Handmade & Beyond Podcast

If you've started an Etsy business of course your main focus is making sales. This is the best way to gauge success. Sales equal winning.

However, winning is usually a lot harder than most sellers realize. It may lead you to believe your products aren't good enough or Etsy doesn't work. What it really comes down to is a combination of factors that you can control and if done correctly can increase your chances of winning.

In today's episode, I want to give you some tips to "win" more often on Etsy.

Get the FREE Etsy Listing Success Checklist below and start creating winning Etsy listings today!

https://www.handmadeandbeyond.com/etsylistingchecklist

As we reflect on Etsy's journey through 2023, two major stories stand out: the release of Etsy's comprehensive year in review for sellers and the recent news of Etsy reducing its workforce by 11%. Let's unpack what these developments mean for Etsy sellers moving forward.

Etsy’s Annual Performance Review: A Seller’s Perspective

Etsy has rolled out its year in review, offering sellers a personalized look at their performance alongside a broader review of the platform's new features and initiatives in 2023. This annual recap is more than just a reflection; it's a tool to help sellers understand their growth and areas for improvement, considering the platform's evolving landscape.

Workforce Reduction: A Tough Call

The announcement of Etsy laying off 225 workers, around 11% of its workforce, right before Christmas, has sparked a mix of reactions. While it’s a tough pill to swallow, especially during the festive season, it's important to understand the context and implications for sellers.

Etsy's Growth and Staffing Dynamics

It's noteworthy that Etsy's workforce doubled since 2019, fueled significantly by the COVID-19 pandemic. However, general merchandise sales have plateaued since 2021, leading to this workforce adjustment. Similar actions were observed at other e-commerce giants like eBay and Amazon earlier this year, signaling a broader industry trend.

Etsy's Financial Health and Seller Impact

Despite the workforce reduction, Etsy remains a robust, profitable entity, consistently surpassing many of its quarterly financial expectations. These changes appear to be strategic moves to conserve costs amidst inflated staffing levels following the pandemic-induced growth spurt.

Should Sellers Be Concerned?

For Etsy sellers, the immediate concern may revolve around whether such changes signal instability or reduced support. However, considering Etsy's profitability and strategic planning, the impact on sellers might be minimal. Large organizations typically have systems to manage such transitions smoothly, although only time will reveal the full impact.

Continued Investment in Seller Initiatives

Encouragingly, Etsy is not stepping back from investing in seller success. With a $50 million investment in seller initiatives in 2022 and a growing buyer base – reaching about 95 million in 2022 – Etsy is showing a commitment to fostering a dynamic, seller-friendly environment.

Looking Ahead: Adaptability and Resilience

As Etsy continues to evolve, sellers need to remain adaptable and resilient. Understanding market trends, leveraging Etsy's seller tools, and staying informed about platform changes are more crucial than ever.

Conclusion

The recent workforce reduction at Etsy, though significant, is part of a broader business strategy common in the e-commerce industry. For Etsy sellers, the focus should remain on leveraging the platform’s resources, adapting to market trends, and continuing to grow their businesses in this dynamic marketplace.

Remember, Etsy's investments and growing buyer base are positive indicators for sellers worldwide. Here's to a resilient and prosperous journey ahead for all Etsy entrepreneurs!

In today's episode, I go over some of the most important key terms related to your business and their meaning.

I'll be talking about:

1 - Visits

2 - Views

3 - Conversion %

4 - Clicks

5 - ROAS

6 - YOY

7 - Traffic

8 - Revenue

9 - Profit

10 - SEO

Are you new or just opened an Etsy shop? Get my free PDF download Etsy Quickstart Guide. The perfect guide for those looking to start or who just started an Etsy shop to ensure they’re set up for success. Get it here www.handmadeandbeyond.com/quickstart

Etsy's Monthly Fees: Panic or Progress? Let's Unpack the Buzz!

The word on the street (or should we say, the buzz in the craft room) is that monthly fees may be making their grand entrance to Etsy soon. And just like that, it feels like we're about to "unleash the hounds!" Now, let's be real - the mere mention of fee increases on Etsy can send sellers into a frenzy that rivals the chaos of a dropped stitch in a knitting project.

Remember the uproar when Etsy nudged their transaction fee up to 6.5%? It was as if the crafting world had been asked to sacrifice their beloved glue guns and yarn stashes. But, as a fellow Etsy seller and small business owner, I understand the gut reaction. The thought of parting with more of our hard-earned cash can sting.

