Etsy is an online marketplace that burst onto the scene during the Covid-19 pandemic. It’s developed a name for itself as a place where consumers can purchase handcrafted, unique items without having to leave their homes.
Etsy had over 2.5 million sellers at the end of 2019. And that number is only expected to rise in the future. Add to that the company’s nearly $5 billion in 2020 revenue and it becomes clear that the popular online marketplace has a bright future ahead of it.
Maybe you’d like to become a part of all of this. If so, you’ve come to the right place. We’ve put together a guide that will demonstrate the steps that you need to take in order to start making money on Etsy by selling unique items.
Before getting into that, if you’re looking for a company that will help you source the creations that you’ll sell on Etsy, consider Podify. We’re a print-on-demand (POD) service that allows you to sell customized apparel, tech accessories, puzzles, and more without having to handle any inventory yourself. Keep reading to learn more.
Determine What You’ll Sell
The first thing that you need to do is figure out what you’ll sell in your Etsy store. This is a decision that should be based on several key factors.
For example, you’ll want to verify that the items you’re selling have a demand on the marketplace. Inventing a brand new product can be exciting, but you may not get many sales if no one’s searching for it or understands what it is.
A good strategy is to look into which types of items do the best on Etsy. For example, stores that sold face masks did tremendously well during the Covid-19 pandemic. That’s not to say that you need to follow the crowd completely. Your best bet is to take one of your passions and figure out how you can turn it into a product that satisfies one of the market’s demands.
You’ll do even better if the products that you offer are unique to your Etsy store. For example, you can use Podify to create customized air pod cases that stand out from what everyone else in your niche is doing.
Make Sure You Can Make a Profit
It’s not enough to simply create a product that people on Etsy will want to buy. You also need to ensure that you’re being rewarded for the time that you spend doing this. You need to verify that you will make a profit when you get a sale on Etsy in order to ensure that your making good use of your time.
To do that, you should weigh the costs of a sale against the revenue you expect to generate from one. These are the costs that you should analyze:
- Production costs
- Etsy’s fees ($0.20 to list an item, 5% of the sale price)
- Marketing costs
- How much you can sell each product for
If you’re not sure how much you can charge for each of your items, do some research. Check in on successful Etsy stores that sell products in your niche and see what they’re charging. Then use that information to inform your profit plan.
Podify can help you save money so that you can ensure you’re making a profit with your Etsy store. Our print-on-demand service is up to 25% cheaper than the other major players in our space.
Set Up Your Shop
Next, you’re ready to set up your shop. This is a process that will involve several things. First, you need to take appealing photos of the items that you plan on selling. It’ll be worth your time to do some research online to ensure that you get it right.
After that, make sure that you write engaging descriptions for both your items and your shop. Ideally, the words that you write will help to bring your store to life, showing your customers exactly why they should purchase from you instead of from one of your competitors.
You may also want to take advantage of Etsy’s in-house customization tool, called Pattern. The tool enables you to make a website that’s as unique as the products you sell. Pattern costs $15 a month, but it can be a fantastic way to differentiate your store from the competition.
This is one of the most challenging parts of being successful on Etsy. There are millions of sellers on the marketplace. So it’s critical that you’re able to find a way to set yourself apart from the crowd and attract a base of clients.
Most Etsy store-owners do this via social media marketing. Pinterest, in particular, is a very powerful way to drive new traffic to your shop. But you can also use platforms like Facebook and Instagram to attract new clients.
Ultimately, you need to figure out how you will provide value to your customers. Consider why someone would want to buy from you. Then translate that into marketing content that you distribute through all of these social media channels.
The process may take some time. But if you stick with it, you’ll start gaining a real following on your social media accounts. That’s the first step towards turning your Etsy store into a successful one with targeted marketing.
Take the Next Step with Shopify and Podify
61% of Etsy sellers are multi-channel retailers. As your shop grows, it could make sense to expand your online presence outside of the Etsy platform. The simplest way to do that is by creating a standalone online store with Shopify.
Podify was specifically designed for Shopify integration. Its powerful design tool will allow you to continue creating your own unique product designs within minutes — regardless of whether you integrate Podify with Shopify or continue using it with your Etsy store.
You can even give your customers the freedom to design their own personalized products. We dropship products that most companies don’t, including jigsaw puzzles, reversible sequins, and even yoga mats.
But don’t just take our word for it. Check out our Demo Shop to see all of the unique products that you could begin selling to your customers on Etsy to make money.