Building Your Brand Etsy Praxis Sales Project

Maximizing Revenue on Etsy

Now that you planted the seeds of your Etsy Shop, it is time to grow. You can also apply these tactics to other eCommerce businesses; simply adjust them to your niche. Here are some tactics I’ve found through trial and error and my own research:

 Customer Retention Tactics

Maintaining customer retention is integral for meeting your bottom line. Here are some tactics to earn repeat customers:

  1. Communication – Respond to questions and feedback, and kindly to any problems your customers may have within 24 hours. This is key to build trust with potential customers and building repeat business. Also, always follow-up the arrival of their product with an email to ensure satisfaction. This is a good time to ask them to review your product. Great customer service isn’t always easy, but it is key to a your business’s lasting success.
  2. Timely shipping and personal touches – I like to add a handwritten thank you note and sometimes include a small crystal with their order; hand-written notes are a quick way to go that extra mile for your customer.

3. Follow-up Within the first month of purchase, email them a coupon code to your shop. Coupons are a great way to build customer loyalty. You can offer free shipping, percentage off their next order, or a free item.

Up-Selling Tactics

  1. Suggestions and Bundling – Customers search with keywords on Etsy. When they search, all shops with items matching that agenda show up. They may look look at the item, but in order to get customer’s to explore the rest of your shop, put links to your other products in that collection, or matching pieces. Click the images to see the examples below:

JewelsFromMars
etsy hop 6
etsy shop 7

2. Freebies – Many savvy shoppers will add additional items to their shopping cart to receive something for free; especially free shipping. The question is how to affordably offer free shipping and balance the expense? First, factor the shipping into your expenses. Next, find a reasonable dollar amount that brings you more profit without taking a hit. Although, taking a short-term loss is a smart sacrifice if it brings loyal customers. Just make sure to follow up with customer-retention tactics!

0 comments on “Maximizing Revenue on Etsy

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: