spelling and typos.
Tagging- use every tag you can without mistagging. Use the obvious, jewelry, earring, sterling silver, then pull those adjectives you used int he listing to your tags, use colors, patterns, styles, ect such as pink, retro, rockabilly, fun, sparkle, fuzzy, ect you never know what a customer might search for. Also be sure to use different variations of tags such as promo and promotional or ad, ads, advertising, advertisement.
And I’m sure there is much more I have missed, as there is tons you can do to your photos and listings to make them better. I would love for other sellers to leave comments with tips I missed.
Never settle! Never get comfortable! Constantly try to improve your photos and descriptions.
Stay tuned for part 3! Now go retake some photos and punch up some of your descriptions!