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how to grow on etsy
starting an etsy shop
I am Dylan, a multi-six figure Etsy & Shopify seller. My Etsy shop ranks in the 0.1% of Etsy shops worldwide and we reached $1M+ in sales in just 5 years.
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Embarking on a venture that evolved into a million-dollar Etsy empire is a dream for many. In this exclusive guide, we’ll delve into the remarkable journey of turning a humble Etsy shop into a thriving business that grossed over $1 million. Learn the strategic steps, tips, and insights that propelled this success story, and discover how you too can make your Etsy shop a flourishing enterprise.
The journey began with crafting floral letters for weddings and nurseries. Understanding the value of target customers—Moms and Brides—proved crucial. The lesson: choose your customer before you choose your product.
Research played a pivotal role. By searching terms like “floral wedding” and “floral nursery” on Etsy, the entrepreneur identified top-selling items in these categories. The key was to expand organically, creating complimentary items like baby mobiles using existing supplies.
Achieving over 80% profit margins involved embracing customization. Whether adding names or offering color options, customization proved immensely valuable on Etsy, allowing premium pricing.
The willingness to accept every customer request facilitated expansion into new products and categories. This strategy enabled venturing into uncharted territories without upfront costs, as customers essentially funded experimentation. This is also a great way to create a power listing that can transform your shop!
Photography became a cornerstone. Even with a limited range of products, each item was photographed and listed separately. Exceptional photos, such as those of a $98,000 top-selling item, became instrumental in driving sales.
Despite having similar items, targeting different customers and search terms with each listing became a winning strategy. For example, a custom last name sign could cater to various occasions, ensuring a broader audience.
At least half of the listings targeted the gift category. Diversifying the offerings—gifts for her, him, mom, daughter, teacher, nurse, graduation, homecoming, and back to school—widened the customer base.
Products that were highly photographed and suitable for social media usage were emphasized. Items like baby milestone cards, birthday party decor, and wedding decor became popular for photo shoots, with customers often allowing the use of their photos in listings.
Opting for made-to-order items instead of carrying finished inventory ensured a healthy cash flow. This strategy, combined with a focus on turn and sell-through rates, contributed to overall financial health.
The final key to success was not solely relying on Etsy’s search algorithms. Collaborating with bloggers, engaging in Facebook group promotions, active posting on Instagram, and leveraging the power of Pinterest, with an impressive 900,000 views monthly, contributed significantly to driving external traffic.