Marketing remains a key component of operating a small business successfully. Even if the products you offer for sale are of the highest quality in the market, but no one has ever heard about them, you will most likely record meager sales on such products. Powerful marketing will help solve this problem by creating awareness of your brand and establishing a strong reputation. Consequently, this will enable buyers to discover your items and help build buyers’ trust and confidence that will result in more sales and opportunities. Today’s write-up will focus on 7 effective marketing strategies for Etsy Store.
1. Develop Savvy Market Research Methods
Conducting market research should be incorporated into your routine tasks in running your business as this will let you glean necessary insights to reach informed and strategic decisions about your enterprise, marketing as well as products. Some common ways of collecting data directly from your target buyers, called primary market research, are, analyzing data from your stats and social media pages, scurrying customer reviews, carrying out focus groups and surveys, and examining customers’ online and offline behavior. You can also study reports and analysis done by trade organizations or government agencies, focusing on trends and shopping behavior. This is termed secondary market research. For instance, Nielsen, a think-tank, has conducted extensive studies and reports on consumer purchasing habits in over 95 countries.
2. Keep an Eye on Items That Sell and Those That Don’t
Watch what inventory is moving quickly through your store, and try to look into the reasons it is selling at a faster rate. Examine your search terms log on the “Traffic” tab of your Stats for determining which high performers bring the greatest traffic to your store, and contemplate about how you can develop a more powerful product line, based on those best sellers. Think about what type of audience is drawn to the items, and why some other kinds of listings might not be getting such huge attention. Are you making use of demographic-specific keywords in a specific listing or highlighting a prospective gift recipient, but not doing the same in the other? Things like search terms, relevant trends, and budget are all different among various types of shoppers. If you discover that a particular product is not connecting with a target audience, try to reposition it with varied language in a bid to enhance visibility. Study the Customers tab of your Stats to learn more about the types of products your buyers shop for on Etsy, whether they shop via their laptop or mobile device, and their locations around the world.
3. Get Info from Buyers’ Questions and Habits
Pay keen attention to those details shared by your customers through email and social media as this strategy can help you stay informed and updated about your buyers’ behavior. Do you receive a large volume of custom orders for a particular type of products, or get ongoing requests for rush shipping when a specific holiday is fast approaching? Do customers repeatedly request the same information from your shop? Take into consideration how each time you interact with your shoppers can be helpful in getting to understand the unique needs of your target audience better. Then, design a customer persona using those common traits. You may also adopt a more proactive approach by giving them additional product variations or services, such as gift wrapping or personalization, and determining shoppers’ demand for the offerings. About personalization, you can try labeling your handmade products, arts or crafts before placing them on your Etsy store.
4. Word-of-Mouth Is Very Effective
If you can impress your buyers, make them feel excited about the products you are offering, and ensure your customer service is amazing, one way these will benefit your small business is that such buyers will speak favorably about your Etsy store among friends, family members, and colleagues. Furthermore, if you can achieve customer loyalty, they could also give a positive endorsement to these people about your shop as well as products.
An even greater benefit is that some of those loyal shoppers could elect to share information about your shop on their social media accounts, which could instantly get across to a wider audience. Whenever you get complimentary emails or calls from customers, ensure that you send them a thank-you message immediately and politely request a favorable review on Etsy, and ask that they spread the word via social media. Positive word-of-mouth for your shop is a powerful endorsement, which could be more effective than any advertisement campaign you create.
5. Keep an Eye on What Buyers Are Saying in Reviews
This strategy is closely related to the preceding one. You should urge your customers to give feedback with a short note in the Message to Buyers option of the confirmation email of their Etsy order. This practice will help give confidence to new visitors to trust what you offer on your shop and will also help you get more information on the use-cases and expectations of buyers. Focus on whether customers are happy with your product quality; on if they state that they are purchasing your products for themselves or as a gift. You may consider researching reviews for similar products or categories on the Internet to get ideas on how to perform better than your competitors.
6. Put More in-Person Efforts
Any time you flaunt your wares face-to-face at pop-up sales or craft fairs, note those things that capture customers’ interest. What sort of questions are they asking? How do they regard the purpose and value of your products? When you’re a basically online business, in-person interactions offer you a rare opportunity to really put a face to the abstract description of your target audience. The people that your items will find acceptance with the most might come off as a surprise to you.
7. Pay Attention to Getting Repeat Sales from Existing Customers
If you take into consideration how much time, effort, and money are required to drive traffic to your store, you will see that generating repeat sales from already satisfied buyers is a lot easier and needs far less effort. Maintaining communication and establishing a favorable relationship with customers is among the most straightforward ways of generating repeat businesses. You can try to adopt the following approaches to make sure that you receive repeat sales:
- Give a discount on repeat orders only for returning buyers.
- Offer a reward to customers for every dollar they spend on purchasing items from your shop. For instance, for every $100 they spend, they receive a gift card automatically, which is worth $10 or $20.
- You can consider publishing a blog and promoting special sales or discounts on it, targeted at existing customers.
- Try to urge customers to sign-up for a weekly, bi-weekly or monthly email, which will provide for them special discounts, promotions and other valuable information. For instance, you can send how-to info on your products, along with exclusive previews of new products or items that will soon be released
- Interact with and provide information for your buyers through your social media handles and create awareness for online-only specials, targeting friends and followers on your social media accounts.
- Put together a birthday club, which entitles returning customers to get a special discount on their birthday month or within 7 days of their birthday celebration
- Create a referral promotion, enabling returning customer receives a discount every time someone they refer orders an item in your shop, and simultaneously, giving new customers an opportunity to get a discount also for being a new (referred) buyer.
- Give your existing customers the chance to place an order on new items that are featured in your shop in advance before the general public is aware.
- Produce and distribute coupon codes within your existing buyers (or prospective ones), offering a percentage discount off the next order they will place, in addition to free shipping or a savings of a fixed amount in dollars.
- Earning and then showing off positive ratings & reviews from those buyers you had in the past is an effective tool that can be helpful in converting visitors to your Etsy store into paying customers. As you will soon discover, positive ratings and reviews provide for your small business quick credibility. Also, such reviews enable your future customers to get firsthand experience about the past customers’ perception of your business.
- Just as excellent reviews are great for business, conversely, earning poor ratings and reviews can produce disastrous effects for your shop. You should never under-estimate the import of the ratings and review system on Etsy as you contemplate about strategies you can deploy in running your business and, ultimately, relating with customers.
Using these tips will help you turn one-time buyers into repeat customers as repeat business is crucial to business success.
In a Nutshell
Developing powerful market research methods, determining the reasons that some items sell fast while others don’t, and studying what buyers say in their reviews and ratings are some of the strategies you can adopt for effective marketing of your Etsy shop. Also, note that word-of-mouth and reviews and ratings are also of great import to enable you achieve online business success.