Wednesday, January 14, 2009

Concern over CPSIA on the rise; CPSC.gov not a popular resource




CPSIA buzz (source: Blogpulse.com - Chart 1) and search activity (source: Google Trends - Chart 2) peak on January 8. Despite this increased interest, CPSC.gov has not received an influx of traffic this month (source: Google Trends for Websites - Chart 3).

In the past, primarily during food or toy recalls, I have seen an uptick in traffic to the relevant government website. In this case, the bulk of the activity is taking place on blogs like DaddyTypes and Treehugger. It will be interesting to see how this plays out. Has the CPSC totally lost control to small business owners and advocates?

Tuesday, January 6, 2009

Etsy Seller Tips

First and foremost, take advantage of Etsy's resources!
- Selling Tips Guide: http://www.etsy.com/storque/how-to/the-etsy-seller-handbook-all-our-how-tos-about-selling-2383/

Photos
- I think photos may be THE most important thing to focus on when perfecting your selling skills. Photos should be in focus. Seems like a no-brainer, but I see a lot of out of focus photos on Etsy.
- Your work should not be competing with the background. When I first started, I wanted to have interesting backgrounds in my photos. I didn't realize that my pieces were competing with my backgrounds. A solid bright background keeps it interesting while showcasing your work.
- Etsy has A LOT of resources for photography tips. Read Etsy's Storque article on photography: http://www.etsy.com/storque/search/title/photography-how-to/

Price point
- Do not undersell yourself! Prices that are too low may deter buyers--buyers may assume that the lower price means lower quality (there is a lot of psychological research on price point if you're interested).
- Find a happy medium. If you are in a crowded category like I am (jewelry), you need to maintain a competitive edge. Do some competitive research on Etsy by searching in your category to see what the market tends to be charging.

Tagging
- Make sure to take advantage of ALL 14 tags
- Include color and adjectives
- Read Etsy's Storque article on tagging:
http://www.etsy.com/storque/how-to/shop-makeover-series-tagging-for-success-877/

Item Descriptions
- Descriptions should be well-written and should not have any typos. Typos can turn-off customers.
- The title of your item should include the type of item (e.g. "necklace") so buyers know what they're looking at even without clicking on the item.
- Include descriptions of all materials used. For example, if you're making jewelry, always include the types of metals you're working with. Many have allergies and may not purchase your items if you do not provide enough detail.
- Include measurements in inches and cm/mm. This will allow you to appeal to an international market.
- Use a similar format for all your items. If your first paragraph includes material descriptions and your second includes measurements, go with this set up for all your items.
- Read Etsy's Storque article on descriptions: http://www.etsy.com/storque/how-to/seller-how-to-making-the-most-of-your-descriptions-635/

Listing
- Spread out your listings. Whenever you list, you get 15 seconds on the front page of Etsy. This is great exposure so you want to make the most of it. Listing new items every couple days will maintain your exposure and keep people coming to your shop.
- Some sellers renew items to keep their items fresh in search results. I personally do not do this but have heard that it is helpful. Keep in mind that if you are going to renew items, you need to build the extra cost of listing multiple times into the price of your items.

Shop Appearance
- Ideally your shop name should be your business name. If it isn't and you're just starting out, I recommend creating a new Etsy account with your desired name. Once you create a username you cannot change it!
- Your avatar should clearly demonstrate what you're selling. Your avatar is a marketing tool when you participate in the Etsy forums or post to the Storque--take advantage of it!
- Your shop banner should be crisp and representative of your style and what you're selling. Some sellers purchase banners from other Etsy sellers, while others create their own using programs like Photoshop.
- Make sure that you include key search terms in the title of your shop (this appears right below the banner). This title is indexed by Google and will ensure that your shop shows up in search results.
- Take advantage of the shop announcement to tell buyers a bit more about yourself or your items. It shouldn't be too long, but a very short or non-existant welcome message can be a bit disconcerting for some buyers.
- Create sections so that buyers can browse your items easily. This is especially important if you have a lot of items in your shop. Section names should be descriptive, not hokey.
- Use your featured spots. These appear as the stars next to your items when you click on "Your Etsy." Click on the star so that it becomes green. This allows your featured items to appear at the top of the page, slightly larger, as well as wherever you have them listed below.

