5 Tips To Surviving a Slow Month on Etsy
It’s bound to happen, there are ups and downs in business. Maybe it’s not because you suck but because that is the retail life cycle. Depending on what business you are in, there are some businesses that are slower than others for you and it will feel like the walls are caving in, but I assure you that it probably isn't. Instead I want you to focus on these 5 tips to survive a slow month on Etsy - which you can apply even if you don’t sell on Etsy.
Tip 1: Focus On Creating More Items
Don’t fall victim to being in a slump. I meet many shop owners who usually need to work on creating more items. Once you launch a slew of items, you know some more have to be launched for the following season. It’s best to get a head start when business is slow. I mean, when else are you going to work on a new product line? When you're up to your eyeballs in orders? No thanks! Hopefully you already strategically planned your year and your product lines so you know what the next step is. If you need help working on a product line that your customers will absolutely love, check out this blog that gives you 3 tips to creating a successful product line.
If you need additional help with creating product lines during the year, it's important to focus on the holidays and events that are going on in peoples lives. Here is a quick summary of date that SHOULD be on your marketing calendar (if it applies to your business).
January 1st - New Years
Sometime in January - School starts up again
Feburary 14th - Valentines
March 17th - St. Patricks Day
March 25th - Good Friday
March 27th - Easter
May 5th - Cinco De Mayo
May 8th - Mothers Day
Sometime in May or June - School ends
June 19th - Fathers Day
Sometime in August - September - School starts up again.
October 31st - Halloween
November 24th - Thanksgiving
November 25th - Black Friday
December 25th - Christmas
It's important to see what things you can add to your marketing calendar to plan a product launch for. This list is just a quick list I threw together, I'm sure there are other things you can add to your list depending on your business. Need help planning for the holiday season? Then check out my 3 blog posts here, here and here that will show you everything that you need to accomplish by the holiday season.
Tip 2: Clean Up Shop
Here is a list of things on your shop that probably need some cleaning up:
1. Descriptions - Do your descriptions not only describe the product but entice the buyer and make them feel that this product is just for them? Do you include features of the product in your listing? Do you up-sell on your description by including links to other listings that the customer may like? Don't forget to check out my Rock Your Descriptions Webinar that will help you decide what you MUST have in your descriptions.
2. Are all your photos consistent and cohesive? It may be time to work on cleaning up the look of your photos and branding of your shop. Check out my free webinar on branding to help you get started by signing up for my exclusive email list. Don't forget to check out my blog post that gives you 3 steps to a better photo.
3. Have your policies all filled out? Time to sit down and make sure they are all clear and address any questions or concerns your customer may have about your product. This will not only help close a sale but also come across as more professional. Psst.., On Etsy, the policies are kind of robotic, so make sure you have your FAQ's thoroughly filled out.
4. Redo your About Me section. Do your photos show off your production process, your work space or maybe you working in a craft show? These are some ideas that can make your About Me photos shine. What about the copy? This is a great space to introduce yourself, what you do, what you sell and what makes your product special. Don’t forget to talk up the benefits of your product and shop so customers know why it’s important that they shop with you.
Click here to find out the 3 things that you aren't doing in your business that is costing you sales.
Tip 3: Create A New Shop
I do not recommend this idea to anyone currently “struggling” with their first shop, but creating another shop that does well in the off season can help you make up for sales and not so busy times. If you don’t want to create a new shop, can you create a new product line that sells during the slow season (of your first shop)? Think about creating a line for birthdays or events that happen all year around. Maybe the second shop is a supply shop that helps you sell of additional supplies you may not need anymore.
Tip 4: Organize Your Finances
Bookkeeping isn’t the most glamorous topic but you know it has to be done. When tax season rolls around you don’t want to be scrambling to organize your receipts and what not. It’s important to use this slow time to get yourself organized for the future. Create a bookkeeping system that works for you. You may also want to invest in a program a cloud-based bookkeeping system like QuickBooks or GoDaddy. Whichever you choose, be sure to consistently update it and input your finances so you won’t be sweating when tax season rolls around.
Tip 5: Wholesale & Retail Opportunities
Will your product do well in stores? Then maybe this is a great time to source some retail stores that would be a perfect match for your products. It’s best to start locally and scope out which stores carry products like yours that fit your brand. Create an Excel spreadsheet of the name of the store, location, telephone number, owner name, and email info for the owner. After you get a list of about 5-10 retail locations, it’s time to get your pitch together, marketing materials and either make appointments to go meet with them or go to the location and ask to speak to the owner to see when would be a good time for you to discuss why your products would be a great match for their retail location. It would also be a smart idea to research more about their brand so you come off as prepared and professional.
GOT ANY QUESTIONS OR COMMENTS? LET ME KNOW BELOW, I'D LOVE TO CHAT!
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