Small business advice personalized for those who are new to business
With nearly a 100 million shoppers on Etsy, you have probably considered it as a potential way to start selling your products online. But you might be wondering if it’s worth it. You might be asking: Is Etsy too saturated? Is Etsy too expensive? Should I do my own website instead of Etsy? I’ll answer your burning Etsy questions in this post, but here’s the root of it: I believe that Etsy is still the best way to get started with selling your products online. Here’s why:
1) Cheap to Start
Despite people complaining that Etsy’s fees are too high, it’s still one of the cheapest ways to get your products online and sold. For starters, there are no setup fees and no ongoing monthly fees for your store front. That doesn’t mean you can get by without putting any money up front, but it costs a LOT less than alternatives. There’s a small $0.20 listing fee per listing to get your item listed. There’s also standard transaction fees. But here’s what there’s not: website hosting, ecommerce platform fees, payment processing fees, and more. To get your own web store up and running, you’re going to spend between $300-800 in the first year, assuming you go fully DIY and don’t outsource any of the work. I got my Etsy shop up and running for less than $10 before I started making sales.
Financially it does make sense to move to your own website exclusively if your Etsy fees are equaling or exceeding that of your website fees. However, that’s a LOOONG way off for most small businesses. Basically, if your product catalog is less than 150 items, it makes sense to start and stay on Etsy. But the decision isn’t exclusively financial. There are two other important factors at play.
2) Incredible Analytics
Etsy offers incredible analytics without any additional set up. When I recently launched a new Etsy shop, I was floored at how much information they give you without charging extra and without having to use an outside source or service. They tell me which listings are the most clicked on, which have the highest revenue, where my traffic comes from, and what keywords people are using to land in my shop! Everything to make pivotal business decisions is right there in front of you!
3) Instant Audience
Speaking of traffic… starting on Etsy gives you an amazing head start in the way of getting traffic. You still have to treat it like a business, you can’t simply “list and forget it”, but Etsy has a trusted marketplace of over 80 million shoppers. With a little good SEO, your listings are going to show up to the right buyers. I do a pretty good job of directing traffic to my Etsy shop through social media, even still Etsy provides 70% off my traffic. If I wasn’t on Etsy, I’d have less visitors and less sales. The hardest part about going with your own website is getting enough traffic to make it worth it. You can make it a lot easier on yourself by starting with Etsy.
If you’re looking for more Etsy tips, check out my other Etsy blog posts. If you're in the beginning stages of turning your passion into a profitable business and are looking for help with your next step, I might be the right coach for you! The first coaching call is free to see if we'd be a right fit for one another.
Hey! My name is Christine and I'm an entrepreneur and small business coach. I've learned most of what I know through trial and error. I help women who are new to business to take their next steps with confidence and clarity.