Zero to a Star Seller in 1 Month Using Data & AI | ETSY

I am going to create a new store on Etsy from scratch and try to take it from zero to a star seller in less than a month and I plan to make this happen using data and AI hi my name is jorgos and this is the first video for project 1984. the goal of this project is simple turn ten thousand dollars into 10 million dollars using data and artificial intelligence we are going to use data and AI to understand create and invest in the world of business and finance and in the spirit of social entrepreneurship inspired by our favorite Mr peace fifty percent of the profits are going to be shared with the community along the way this means you people worst case scenario you can watch me lose all my money and run this project to the ground which you may or may not find entertaining you seek before we open a ready store we first need to find a product to sell after digging around for the best selling products on Etsy I came across a specific category which I think is ideal for beginners such as myself printables or digital downloads these are digital products that people can buy and simply print at home this means that you can start your store almost instantly with minimal to no expenses you do not have to maintain an inventory and you do not have to ship any physical product it's perfect for passive income and extremely easy to get started with in other words it has a very low barrier of Entry which also means a lot of competition but this does not scare me for a second because you see we have a secret weapon data and AI a simple search for printables on Etsy will return a lot of different products like planners calendars stickers wedding invitation greeting cards but which one should we focus on selling to make an educated decision I wrote a script using etsys developer API that analyze the top 100 products from 25 of the most popular stores in the printables Niche and what I found really surprised me as it turns out there is good money to be made in this Niche like really good money on average these 25 stores made 750 000 dollars from their sales the top selling store made an astounding 4.5 million dollars just for selling printable products which is mind-blowing I also noticed that the top 5 stores with the most Revenue sell their products for an average price of 11 whereas the bottom five stores sell their products for an average price of two dollars which is a significant difference so what's going on here my best guess is that these stores are still at a relatively early stage and are trying to get noticed that's why they try to undercut the competition by having extremely low prices for their product which I believe is something we should be doing for our own products as well at least in the beginning okay so we know there's a lot of money to be made in printables but which products do they sell the most to find out I used my code again to discover the most popular product categories based on the 2500 best-selling products from the stores we analyzed before as it turns out the most popular category in this Niche is calendars and planners so this is where I focused on on the 17th of December I created my store but I still had no products to sell while searching for specific products in the calendars and planners subcategory on Google Trends I discovered that the search for printable calendar usually picked between December 5th and January 3rd which meant I still had time to take advantage of this seasonal interest in calendars so naturally printable calendars are going to be my first products remember that the challenge is to become a star seller in less than a month becoming star seller is very important in my eyes because it will significantly improve The credibility of my store which in turn will help increase my sales in the long term to become a star seller you need at least 95 percent sponsor rate in incoming messages from customers an average review rating of 4.8 stars at least five orders in the last three months and at least 300 dollars in sales in the past three months as well but if I were to become a star seller this quickly I needed a killer product fast I designed a couple of calendar templates in Photoshop but I also wanted to illustrate them to make them stand out from the competition time is of the essence so to illustrate this calendars I use AI tools like stable and disco Fusion my first calendar was all about cats I'm sure there's an abundance of cat lovers on Etsy which made this Choice a no-brainer Etsy suggests having at least 10 products ready before releasing anything on your store and promoting your store but I chose to ignore that advice I got my first product out even before probably setting up my store and that was the right choice but I'll get to that later in the next three days I created my store brand as well as a second calendar with dogs this time now with a decent logo and two cool looking calendars I was feeling ready to take on the entire printable snitch to get my first customized I had to use etsy's advertising program where I spent around 10 dollars per day advertising my two listings which I sold for around two dollars each not a very wise decision but I had to rush to achieve this goal of becoming a star seller quickly on the 21st of December I made my first save finally which was very exciting but after that nothing much happened despite making three more calendars and spending some money on ads I only got on average one sale per day which was very disappointing but like a Christmas miracle on the 25th of December I received a message from someone asking me if there was a Sunday start version of my cut calendar after a quick Google search I discovered that in the USA the norm is to sell calendars that start from Sunday not from Monday which was what I was offering at the time unknowingly I was living out the most popular market for printables so I quickly started adjusting some of my calendars to include a Sunday start version as well and long and we hold in just three days my sales increased by 700 which sounds exciting Until you realize that I simply went from selling one calendar per day to seven calendars per day jokes side if I waited to publish my calendars like Etsy suggested I would have never known about this very crucial detail which would have caused me to miss a lot of seasonal sales at this point I'm halfway there to becoming a star seller my next Target was to get some positive reviews which would also help in increasing my overall sales revenue and achieving the fourth Target as well since I've already made a few sales I've decided to send personalized messages to all my customers to thank them for their purchase ask them if there is a problem with their calendar in which case I would fix it immediately and finally politely ask for a review regarding their purchase surprisingly enough about a third of my customers responded all with a 5 star review which was very exciting news for me and for that I'm incredibly grateful to those people because I know for a fact that these reviews are going to help my store get more sales in the long run [Music] on January 1st I stopped advertising on Etsy to see whether my leases were going to attract any organic traffic to the store and this caused my sales to decrease but I was still getting around two or three sales per day which is good enough for now today is January the 4th and although I still have two weeks to complete the challenge unfortunately I do not think that my sales revenue is going to increase by that much in the next couple of weeks to hit the fourth Target because my products are calendars which are seasonal products so I expect the sales for calendars to decrease dramatically over the next week also I just discovered that in order for us to receive the star seller but 90 days need to pass from the date we have made our first sale which is a bummer if you ask me nevertheless I think this experiment has been extremely successful in just two weeks we went from nothing to having a store with 44 sales 12 5 Star reviews 10 followers and 94 dollars in revenue and we are this close to becoming a star seller as well I believe that the hardest step is behind us because we now have a store with some sales and some credibility with only 5 Star reviews which is something that is going to make our lives a lot easier in the future when it comes to selling new products so the next step is to turn this store into a sustainable and profitable business in the future I will continue using data to illuminate this market and make more educated decisions when it comes to my store I will also further incorporate AI tools into my store processing the entire business I'm trying to build alright so we have our first entry to the portfolio of hustles foreign we are going to be adding all the side hustles and potential businesses we experiment with that are part of this Grandeur project that we are on which has the main goal of turning ten thousand dollars into 10 million dollars using data science and artificial intelligence I'll also keep you updated regarding the balance of this project with every new video I make if you are interested in following this journey and being part of this ambitious project just hit like on this video And subscribe to stay updated and stay part of the community because it's going to be something you want to be part of in the near future trust me alright so that's all for today I'll see you when I see you and okay bye

Channel: Giorgos D.

Views: 104,377

Keywords: etsy, digital downloads, printables, ecommerce, machine learning finance, ai business, data ecommerce, star seller etsy, etsy store, ecommerce trend

Id: mEaIrzLWy1E

Length: 10min 17sec (617 seconds)

Published: Thu Jan 12 2023