Customer Service & Presentation
- Fill out your shop policies before you start selling. Make sure to include your return, shipping and tax policies.
- Show your buyers that you appreciate their interest/purchases. Always send a thank you note (either via email or on Etsy) after a buyer makes a purchase. I send a follow up note to confirm that the item has shipped as well.
- Leave feedback for your buyers. This will encourage them to do the same for you once they receive the item. I do not recommend explicitly asking your buyers for feedback.
- Package your items well. At the very least, your items should be packaged securely. I recommend making your packaging attractive and personalized. For example, I include a handsewn jewelry bag with every purchase. I have created a logo using stamps and customize all my boxes. If your packaging is really pretty, I recommend including a photo of it as one of your five photos per item on Etsy.
- Include coupons/incentives for buyers to become repeat buyers, either by including a printed coupon in the package or asking if buyers want to opt-in to a mailing list with deals for repeat buyers.

Promotion
- There are endless ways to promote, online and offline, and many are totally free. Do not spread yourself too thin--focus on a few outlets that you know you can maintain.
- Etsy Street Team - participate in craft events with your team, promote on your team's blog, provide give-aways
- Personal blog - keep your content fresh so that visitors will keep coming back, post how-tos, videos
- Twitter - Follow Etsy on Twitter. Once you follow Etsy, other Etsyiers will start to follow you. It is up to you if you want to follow everyone who follows you. You can set up RSS feed from your Etsy shop, but make sure to also write original content or else you may be considered spammy
- Flickr - post photos of your items to Flickr to get exposure
- Google Base - ensures that your pieces show up in the Google Shopping Engine (use Lets Ets to easily set up you Google Base feed)
- Google Ad Words - I haven't done this but many on Etsy have (costs $)
- Banner Ads - I haven't done this either, but some blogs offer free banner ads
- Participating in Etsy Forums - This is a good way to get your name out there. A balance of asking for help and providing advice is best. Definitely ask for a shop critique at least once.
- Include link to your shop if you participate in other communities
- Create treasuries - although the treasury will not feature any of your items, people may still click on your name as they peruse treasuries. Also, sellers that you have included in treasuries may return the favor down the road and include your item in a treasury.

Tuesday, December 23, 2008

How much of a threat is Artfire really?


There's been a lot of buzz about Artfire on the Etsy forums and I wanted to see just how large of a threat Artfire really is. As of December 2008, Artfire appears to be attracting an average of 18K people per month, while Etsy is bringing in an average of over 2.2M people per month (source: Quantcast). There's quite a disparity there; however, 12% of visitors to Artfire are coming directly from Etsy (source: Compete)!

Although it is a much smaller site, 1000markets is another Etsy competitor that garners attention on the Etsy forums. 1000markets attracts less than half the number of people that Artfire brings in (source: Quantcast) and over one-third of the visitors to 1000markets came directly from Etsy (source: Compete)!

I thought it was really interesting to see that Blogger.com falls in the list of top 3 sites that people are visiting before coming to Etsy. This is a testament to the promotional power of blogs. Keep at it crafty bloggers--they're clearly working!

I'm going to keep my eye on traffic levels to Artfire in the coming months. I expect to see numbers increasing--especially the % of visitors that are coming directly from Etsy.

Thursday, December 4, 2008

The number of buyers on Etsy keeps growing--and so do the sales


The number of buyers and sellers on Etsy has grown by leaps and bounds, much like all the other statistics that Etsy's Storque blog provides.

I was very happy to see that the marketplace has not been diluted by this influx of visitors. Goods sold (in dollars) and the number of new registered buyers per month have a very high correlation (r =0.97) between March and November 2008. What does this mean? Correlations measure the strength and direction of a linear relationship between two random variables, described by the range of -1.0 to +1.0.

In this case, my two variables are goods sold and # of new registered buyers per month. Since a correlation of 1.0 means that the two variables follow the exact same, increasing trajectory, a correlation of .97 means that the two variables have a very strong positive relationship. In other words, the new members registering as buyers are actually buying--and at a steady rate.

Despite the downturn in the economy, Etsy broke the $10M in sold goods mark in November. That is a pretty amazing feat; congrats Etsy on another great month!

Wednesday, November 26, 2008

Etsy Buzz on the Rise


Blog mentions of Etsy have followed a steady upward trajectory over the past 6 months. While sellers use blogs to drive traffic to their pages and shoppers share special finds, it's not just personal bloggers driving the discussion. Influencial blogs like BoingBoing.net are beginning to pick up on Etsy artists. On November 21, BoingBoing.net featured Guy Michael Davis' turkey head salt and pepper shakers. With over 2 million global visitors each month (according to Quantcast), this mention on BoingBoing.net alone is sure to drive traffic to Etsy.

Mission Statement

As a self-diagnosed Etsy addict and data enthusiast, my goal is to provide analysis for Etsy.com and explore how the social media space is shaping small businesses.

Importantly, I am in no way affiliated with Etsy--I'm just an Etsy fan that happens to love online market research and social media analysis.