Latest / The Modern Etsy Seller Podcast / 56. Should I Participate in Etsy's Sales Events? | Etsy Tips for Sellers

Transcript

56. Should I Participate in Etsy's Sales Events? | Etsy Tips for Sellers · The Modern Etsy Seller Podcast

• 0:07
  SPEAKER_00: Hey there, welcome to the Modern Etsy Seller Podcast.
• 0:09
  SPEAKER_00: And what you're wondering, the segment where I answer one specific Etsy question in under five minutes.
• 0:15
  SPEAKER_00: I'm Melissa, a busy working mom with two profitable Etsy shops, and I am here to help you build yours.
• 0:21
  SPEAKER_00: In today's episode, I'm answering the question: Should I participate in Etsy's sales events?
• 0:27
  SPEAKER_00: So before we talk about whether or not you should participate, let's go over what exactly an Etsy sales event is.
• 0:33
  SPEAKER_00: Throughout the year, Etsy runs promotional events around major holidays and shopping periods like Mother's Day and Black Friday.
• 0:40
  SPEAKER_00: During these events, Etsy encourages sellers to offer discounts on their products.
• 0:45
  SPEAKER_00: And in return, the participating sellers might have opportunities for additional exposure through Etsy's marketing and search results related to this sale.
• 0:55
  SPEAKER_00: Right now, Etsy is inviting sellers to participate in its upcoming Cyber Specials event.
• 1:01
  SPEAKER_00: It's gonna run from November 23rd through December 1st.
• 1:05
  SPEAKER_00: And to be considered for Etsy's marketing features during this event, you need to sign up by October 27th and you need to offer a discount of at least 25%.
• 1:17
  SPEAKER_00: Now I want to emphasize something here.
• 1:19
  SPEAKER_00: Just because you participate in the event doesn't mean Etsy is automatically going to feature your products in its marketing.
• 1:26
  SPEAKER_00: You're simply making your products eligible for consideration.
• 1:29
  SPEAKER_00: But even if Etsy doesn't specifically feature your products, your listings may still appear in search results related to the sale.
• 1:36
  SPEAKER_00: So where do we find these events?
• 1:38
  SPEAKER_00: You're going to find them in your Etsy shop manager under the marketing section.
• 1:43
  SPEAKER_00: So go under marketing and then go to sales and discounts.
• 1:46
  SPEAKER_00: In there, you want to look for the invitation to join Etsy's next sales event.
• 1:51
  SPEAKER_00: From there, you're going to be able to review the details, set up your discount, choose which listings you want to include because you don't have to put your entire shop on sale.
• 2:00
  SPEAKER_00: You do get to pick and choose which products to discount.
• 2:03
  SPEAKER_00: All right, so that's what they are.
• 2:06
  SPEAKER_00: That's where to find them.
• 2:08
  SPEAKER_00: But now the big question is it worth it?
• 2:10
  SPEAKER_00: Should you participate in these events?
• 2:12
  SPEAKER_00: And my answer is that it depends on your profit margins.
• 2:16
  SPEAKER_00: Before you sign up, you need to know exactly how much money you're going to make on each order after that 25% discount.
• 2:24
  SPEAKER_00: As print-on-demand sellers, our profit margins can sometimes already feel tight.
• 2:29
  SPEAKER_00: Plus, we're heading into the holiday season when shipping costs often increase, and the postal service implements these seasonal rate increases that the print providers oftentimes pass on to us.
• 2:42
  SPEAKER_00: So you need to account for those costs too.
• 2:46
  SPEAKER_00: I personally have always participated in the cyber sales event.
• 2:51
  SPEAKER_00: And while I've definitely seen a huge increase in orders, I can't tell you how much of that increase came from participating in the event versus the fact that more people are shopping during that time anyway, right?
• 3:05
  SPEAKER_00: It is Q4.
• 3:07
  SPEAKER_00: That is the week right after Thanksgiving.
• 3:10
  SPEAKER_00: That is Black Friday.
• 3:11
  SPEAKER_00: You're already going to have sales increases during that time.
• 3:16
  SPEAKER_00: So whether it's because I've participated or not, I have no idea.
• 3:20
  SPEAKER_00: Personally though, I will be participating again, but I haven't decided yet if I'm gonna put my whole shop on sale or just specific items.
• 3:28
  SPEAKER_00: I've always done my whole shop in the past, but I was thinking about just doing specific things this year.
• 3:34
  SPEAKER_00: I'll let you know when I actually make a final decision there.
• 3:37
  SPEAKER_00: But what I suggest you do is before deciding one way or the other, take a few minutes to run your numbers at 25% off.
• 3:46
  SPEAKER_00: Factor in all of the normal fees, plus, if there are any shipping surcharges that your provider is adding, you want to factor those in too.
• 3:55
  SPEAKER_00: If you're unsure, head on over to your print provider's website.
• 3:59
  SPEAKER_00: They most likely have that information available already at this time.
• 4:03
  SPEAKER_00: If you're still making a profit that you're comfortable with after running the numbers, I think it's worth trying.
• 4:08
  SPEAKER_00: But if that discount leaves you making very little on each order, don't feel like you have to participate.
• 4:14
  SPEAKER_00: You are still gonna benefit from holiday shopping traffic even without joining Etsy's official sales event.
• 4:21
  SPEAKER_00: And the goal here is not just to make more sales, right?
• 4:23
  SPEAKER_00: It is to make more money.
• 4:26
  SPEAKER_00: Okay, that's it for today.
• 4:27
  SPEAKER_00: But before I let you go, I want to tell you again about an opportunity that you might be interested in.
• 4:34
  SPEAKER_00: I am currently developing a one-on-one Etsy coaching program.
• 4:38
  SPEAKER_00: It's a two-week coaching sprint, and I'm looking for five print-on-demand sellers who would like to participate in it.
• 4:44
  SPEAKER_00: You'll work with me for two weeks completely free.
• 4:47
  SPEAKER_00: Over those two weeks, we'll take a look at where you are currently in your Etsy business and identify one specific goal that you'd like to work toward or that we establish you should work toward in our first meeting together and put together a plan to help you make progress.
• 5:01
  SPEAKER_00: You'll get three one-on-one coaching calls with me along with Voxer Messaging support between the calls.
• 5:07
  SPEAKER_00: This is open to sellers at all different points in their journey.
• 5:10
  SPEAKER_00: Whether you're preparing to open your shop, you've recently got it started, or you've been selling for a while, you are welcome to apply.
• 5:17
  SPEAKER_00: In exchange, I'm asking for your honest feedback about the experience as I continue to develop the program.
• 5:24
  SPEAKER_00: Now I'm only selecting five people and applications close this Friday, which is actually tomorrow if you're listening to this the day it drops.
• 5:33
  SPEAKER_00: So Friday, October 16th is the last day for applications, and I will be reaching out to the five selected people on Saturday.
• 5:42
  SPEAKER_00: So if you're interested in getting some personalized help with your Etsy print on demand business, you will find that link in the show notes.
• 5:49
  SPEAKER_00: All right, so thanks again for spending some time with me, and I will see you next week.