How I Made Money FAST With A NEW Etsy Store

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It's near impossible to get noticed on Etsy, and  the market is super flooded with people trying   to sell the same products! Have 20 listings in  my store and spent two weeks on them. In three   months, I've had two views! I've been in print  on demand for two plus years, I have 500 designs,   and I barely make any money! So, you know, I get  comments like that every day on this channel. And   I find it really interesting because about a  month or so ago I found a product niche that   I wanted to test out on Etsy using print-on-demand  products, so I created a brand new Etsy store. And   over a week I slowly added in 25 print-on-demand  products using designs that I created with Canva   and Midjourney. And a day later, the store had  its first sale. And since then I've been slowly   adding in more products for testing and as I have  the sales have also organically grown. In fact,   I checked my sales today and saw that in the  past week this test store has done about $200   worth of sales with a profit margin of about 25  to 40 percent depending on the product that's been   sold. And just to clarify, the store is brand new.  It has no social media presence or social proof.   It has no store reviews. And it does not sell  custom products. The store is working entirely   passively on autopilot! So that got me thinking.  Why is it that I set up a little test store and   within weeks, it became a passive income source  that I can now grow, whereas others spend two   years uploading 500 designs and are lucky to make  even just one sale? It's an interesting question,   right? So I wanted to make a video to share with  you the seven things that I did that I think made   a pretty big difference. One: I optimize listings  for the new listing impression algorithm. So if I   had to guess, I think that the most common  question that I get asked is this: "Sarah,   how can I get people to actually view my items on  Etsy? They just get lost in a sea of products!"   It's a good question. So you have to understand  that there are two main sources of traffic on   Etsy. The first is very simple it's search  traffic. It's when you search for an item and Etsy   shows you results. And then the second, arguably  more important form of traffic, is the recommended   items. It's when you come to, say, your home page,  and Etsy shows you items that they think that you   might like. And over time for many people this has  become the primary way that they buy products on   Etsy. And it's no surprise because it's how most  big websites work these days. Take YouTube. Yes,   you can come to YouTube and do a search for a  video topic that you want to watch, but that's   not how most people do it. Most people just come  to their home page and watch whatever video that   YouTube recommends to them. Well, what websites  like YouTube and Etsy will do is they will give   new videos and new products Test Impressions on  showcase pages like the home page. Basically,   when you upload a product to Etsy, they will  show it to a small number of people on say,   their home page and see if anybody clicks on it.  And then like Ddomino's if someone does click on   it, they'll then show it on more home pages,  which will then get more clicks, and so on.   Etsy makes money by having more products and  more stores succeed which is why they designed   their algorithm to give all stores including new  stores a chance. So it was this algorithm that   I took advantage of to bring in the customers to  my store. However, there is definitely some luck   involved with it. Because you think about it, if  you create say a dog t-shirt, but Etsy goes out   and puts it on the home page of someone that likes  cats, then that person will never click on your   item, and this traffic source might fizzle out.  Sadly we can't control who Etsy tests our product   in front of, however we can increase the chances  that Etsy will test our products in front of the   right people by giving Etsy as much information  about it as possible. Which means then that you   need to be very descriptive with say, your title,  your description and your tags. But it also means   filling out as much information as you can,  such as filling out the product attributes.   That way for example if someone likes items in  the hippie niche and your item is in that style,   Etsy can put it in front of someone who has  a history of buying items like that. Two:   I focused on quality not quantity. Another key  to keep in mind that if you want to make money   quickly, is that you have to be efficient with  your time. Which is why I find it very strange   when people just add in hundreds of items into  their stores, just because. I think for example   of the viewer from earlier who'd spent two years  uploading 500 designs and getting no traction.   