From Bath Bomb to Bankroll: My Etsy Success Story
Table of Contents
- Introduction
- My Journey on Etsy
- The Slow Start
- Learning and Evolving
- The Rise and Fall in April
- May Madness
- June Setbacks
- Summer Slump
- The Impact of YouTube
- The Importance of Conversion Rates
- Lessons Learned from Selling on Etsy
- Plans for the Future
- Conclusion
My Journey on Etsy
Introduction
Welcome back to my channel! In today's video, I want to take you on a journey through my experience of selling on Etsy in 2020. It was a rollercoaster ride filled with highs and lows, lessons learned, and unexpected surprises. If you're interested in starting your own Etsy shop or want to know more about what it's like to sell on the platform, this video is for you.
My Journey Begins
I created my Etsy shop back in 2017 with the hopes of turning my passion for soap making into a business. However, it wasn't until July 2019 that I made my first sale. Yes, it took me two years of waiting and learning to see any success. But during that time, I was constantly educating myself about Etsy, improving my product listings, and refining my skills. I knew that success wouldn't come overnight, and I was willing to put in the time and effort to make my shop the best it could be.
The Slow Start
Even after my first sale, the sales didn't come pouring in. I was only averaging a couple of sales a month, and by the end of 2019, I had made just $1,135.89. It was discouraging, but I didn't give up. I saw the potential in Etsy and believed that with perseverance and continued growth, I could achieve success.
The Rise and Fall in April
April 2020 marked a turning point for my Etsy shop. Suddenly, my views and sales started to increase. From a few sales a month, I went to four sales in April, and then something incredible happened on the 16th of the month—my views jumped from 9 to 27, and I received two sales in just one day. This was a milestone for me, and it gave me hope that my shop was gaining traction.
But the real surge came in the last week of April. I received a staggering 74 orders, and my views skyrocketed to 737. By the end of the month, I had made $2,714 in revenue. It was an unprecedented success that I never expected.
May Madness
If April was crazy, May was pure insanity. My views went from around 700 a day to a peak of 1,802 views on the 4th of May. I received 42 sales on the 1st, 43 sales on the 2nd, and 27 sales on my birthday, May 4th. It was overwhelming but incredibly exciting. All signs pointed to Mother's Day and the surge in online shopping due to the ongoing circumstances. My best-selling items were gift sets, which were in high demand as people couldn't visit their mothers in person.
June Setbacks
June was a different story. My views and sales took a dive. I attribute this to a decision my partner and I made to raise the prices of our products in order to manage the overwhelming amount of orders. We wanted to focus on quality rather than quantity and ensure that our business could handle the demand. Additionally, summer is typically a slower time for my products, so the drop in sales was expected. By the end of June, my revenue had decreased to $2,319.55.
Summer Slump
The months of July, August, and September remained steady in terms of visits and orders. Although sales were consistent, they were not as impressive as the peak months of April and May. This was during a time when I started to focus more on my YouTube channel, which was gaining traction. As a result, many visitors to my Etsy shop were not necessarily buyers but rather viewers seeking information or checking out my products. This impacted my conversion rates and led to a decline in sales. However, I didn't mind this decline as my YouTube channel provided new streams of income and allowed me to help others in the soap and bath bomb business.
The Impact of YouTube
My YouTube channel played a significant role in driving traffic to my Etsy shop. However, the visitors from YouTube were not converting into buyers at a high rate. Consequently, the Etsy algorithm noticed this pattern and dropped my items in search rankings. While this may have affected my visibility on Etsy, I didn't mind because my focus had shifted to building an audience and providing valuable content. I found fulfillment in helping others improve their businesses through my YouTube channel.
The Importance of Conversion Rates
One of the lessons I learned from my experience on Etsy is the significant impact of conversion rates. Etsy's algorithm prioritizes listings that have a higher conversion rate, meaning the listings that convert visitors into buyers. Therefore, it is crucial to drive targeted traffic to your Etsy shop and ensure that your listings are optimized to convert customers. While I was not generating many sales from non-buyers visiting through my YouTube channel, I considered it a trade-off for the success I was experiencing on the platform.
Lessons Learned from Selling on Etsy
My journey on Etsy taught me several valuable lessons. Firstly, I learned not to be discouraged by a slow start. Success on Etsy takes time, effort, and continuous learning. Secondly, I realized that high sales volume is not always desirable, especially when it exceeds your capacity to fulfill orders. It is better to focus on fewer sales with higher profits and maintain a sustainable business model. Additionally, I recognized that Etsy's performance can be fickle, with fluctuating sales and visibility.
Plans for the Future
With the knowledge and experience gained from my journey on Etsy, I am optimistic about the future of my shop in 2021. While I don't expect to recreate the craziness of May 2020, I foresee steady sales and continued growth. My focus will remain on providing quality products, excellent customer service, and diversifying my income streams. While Etsy will always be a part of my business, I won't solely rely on it for income. Instead, I will continue to explore new opportunities and channels to expand my business.
Conclusion
In conclusion, my journey on Etsy in 2020 was filled with challenges, triumphs, and valuable lessons. I encourage anyone considering starting an Etsy shop to embrace the learning process and not be discouraged by slow progress. Etsy can be a rewarding platform for selling handmade products, but it requires patience, perseverance, and ongoing adaptation. As I continue this journey, I am excited about what lies ahead and the possibilities for growth and success.
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