So, why the speculation about monthly fees? It seems Etsy has been sending out feelers through surveys to a slice of the seller community, stirring the pot of curiosity and concern.

What we know is still shrouded in a bit of mystery. The speculation is that this could mirror eBay's store monthly fees system, offering an optional subscription that could unlock a treasure trove of perks, including listing fee discounts and more. As someone who has navigated the eBay waters, I can attest to the savings that these kinds of subscriptions can offer, particularly for those of us who are prolific listers or high-volume sellers.

The rumored benefits of this subscription model could include:

• Reduced listing fees
• Lower transaction fees
• Ad credits to boost your shop's visibility
• Access to exclusive discounts and perks
• Enhanced shop customization and promotional tools

For those who might not be in the know, Etsy already dabbles in subscription services with Etsy Plus. For a modest $10 a month, sellers get ad credits, shop customization options, listing credits, and more. It's been a hot topic of discussion, with whispers of a revamp that could potentially be the shape of things to come.

Before we sharpen our pitchforks or start hoarding craft supplies in protest, let's take a moment. Change, while daunting, isn't inherently bad. Etsy Plus, for instance, offers tangible benefits that, for many, outweigh its cost. If Etsy is indeed planning to expand on this concept, it could mean even more value for sellers willing to invest a little in their shop's growth.

It's natural to bristle at change, especially when it hits our wallets. However, maintaining a positive, open-minded approach is crucial. After all, the only constant in business (and life) is change. By focusing on what we can control and adapting to the evolving landscape, we position ourselves for success, regardless of what new policies come our way.

So, fellow creators and entrepreneurs, let's watch this space with cautious optimism. Changes may be coming, but so are opportunities. And remember, no matter what Etsy throws our way, the creativity, resilience, and spirit of our community will see us through.

And hey, while we're navigating these changes, don't forget to arm yourself with knowledge. Dive into the world of Etsy SEO with my free guide, packed with tips and tricks to drive traffic and sales to your shop. Check it out at Handmade and Beyond. Here's to not just surviving but thriving on Etsy, no matter what the future holds!

Episode Title: Turning Silence into Sales: A Deep Dive into Reviving Your Etsy Listings

Introduction: Welcome to today’s episode, where we tackle a common yet frustrating experience for Etsy sellers - launching a listing full of hope, only to be met with silence. It’s a scenario many of us have faced, but today, we’re here to change that. We'll explore the reasons behind your listings' lack of performance and share a proven formula for success. This is an episode filled with insights and actionable advice that you won’t want to miss.

Today’s Focus: Selling on platforms like Etsy is no small feat. It requires not just perseverance but a strategic approach to learning and adaptation. In this episode, we dive into the critical difference between successful sellers and those struggling to make a mark: the commitment to understanding the marketplace and making informed decisions.

Key Discussion Points:

• Analyzing Listing Stats: We start by emphasizing the importance of listing stats as a treasure trove of insights. Discover how to access these stats and why they are crucial in understanding your listing's performance.
• The Listing Success Formula (LSF): Unveil our special formula designed to guide you through reviving your listings. We discuss how to interpret different scenarios based on your listing’s age and the number of visits, providing tailored strategies for each.
  • Scenario 1: Focus on SEO and product images for listings with 0-25 visits.
  • Scenario 2: The importance of patience for listings with 40-75 visits, and when to consider making changes.
  • Scenario 3: Adjusting pricing, description, and targeting for listings with 100+ visits.
• Strategic Patience and Adjustments: Learn why waiting is sometimes the best strategy and how to effectively gauge the impact of any changes you make.
• Key Considerations for Etsy Sellers: Additional tips on understanding your niche, the importance of not hastily deleting listings, and how to analyze and leverage traffic source data for better performance.

Conclusion: The journey to Etsy success is not about quick fixes but understanding, patience, and strategic adjustments. By applying the insights and strategies discussed today, you’re well on your way to transforming those silent listings into successful sales.

Call to Action: Don’t forget to subscribe to our podcast for more invaluable insights and strategies tailored for Etsy sellers. Whether you're looking to refine your approach or seeking inspiration, we're here to guide you through the complexities of online selling.

Resources Mentioned:

• Visit www.handmadeandbeyond.com/etsyseosuccess for a deep dive into SEO and how it can transform your Etsy business.

Thank you for joining us in this episode. Stay tuned for more tips, tricks, and strategies to help you achieve your Etsy selling goals. Let’s turn those challenges into opportunities and silence into success.