What’s up bosses? Welcome back to my channel. So today we’re talking about the four ways you can increase your Etsy revenue, and we’re talking about this today, because most Etsy sellers tell me that their biggest struggle is increasing traffic and sales and what they’Re really saying is they want to increase their revenue so in this video I’m gonna talk about that, but before we get into it, I want to tell you guys that I am creating a program that’s actually going To help you increase traffic and sales using a proven, step-by-step process, I brought my clients through this and they’ve, gotten total transformations and great results.
So if you’re interested in this program, I want you to go down to the description box or the pin comment on this video and click on the link and sign up for the wait list and when it becomes available, I’Ll be able to tell you more about it, but if you’re interested in growing your Etsy business and you’re serious about it, then click on the link below and sign up for the wait list.
Okay without further ado, let’s, get into the video okay, so I either here I need to increase sales or I need to increase traffic. But the first thing we’re going to talk about is increasing our conversion rate.
So your conversion rate is the number of visits that actually convert into a purchase, and you can check out your conversion rate by going to the stats section on your Etsy profile and a healthy conversion rate is anywhere from two to three percent.
Of course, higher is always better, but if your conversion rate is lower than 3 %, then we definitely want to work on some things in your listing and the reason why we’re going to talk about your conversion rate.
First is because if you’re increasing traffic, without optimizing your listing for conversions, then you’re, basically just driving traffic to a listing that people don’t necessarily want yet. So they’re, just gonna bounce off and go to your competitor.
Now, of course, really targeted. Longtail keywords will help you with your conversion rate, because if you’re really broad, then you’re, most likely just getting browsers or you’re, not getting any traffic at all, because the search quantity of those broad search Terms are just oversaturated, so of course we want the longtail keywords, but let’s say your SEO is awesome.
It’s super relevant to what you sell and someone lands on your listing. There are gonna be a few things that they’re asking themselves number one is. Can I trust this item so that’s? Why a lot of people tell you to make sure that your photos are professional and that you have a lot of them? It’s because it’s, basically, building that trust between the potential customer and your listing.
Their photos are really telling them. Is this going to be a quality product, because typically, your brand just seems more reliable and professional? When you have good photos, another question they’re thinking of is, is this for me, so I know I talk a lot about reaching down and your target audience, and this will really play a big part when your target audience lands on your shop.
They’re, going to be looking around and asking themselves is this shop for me? So does your listing description speak to them? Does your about Me section inspire them? Is your shop cohesive? Are there multiple things that they can see themselves purchasing that’s? Why? I always suggest Meecham down and figuring out who your target audience is because it’s really gonna help that conversion rate, when someone feels like your shop is for them.
Another thing they might be asking themselves is: do I know what I’m receiving, and I see this kind of a lot, but either your listing descriptions or super confusing or you have too many variations or it’s, just not clear What you’re, getting in your photos, so if you confuse them, you’ll lose them so just make sure that it’s super clear with what your customer is getting that way.
It makes it easier for them to convert if you’re, getting a decent amount of messages, asking for further clarification. That’s. A really good sign that you need to take that question and include the answer in your listing description or as a graphic in one of your listing photos because think about all those other potential buyers that just left your shop and went to a competitor.
That was more clear about what they offer instead of messaging. You so just make sure your listing is very clear and it’s, not overwhelming. Another thing they might be thinking is: is this a fair price? Am I getting a good deal now? I’m, the last person to tell you to lower your price to be competitive, but if you’re, offering something extremely similar to the next person and there’s, really nothing that stands out about your product.
You need to make sure that you’re, not charging an outrageous price, because the customer will just leave what is the benefit of them actually purchasing from you if they can get something very similar from someone else at a much lower price.
So if there is something super special about your product and that’s, why the prices are higher, then just make sure that’s clear and you should be okay. So let’s. Talk about driving traffic! Now let’s say your conversion rate is two to three percent and you’re happy with the sales that you’re making.
But now you want to make more sales. So let’s drive traffic because once your conversion rate is pretty healthy, then sales just becomes a little bit of a numbers game, so driving traffic will definitely help you increase that revenue.
So, of course, awesome SEO with relevant terms using longtail keywords will definitely increase your search ability on etsy. But if we’re thinking long term, we’re thinking real brand growing our business, then we also want to think of external traffic.
I have a video all about driving traffic with Pinterest. I have a video about content marketing and I have a video about choosing the social media platforms that are best for your business, but I thought it would be really cool to dive into my stats to show you guys how I drive traffic to my shop.
So here we are on my stats page and, as you can see, 44 % of my visits have come from Etsy and then I drove 56 % of the visits myself through external traffic. So I really think it’s important to diversify, where your traffic is coming from in order to have consistent sales at sea, because we can just rely on Etsy search.
If we want that consistency, because we never really know when they ‘ Re gonna have an algorithm change or when they’re gonna switch things up. So I really do think that it’s important to have. You know really good keywords for your internal traffic, but also really good external traffic as well.
So let’s. Take a look at some of my stats, so I brought in 56 % of my visits like I said so. We can see that Pinterest brought in over 4,000 views this year, Instagram brought in 112 views Facebook only brought in 12, but yeah.
So a lot of my social media traffic is really coming from Pinterest and the really cool thing about Pinterest is – and I have a video about Pinterest. But the really cool thing is because I’m, not really consistent with it.
So the traffic is just automated at this point, so that’s, really cool, and I suggest everyone gets on Pinterest for the Etsy shop. Then, if we look at direct and other traffic, that’s, bringing in the most of the external traffic and the majority of that is through my youtube channel, so 2,700 visits this year from my YouTube channel, because I linked my shop and I linked My best-selling listing in my all my YouTube descriptions and then 831 visits came from my website and people might be finding my website through Pinterest.
