Boost Your Income on Etsy with These Tips

Boost Your Income on Etsy with These Tips

Table of Contents:

1. Introduction
2. Etsy Shop Overview 2.1. Two Etsy Shops 2.2. Types of Products
3. Etsy Shop Statistics 3.1. Views and Conversion Rate 3.2. Number of Orders 3.3. Revenue
4. Traffic Sources 4.1. Etsy Traffic 4.2. Direct Traffic 4.3. Social Media 4.4. Etsy Ads
5. Printable Planner Shop 5.1. Visits and Conversion Rate 5.2. Revenue Comparison
6. Etsy Ads and Marketing 6.1. Etsy Ads Performance 6.2. Off-Site Ads
7. Financial Overview 7.1. Fees and Expenses 7.2. Profit Calculation
8. Conclusion
9. Business Budget (Upcoming Video)
10. FAQ

How Much Money I Made on Etsy in March 2022

Introduction

Welcome back to EverythingDigital, where we discuss various ways to make money online and dive into the world of digital products and business finance. In this video, I'm excited to share with you my Etsy shop earnings for the month of March 2022. I'll be providing an overview of my two Etsy shops, the statistics, traffic sources, marketing efforts, and financial details. Let's dive right in!

Etsy Shop Overview

2.1 Two Etsy Shops I currently manage two Etsy shops, each specializing in different types of digital products. The first shop focuses on selling printable planners, while the second shop offers editable templates. These two niches cater to different target markets and provide diverse revenue streams.

2.2 Types of Products In the printable planner shop, customers can find a wide range of beautifully designed planners that they can print and use for various purposes. On the other hand, the editable template shop offers customizable templates that can be easily personalized by customers for their specific needs. Both shops cater to customers seeking digital solutions for their organizational and planning needs.

Etsy Shop Statistics

3.1 Views and Conversion Rate Let's take a closer look at the statistics from my editable template shop. In the month of March, the shop received a total of 28,000 views, resulting in a conversion rate of 3.5%. This conversion rate is relatively average for this particular shop. It's worth noting that the number of views fluctuated throughout the month, with some days performing better than others.

3.2 Number of Orders The number of orders received in the editable template shop for March was 970. Although I had hoped to reach a thousand orders, I am still pleased with the overall performance. The order numbers correlated with the daily visit numbers, as days with higher visits generally resulted in more sales. The conversion rate remained consistently around 3.5% throughout the month.

3.3 Revenue In terms of revenue, the editable template shop generated a total of 8,118 euros for the month of March. The revenue varied from day to day, with some days surpassing the 500 euros mark. However, the average daily revenue typically fell between 200 to 320 euros. Notably, on March 9th, the shop achieved a significant milestone, reaching a sales volume of over 500 euros in a single day.

Traffic Sources

4.1 Etsy Traffic Etsy played a significant role in driving traffic to my shop, accounting for 77% of the total traffic. This is advantageous as I don't have to invest much effort into external marketing. However, I ensure that the SEO of my listings is optimized to maximize visibility within the Etsy search engine. Additionally, traffic from other Etsy pages also contributed to the shop's overall visibility.

4.2 Direct Traffic Direct traffic, where customers directly type my shop name into the search bar, constituted 23% of the overall traffic. This is a positive indicator as it reflects customer loyalty and brand recognition. It's reassuring to know that customers actively remember and seek out my shop, resulting in direct visits and potential sales.

4.3 Social Media Social media accounted for a smaller portion of the overall traffic, as I haven't prioritized it extensively for my shops. However, I recognize the potential and may consider increasing efforts on social media platforms in the near future. Nevertheless, the direct and Etsy-generated traffic provide a solid foundation for sustained sales.

4.4 Etsy Ads Etsy Ads have played a significant role in driving traffic to my editable template shop. In March, I allocated a daily budget of 10 US dollars to Etsy Ads, which resulted in 27,000 ad views. Among those views, 991 individuals clicked on my promoted items, leading to 79 orders and a revenue of 913 dollars. This indicates a positive return on investment, as the revenue generated from ads exceeded the ad expenditure.

