THIS is how I made $1,570,000 selling on Etsy 🚀 (Simple tips for SUCCESS)

what was the secret to making $1.5 million in revenue on Etsy when people hear about my story they Wonder was she just lucky was it timing was it a specific product it's much easier to assume that it might have just been luck I was lucky to get my first sale yes that was luck because I you know just half-hazard threw one listing up it was something I had made for my wedding threw it up on Etsy thinking you know nothing to lose here and thank God someone actually bought it I think it had about one photo I don't even know what the description was maybe a couple sentences so I was very lucky that someone actually bought it but getting to 10K per month by my fourth month on Etsy that was pure strategy and in the theme of this video I would love for you to leave a comment below with your favorite Etsy growth strategy that has helped you the most I think it would be really interesting and helpful for everyone watching this video to collaborate and see what's worked for each other but in this video I'm going to give you my four big secrets to growth that got me to over $1.5 million in Revenue in my my shop I'll tell you what it was not it was not landing on the perfect Niche it was not going viral on Tik Tok and it was absolutely not paying for ads and lastly it was not paying for tools like everb or sales samurai or marmalade it was attacking the Etsy business in the same exact way that I attacked the street Footwear business when I worked for zaposlite e-commerce right I was a buyer for Zappos I started out in Footwear Converse Puma Etc I applied the exact same principles that I learned from my days ad Zappos to Etsy and surprise they worked so what exactly were these strategies and how do you apply them to your shop right now number one which is probably going to make you rethink everything you might have done on Etsy is that I chose a customer not a niche premium customers who were definitely going to spend on a specific event or occasion for me I targeted wedding and Nursery customers and the people I sold to often times had their wedding wedding planner purchasing from me or had their interior designer purchasing from me that is the caliber of these customers so these types of customers thought nothing of spending $11,000 on a small decoration for their table at the reception they thought nothing of spending $600 on an item to reveal their baby's name at a newborn photo shoot so I focused on people who had higher discretionary income and very consistent spending habits whether or not you know the box of cereal went up to $5 a box at the grocery store they were still going to be buying these expensive pieces for these events and occasions so how do you apply this to your shop right now think about people who have really consistent spending habits who continues to keep their kids in the expensive activities who continues to shop at Nordstrom who continues to get groceries delivered from Whole Foods who has job security who is smart with their money and who has higher discretionary income now think about what expensive brands do they shop with what are they already spending a lot of money on and what is the aesthetic of that the key here which is what most people Miss is that you're looking for what these people like and buy that's not on Etsy so we're not looking to Etsy to see what these people might want instead you're going to go directly to the customer and look at okay who is this person influenced by what aesthetic are they drawn to where are they shopping everb is not involved surprise surprise number two which is something I know you're definitely not hearing on YouTube is to focus on the Blended margin and what this did was it led me to develop a very Dynamic product mix which all of my students know as the seven types of products to have in your shop so this is the framework we use to have different listings with different purposes and the idea is that it's going to drive up your order number and your Revenue at the same time so at zapo this played out both on the Brand level and the portfolio level with a brand you'll have different styles that have different purposes you're going to have different price points within that Brand's assortment and then within the portfolio you'll have different brands that have different purposes some products are loss leaders some products are Revenue drivers and it's really a balance of how to get the most gross margin dollars out of your business without missing opportunity cash flow was King that means your gross margin dollars your profit it's the same thing with Etsy same exact principles we want to have a dynamic product mix where we focus on the overall profit of your portfolio of listings you don't want to have a shop filled with mugs that are $14.99 or a shop filled with t-shirts that are $22.99 and you don't want to have all digital wall art that's $6.99 you need a dynamic product mix with a range of margins and purposes within your listings so some of your listings their only purpose is to drive up your order number we call that a loss leader that is one of the seven types of products other listings their purpose is really to scale your Revenue but you need to look at your shop like a portfolio where you just look at the roll up of the Blended margin all right the third thing I did with my shop to get it to $1.5 million in Revenue was to pull levers strategically now people think oh that sounds smart but what does that actually mean growing a business requires risk calculated risk if you want to see massive results you have to take Massive Action in my business I took risks where necessary those were primarily with inventory with equipment and with labor so when I maxed out the business with what I could do on my own with my current materials and tools I had to add a layer of risk to get us to that next level and that's the only way to raise the earning potential of your business there's always some risk involved and this is one of the things that I love helping students with we actually have a special 10K Revenue group where you have to be doing at least 10K per month and there's really interesting levers to pull in your business at this stage and oftentimes you know if it's your first time having 10K months these levers feel like huge risks and maybe you're pulling those for the first time whether that be risks with inventory planning and forecasting that risks with hiring right hiring your first assistants or employees maybe risks with Partnerships or investing in equipment that will raise your earning potential but it's amazing what happens when you take take the risk to pull some levers that will deconstruyendo really helped me not just get to 1.5 million in Revenue but the million dollars in profit if I was doing ads that million dollars in profit would likely be closer to like 500,000 not ideal so there's two options you can learn how to create optimized listings that are high converting and learn how to drive traffic with Organic methods for free but then the alternative that I see a lot of people choose is that they don't care to learn how to optimize their listings so that they're high converting and then they would rather just pay for ads to drive traffic to those listings to me it's like lighting your money on fire the thing is traffic will be a constant need for the business that need of the business could either be free or you could establish that as a standard cost you know it's almost like a fixed cost to get any traffic you know you have to pay for it in order to see any results and when you do that if the listings aren't optimized the results you see are marginal anyways your SEO sucks and if your listings are not optimized I would not be paying for any traffic to to that listing until you fix those things all right the second part of organic growth is the social media part right and that is free so why wouldn't you use it as your followers grow and as your customer base grows your traffic will also grow with a compounding effect if you're willing to learn how to drive organic traffic you are going to keep way more of what you make if you want to learn how to apply these principles to your Etsy business leave a comment below and I'll reach out to you and if you want to see more videos like this please subscribe and then I'll see you guys in the next one after I join the program I gained so much Clarity Dylan is a wealth of knowledge and she shares all of her secrets with you that coaching aspect of it you can't get that through reading or watching videos so that's what makes this program really unique

Channel: Dylan Jahraus

Views: 11,458

Keywords: etsy seller, new etsy seller, etsy seller tips, etsy hacks, how to make sales on etsy, how to sell on etsy, make money on etsy, etsy tips 2023, etsy niches 2023, best etsy niches, etsy beginner tips, best side hustles 2024, best etsy side hustle, sell on shopify 2023, etsy results 1 month, best products etsy, best side hustles in 2024, best etsy secrets, etsy shop for beginners, how to make money on etsy, make $10k per month, make $10k on etsy, how to get rich on etsy

Id: ApeIX2TRgWk

Length: 8min 17sec (497 seconds)

Published: Thu Dec 28 2023