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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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Are you an Etsy shop owner who often finds yourself thinking, “I just need to come up with some new products to grow our revenue”? If so, this blog post is for you!
Today, I want to delve into a common misconception among Etsy sellers—the belief that launching new products is the key to scaling their businesses. I’ll explain why this knee-jerk reaction may not be the most effective way to foster growth and offer insights into a simpler path to rapid scaling.
But before we dive in, if you’re new here, don’t forget to subscribe for more valuable insights and tips to enhance your Etsy journey. I am one of Etsy’s top sellers, generating over 1 million dollars in profit in my shop!
As someone who interacts with Etsy sellers daily, I often hear about their shop challenges and their plans to boost their businesses. One significant misstep I’ve noticed in their scaling strategies is the emphasis on extracting more revenue from slow-selling items and continuously adding new listings. However, I believe this approach is fundamentally flawed because it overlooks what I like to call “the low-hanging fruit.”
Through my experience helping countless Etsy sellers scale their businesses, I’ve discovered that the most significant results and revenue impact usually come from doing more of what’s already working—and doing it better, bigger, and differently. But why does this approach work? It’s because pulling the levers that already have a high velocity of sales leads to faster and exponentially larger results.
Let’s break it down with a couple of examples:
Another example involves offering multiple sizes of a popular product. If you currently sell 10 of these items daily, adding three more size options might attract 5-10 additional customers daily who prefer different sizes. This approach is vastly different from attempting to add more sizes to a listing that isn’t selling, as the latter is unlikely to make the product suddenly desirable.
In essence, it’s like coaching a basketball team for a state championship. You must coach and train your star players, not the benchwarmers. That’s how you build a winning team.
Now, let’s focus on what you can do with your best-selling listings:
Many Etsy sellers put a lot of effort into creating best-selling listings but then leave them untouched. It’s crucial to remove any friction from the purchase process, ensuring that customers can easily buy these products. Take a critical look at your listings to identify any obstacles, and reach out if you suspect issues with purchasing. Additionally, continue improving your listing’s descriptions, photos, and videos to enhance their conversion rates.
Rather than copying the SEO of your best-selling listing onto others, explore ways to create different versions of your best sellers to target various profitable customer segments through SEO. This strategy involves:
By focusing more of your time and effort on your best-selling products and resisting the urge to divert your attention to underperforming items, you’ll likely experience significantly greater results. Remember, the ultimate goal is not just to get everyone to a certain threshold but to raise the ceiling as high as possible.
In conclusion, while launching new products has its place in growing your Etsy shop, concentrating on your best sellers and optimizing their performance can lead to exponential growth. So, remember to leverage what’s already working and make the most of your low-hanging fruit to achieve outstanding results in your Etsy business.
If you’re ready to take your Etsy shop to the next level, focus on what’s already driving success, and watch your business flourish. Learn strategies like this and more with my Multi-Six Figure Etsy Blueprint Program.