Printable Planner Shop

5.1 Visits and Conversion Rate Moving on to the printable planner shop, it received a total of 9,600 visits in March. However, the conversion rate was comparatively lower at 1.4%. The printable planner market is highly competitive, and there are numerous sellers offering similar products. As a result, this shop generates fewer sales compared to the editable template shop.

5.2 Revenue Comparison In terms of revenue, the printable planner shop generated a total of 737 euros for the month of March. This is relatively average for this niche, considering the increased competition. However, I remain committed to consistently driving sales and maintaining a strong position in the market.

Etsy Ads and Marketing

6.1 Etsy Ads Performance In the template shop, I utilize Etsy Ads to further enhance visibility and boost sales. During March, I spent 303 dollars on Etsy Ads, generating 27,000 ad views. Out of those views, 991 individuals clicked on my promoted items, resulting in 79 orders and a revenue of 913 dollars. This highlights the effectiveness of Etsy Ads in driving traffic and conversions.

6.2 Off-Site Ads For the printable planner shop, I did not run Etsy Ads during March. However, due to the nature of the shop and its revenue level, it automatically qualifies for off-site ads. Etsy promotes my listings on external platforms such as Google, and I'm charged a percentage of the revenue generated through these ads. While I don't have control over off-site ads, I find it to be a convenient way to reach a wider audience.

Financial Overview

7.1 Fees and Expenses In terms of expenses, there are various fees associated with selling on Etsy. The editable template shop incurred 1,254 euros in fees, including listing fees, transaction fees, and processing fees. Additionally, there were marketing expenses of 403 euros for Etsy Ads. The printable planner shop had lower fees, totaling 151 euros, as it does not run Etsy Ads. These fees are necessary for the platform's services and maintaining a presence on Etsy.

7.2 Profit Calculation After deducting the fees and expenses, the editable template shop generated a profit of 6,548 euros and 59 cents in March. Accounting for additional expenses such as accountant fees and subscriptions, the actual profit may vary. Similarly, the printable planner shop recorded a profit of 624 euros and 14 cents. The combined profit from both shops amounts to a satisfactory 7,175 euros for the month.

Conclusion

In summary, March was a successful month for my Etsy shops, with solid revenue and overall profitability. Both the editable template shop and printable planner shop have their unique performance factors and challenges. The statistics, traffic sources, and marketing efforts highlight the importance of optimizing listings and leveraging Etsy's advertising capabilities. As I continue to refine my strategies and explore new avenues, I remain committed to providing quality digital products and creating a sustainable business model.

FAQ

Q: How do you manage two Etsy shops simultaneously? A: Managing two Etsy shops requires efficient time management and organization. I allocate dedicated time slots for each shop, ensuring that I can respond to messages, update listings, and manage customer inquiries effectively.

Q: How do you handle competition in the printable planner niche? A: The printable planner niche is indeed highly competitive. To stay ahead of the competition, I focus on creating unique and eye-catching designs, providing exceptional customer service, and continuously refining my SEO strategies to improve visibility within the Etsy search engine.

Q: Can you provide tips for running successful Etsy Ads? A: Running successful Etsy Ads involves careful targeting, keyword research, and monitoring ad performance. I recommend regularly evaluating ad performance, refining keywords, and adjusting budgets to maximize return on investment. Additionally, analyzing competitor strategies and incorporating compelling visuals can enhance ad effectiveness.

Q: Are there any plans to expand beyond Etsy in the future? A: While Etsy remains a valuable platform for selling digital products, I am open to exploring other avenues in the future. However, my current focus is on optimizing my Etsy shops and further expanding within the platform before considering expansion beyond it.

Q: How do you determine pricing for your digital products? A: Pricing for my digital products is based on various factors, including the uniqueness of the design, the target market's purchasing power, and the perceived value of the product. I conduct market research, analyze competitor pricing, and consider customer preferences to arrive at a fair and competitive price point.

Q: What advice do you have for individuals starting an Etsy shop? A: My advice for individuals starting an Etsy shop is to invest time and effort in SEO optimization, compelling product descriptions, and high-quality visuals. Building a strong brand identity, actively engaging with customers, and providing excellent customer service are also crucial for long-term success on the platform.