Exceeding Sales Goal on Etsy despite Limited Dedication | Etsy Success Tips
Table of Contents
- Introduction
- Month Five on Etsy
- Traveling and Real Estate Projects
- Limited Time Dedication to Etsy
- Impact on Sales and Momentum
- Revenue Goals and Achievements
- Etsy Dashboard Overview
- Concerns about Sales Performance
- Conversion Rate and Traffic Sources
- The Role of Pinterest
- Evaluating Advertising Strategy
- Gross Revenue and Expenses
- Net Profit Comparison
- Importance of Consistent Listing
- Offering Free Etsy Listings
Month Five on Etsy: Limited Time Dedication and its Impact on Sales and Momentum
Introduction
Welcome to my channel! If you're new here, I'm Shea, a beginner in the world of Etsy. My journey began in January of this year, and I document my sales progress each month while sharing strategies for success as a complete beginner on Etsy. In this video, I will be discussing my fifth month on Etsy, which was May. Despite dedicating very little time to Etsy due to traveling and a real estate project, I managed to exceed my sales goal for the month. However, I have noticed a decline in momentum and growth. Let's dive into the details and explore the numbers.
Month Five on Etsy: Traveling and Real Estate Projects
During the month of May, I faced various challenges that limited my time and dedication to Etsy. The first obstacle was extensive traveling, which occupied a significant portion of my schedule. Additionally, I have been involved in a real estate project. My husband and I invest in real estate, and we are currently working on a vacation rental project. The time crunch associated with this project further reduced the time I could allocate to Etsy. As a result, I have only been spending around 15 minutes a day on Etsy, and some days even less. Listing new items has also become a challenge, with only around five listings per week instead of my usual daily listing goal.
Impact on Sales and Momentum
Naturally, I was worried about how these limited efforts would affect my sales on Etsy. In the previous month, my shop experienced significant growth and momentum. However, I have noticed a decline in traction during May. Although I am grateful for my sales, I believe that with more focus and consistent listing, my shop can continue to grow and improve.
Revenue Goals and Achievements
My ultimate goal is to transform my Etsy shop into a six-figure business, with a monthly revenue goal of $8,300 by the end of the year. To track my progress, I have set up revenue goals for each month. For May, my goal was $2,600. I am pleased to say that I exceeded this goal, with a total revenue of over $4,400. While I am satisfied with my sales for this month, I acknowledge that there is room for improvement.
Etsy Dashboard Overview
To gain a deeper understanding of my sales performance, let's take a look at my Etsy dashboard. It's essential to note that although I exceeded my revenue goal, I'm slightly bothered by the numbers as they reveal a lack of growth and stagnation in various areas. Throughout May, my conversion rate declined slightly, and none of my statistics showed significant improvement.
Concerns about Sales Performance
While organic search remains the primary source of traffic for my shop, I find it interesting that a relatively small amount comes from Etsy ads despite the substantial budget allocation. I have been investing a significant amount in ads, but it seems to account for only a fraction of my overall traffic. However, it's worth mentioning that ads' impact is not always fully measurable since increased organic traffic can be a result of previous ad performance and algorithm preferences.
The Role of Pinterest
One area where I had hoped to see more results is Pinterest. I have been consistently listing five pins every day on Pinterest, but I have yet to see any significant impact. Despite hearing from experienced Etsy shop owners that Pinterest can be a powerful tool, it seems that it may take some time before I start reaping the benefits. I will continue to optimize my presence on Pinterest and provide updates on its effectiveness.
Evaluating Advertising Strategy
Analyzing my ad strategy for May, not much has changed compared to the previous month. I am still utilizing the same strategy and breaking even on my ads. However, I have increased my ad spend from $25 to $35 per day. While some may question why I continue to invest heavily in ads, I believe that an aggressive ad strategy is essential for the growth of my shop. By directing a substantial budget towards my top-performing, optimized listings, I can maximize the chances of conversions and sales.
Gross Revenue and Expenses
Taking a closer look at the numbers, my gross revenue for May surpassed $4,400. I paid $565 in fees and $1,133 for marketing expenses. The latter remains my most significant expense, and although it is a necessary investment, it does highlight the importance of optimizing my shop's performance to ensure a more significant net profit.
Net Profit Comparison
While the revenue figures are encouraging, I cannot overlook the fact that my net profit for May only increased by approximately $25 compared to the previous month. As someone striving to grow my shop significantly this year, this marginal increase is not satisfactory. Therefore, I am determined to buckle down, commit more time and effort, and start listing more consistently to drive better results.
Importance of Consistent Listing
Based on my observations, maintaining consistent listing activities plays a crucial role in attracting customers and sustaining shop growth. Despite being a challenge for me in the past month, I recognize the importance of dedicating more time to this aspect of my Etsy business. By continuing to list consistently, I anticipate that my shop's performance will improve, leading me closer to my goal of a six-figure business.
Offering Free Etsy Listings
Lastly, I want to express my gratitude to all those who have clicked on my referral link for 40 free Etsy listings. Thanks to your support, I have accumulated a surplus of free listings. I believe in paying it forward and providing opportunities for other new shops to benefit from free listings. If you would like to receive 40 free Etsy listings, please comment with your referral link. I will randomly select someone and feature their link in my video descriptions, helping them generate more clicks and free listings.
Thank you for watching this video, and best of luck in your own Etsy journey. Don't forget to like, subscribe, and stay tuned for more updates!
Highlights
- Despite limited dedication to Etsy, I exceeded my sales goal for the fifth month.
- However, I observed a decline in momentum and growth.
- My ultimate aim is to transform my Etsy shop into a six-figure business by the end of the year.
- While organic search remains the primary source of traffic, Etsy ads have had minimal impact.
- Pinterest has yet to yield significant results, but I will continue to optimize my presence.
- An aggressive ad strategy is essential for the growth of my shop, focusing on the top-performing listings.
- While revenue figures are encouraging, my net profit only marginally increased in May.
- Consistent listing activities play a crucial role in attracting customers and sustaining shop growth.
- I am offering 40 free Etsy listings to new shops, supporting their journey towards success.