Look I can't see their store so I can only make  guesses, but my guess is that their designs were   probably low quality and that they weren't  interesting enough that if somebody saw it,   that they would want to click on it. That's also  why I find it so odd anytime someone asks me:   "Sarah, why do you spend so much time to talking  about creating products and designs to sell, and   you don't talk about traffic?" Because the answer  to that of course, as I've hopefully explained in   this video, is that if you have great designs,  that therefore equals great traffic. As you can   see, when Etsy puts your new product in front of  a test group of people on say their home page,   they cannot see anything about your store. They  can't see how many reviews you've had how many   sales you've had the only thing that they can see  is your product picture. People are only clicking   on designs purely by how they look. And if you  get a click from those test impressions, Etsy will   then put your product in front of more people,  which will result in more clicks, which over   time more sales. Which is exactly why I spend so  much time talking about this and why I would never   recommend focusing on uploading a specific number  of products like I know a lot of people do. And by   the way if you're watching this and you would like  to learn how I create and design products that   entice customers to click on them and buy them,  you should be sure to download my free ebook which   I will have a link to in the video description  below. By the way people have been reading my   ebook and they have been reviewing it on Goodreads  which I absolutely appreciate so thank you so much   for everyone that's done so! Three: I used myself  as a yardstick to create clickable products. Okay   I can imagine a bunch of people are saying: "All  right Sarah, you say it's a waste of time to just   add in bad designs that are not clickable. But how  am I supposed to know if my design is good or if   it's bad?!" After all what makes art good or bad  it is entirely subjective and that is absolutely   true. Which is exactly why I love to use myself  as a yardstick. To do that, pick a niche that   you yourself are a customer in. So like me, do  you love dogs and like to buy dog merchandise?   Great! Create designs around that. Or are you  instead passionate about hiking and camping and   like to buy merchandise themed around that? Great!  Create designs for that niche instead. By doing   that you you can always ask yourself an important  question while designing it: "Okay, if I saw this   design on another product being recommended to me  would I want to click on it if I saw this design   as a t-shirt on Etsy, would I click it and open  it up?" If so great upload it. If you wouldn't,   don't bother. Four: I didn't copy others - I  created designs that filled a gap in the market.   So in addition to using yourself as a yardstick,  another really easy way to create a great design   is to focus on niches and sub niches which don't  have a lot of good options already. Case in point   let's leave Etsy for a moment and actually hop on  over to another website, Redbubble. I once had a   viewer who left a comment sharing their Redbubble  store with me telling me that within a few days   of opening their store that they had made money  which was pretty cool. So I decided to check out   and open their store and when I did, I quickly  realized that all of their sales had likely come   from just two designs that they had created. And  one of them was this a photo of a rocky beach that   customers really like to buy as a bath mat. So out  of curiosity at the time, I went to Redbubble and   did a search for other bath mats featuring beach  photos. And I quickly noticed a pattern. Everyone   else had uploaded photos of standard cliché white  sandy beaches. And nobody else, except the store,   had uploaded any photos of rocky beaches. Which  was a great opportunity because while it's true   that probably 90% of people prefer white sandy  beaches, there is a small percentage of people   their prefer rocky beaches. As there were no other  options, any decent photo that had been uploaded   would have been considered an amazing product to  these customers, which is why focusing on niches   like that is so much easier in my opinion. So  on to my next tip but before I do, a quick word   from today's sponsor. Me! Yes, there are so many  shady sponsors on YouTube these days that for now,   I have decided to sponsor my own videos. So I'm  sponsoring it to let you know that if you would   like to create your own Etsy print on demand  store but you don't know how you should be sure   to check out my course the Ecomm Clubhouse.  It shows you how to set up an Etsy store,   how to come up with product ideas, and even how to  optimize Etsy listings. If you'd like to see if my   video course is right for you I'll have a link  to it in the video description but for now, back   to the video. Five: I focused on mid-tier pricing  to take advantage of price anchoring. So another   question I get asked often is this: "Sarah, how  am I supposed to make any money on Etsy after   product costs and Etsy fees?!" And I'm honestly  a bit confused when people ask me these questions   to be honest because there are so many free Etsy  profit calculators out there like this one here   from Craftybase, which you can use to check to see  what the profit margin will be for your product   if you set it at a particular price. That way you  can make sure that you're making a profit on your   product rather than making a loss. Now of course  I'm sure some people are going to reply with:   "Oh Sarah, have you seen the prices that people  are pricing their items for on Etsy? People are   selling their t-shirts for less than ten dollars.  