Actually, because I have pins that link to my website and then when they’re on my website. They might click shop and when they click on shop, it brings them to my Etsy shop. So that could be how they’re, finding my shop from my website and just to take a look at how Etsy has brought visits to me.
So I see search is actually pretty low because my product is really niche. Not a lot of people sell these small business thank-you cards and not a lot of people are really searching for them. So this is really only 13 % of my visits come from my FeO and my SEO is optimized and it’s really good, but this is just a really nice product, so this is something we’re actually would need to use External traffic to drive traffic, but if we look at some other ways that Etsy is helping me drive traffic, so the majority of the Etsy traffic is coming from Etsy, app and other Etsy pages.
So basically, when someone is on a different listing, they might see my listing suggested on the bottom and they’re clicking on my listing because they see it on the bottom and it’s being suggested or it’s.
On their homepage, or these people have come across my listing and they favorite it and then they go into their favorites and then they’re clicking on it and deciding to purchase it later on in the future.
So yeah that is the Etsy app and other Etsy pages, but I think the biggest takeaway that I want you guys to think about. While I’m talking about driving traffic, is you really do want that split? You want your email marketing.
You want! Your social media marketing I don’t really talk about advertising too much, but, as you can see, I do a little bit of advertising, but it’s really just to test things. I just like to to test things, but I don’t do too much.
I think my budget right now is like a dollar a day, so it’s. Like thirty dollars a month max yeah see you want a 50/50 split for the most part. Okay, let’s, get back into the video now. The third way that you can increase your revenue that you might have not thought about yet is actually increasing.
Your average price per order, so if we go to our stats section again and we filter for let’s, say the past 60 days and we take the revenue that we made and we divide it by the amount of orders we made.
We can see how much we made per order on average. So if we increase that number, then we would be making more money in our business, so you might be wondering okay. How do I do that? Well, I’m gonna show you an example using my value ladder and if you don’t know what a value ladder is.
It’s, basically a visual representation of how your offers increase in value and in price. As you grow your business and as your customer goes up through your value ladder, of course not all customers will buy each and every offer, but the idea of having a value ladder is some people will buy the most expensive item.
Some people will buy the most inexpensive item or some people will meet in the middle, so it’s. Basically, the more you fill up the value ladder, the more opportunity you have to make a sale, but remember more for everyone that is in your target audience not more for everyone in general.
So we always want to remember that we’re building. Our value letter based on our target audience so here’s, an example of my value ladder. So I have my free content and my free traffic that I get from Etsy, so my content drives people to my Etsy shop and Etsy drives traffic.
To my Etsy shop, that’s kind of like the gateway and then they can choose to purchase my thank-you card. So they like my thank-you card. They’re, engaging with my brand, and maybe they’re ready to grow their traffic in sales, so they invest in a seat in my digital course that helps them grow traffic in sales.
Let’s say there is someone who really wants to get the best results and wants me to hold their hand to the process. Then I have my one-on-one coaching and, as we go up this value ladder, the value of the purchase increases and so does the price.
Now I’m gonna use an example of my client Laura, who only sells on Etsy, since my value ladder, kind of leaves Etsy so Laura. She sells abstract printable wall art and, as I was working with her, she decided that she wanted to do sets of three.
So she bundled her art pieces and now she’s, making more money per order when people purchased the sets of three. Because of course, they’re more expensive, so there’s, an increase in value, so there is an increase in price.
Now she is getting her best selling prints printed on tapestries, and these are priced even higher. So her profit margin is higher, so that is how you could increase your average price for order so start thinking about how you can grow your value ladder based on your niche okay.
So the fourth way that you can increase your Etsy shop revenue is by increasing the percentage of repeat customers. Now this thing be like increasing your conversion rate, but I wanted to give it its own separate section, because it is much different than just increasing the conversion rate of a new seller.
So, typically, once a customer buys from you, the relationship changes a little bit, so there are no longer just dabbling, they actually purchase from you and they’re, actually more likely to purchase from you again in the future.
So I’m. Not sure if you heard this before, but a lot of experts in marketing will tell you to really focus on your customers instead of new people, because you’re nine times more likely to convert a already existing customer into a repeat customer, then you Are to grab the attention of new people.
So repeat, customers are super important for our business and how can we increase the percentage of that? Well, we can include, or thank you card, that’s. Why I sell them, but also you can include your social media handles because we want them to start to follow us.
We want it to get on our email list. We want them to be reminded of us if they’re following us on social media, then we can build. That know like trust and also we can increase the amount of touch points.
So maybe they saw us on Etsy they purchased from us now. They’re following us on social media. Now they see us post and they’re constantly being reminded of us, or maybe you’re coming out with a new product, so you email them and voila there.
You are in their inbox and they’re reminded of you, so it’s all about increasing the amount of times they are exposed to you. So if you want more information about what you actually post on social media check out this video right here, if you want to learn more about flywheel marketing check out this video right here, it will really explain how you should actually go about posting content.
That will actually convert now. If you want an in-depth, step-by-step process that will help you do all of these things and clear up all confusion. I want you to click the link down below in the description box and in the comment that’s, pinned to the top of this video and join the wait list for the program.
If you’re serious about your Etsy business, you’re gonna want to join the wait list and if you have any questions at all DME, I am here all the time talking to everyone that talks to me. So, as always guys, thank you so much for watching and I’ll catch you in the next video bye, guys.