Sarah, if I sold my t-shirts for a list of ten   dollars on Etsy, I would make no money! It's  impossible to make a profit." And I always think   well gee here is a crazy idea, maybe don't try to  compete to have the lowest price possible! Because   frankly you don't have to, and I believe you  shouldn't thanks to the psychological phenomena   of price anchoring. See here's the really strange  thing when you start to think about it, pricing   is entirely subjective. If I ask 10 different  people what a t-shirt is worth chances are I'll   get a range of different answers because no one  honestly really knows what a t-shirt is worth. We   just make up a price, and the way that we usually  do that is with price anchoring. Price anchoring   is a psychological phenomena where we use other  products prices to help us decide what another   product's price should be worth and most people  decide it should be somewhere in the middle. An   interesting study with beer showed this in action.  In the study a restaurant put two beers on the   menu a premium beer for two dollars and fifty  cents and a cheap beer for a dollar eighty. Well,   eighty percent of people would choose the premium  beer, not a cheap beer. In phase two of the study   a restaurant listed three beers on the menu -  a premium beer for two dollars and fifty cents,   a standard beer for a dollar eighty, and a super  cheap beer for a dollar sixty. And now, eighty   percent of people chose the $1.80 beer. And then  in phase three of the study they offered three   beers - a super premium beer for three dollars and  forty cents, a standard beer for two dollars and   fifty cents, and a cheap beer for a dollar sixty.  And guess what? Eighty percent of people chose the   $2.50 beer! And so when you try to compete for  the lowest possible price on Etsy, not only are   you losing money per sale, but you're potentially  hurting your sales too. People are skeptical of   the lowest price product, but they also don't want  to be ripped off by the highest priced product,   which is why most people will want to purchase  a product that's priced somewhere in the middle.   Six: I showed my products being used by a real  person. So here is the thing, in addition to   Etsy wanting to see that people are interested in  clicking on your item, they also do want to see   that some of those people are going to go on to  buy it. Again it's like dominoes. You get one sale   and Etsy goes oh, people like this, and they start  showing it to more people. And so your sales go up   and you make more money. As a new store you're  obviously at a disadvantage because you don't   have social proof and you don't have reviews yet,  so you need to take advantage of every opportunity   that you have to increase your conversions which  is why I make sure to include lifestyle photos of   my products actually being used by a real person,  because studies have shown that something we all   intuitively know and that is that when we see a  photo of a product being used by a real person,   it makes us far more likely to act actually buy  it. And it's a question I'm actually often asked:   "Sarah, how can I get photos of my products being  used in a lifestyle context? And well, my favorite   app to do this is absolutely Placeit. Placeit has  two different types of accounts, they've got a   paid account and they've got a free account that  gets you access to thousands of photos. You just   upload your design and then Placeit will literally  place it onto a product! Seven: I created my own   luck by being persistent. So as I said earlier,  when you're creating a new Etsy store, there is   definitely some luck involved. Because as I said,  when you create a new listing and it gets test   impressions on say a random person's home page,  you have no control over who Etsy chose to put it   in front of. And so sometimes you just get unlucky  because Etsy puts it in front of the wrong person,   they don't click on it, and then they stop  giving it impressions. And so because of that,   it is especially important to be persistent. Take  for example example that person that added in   just 20 items into this store, got no traction,  and then gave up. Well as I said at the start   of this video, for the first week I didn't get  a sale either. It wasn't until I'd added in my   25th item that I got a sale within my store. And  so just imagine then if this person had also added   another 5 products too. Perhaps it would have  been their 25th product that would have won the   Etsy lottery and been matched with the right  customer, and now like me Etsy's algorithm would   have more data on who the right customer is, they  could then use that to pair their other products   with the right customers, and so that store could  also have potentially become a passive income   source to ready to be scaled up. But of course  we'll never know, but perhaps we would have known,   if they had been persistent! So then did you  learn something new? If so please subscribe.   And if you're interested in learning more about  print on demand be sure to watch my video 10   things to do before you start a print-on-demand  store I'll see you over in the next video
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Channel: Wholesale Ted
Views: 101,757
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Keywords: etsy, print on demand, make money, earn money, new etsy store, etsy traffic, etsy seo, etsy conversions
Id: Phucc1uMllw
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Length: 15min 4sec (904 seconds)
Published: Tue Aug 15 2023
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