Hi there!
I’m Isabella from Etsy’s community education team.
In this video, we’ll cover why, when, and how to run a sale or promotion in your Etsy shop.
There are many different reasons you might consider running a sale or creating a coupon.
Maybe you want to entice new shoppers to try your product.
Clear out older inventory to make way for a new line.
Or encourage customers to come back and purchase from you again with a loyalty discount.
Offering strategic discounts in your shop can be a smart marketing tactic that can help bring new shoppers in,
retain existing customers and increase revenue to help you meet your business goals.
On Etsy, there are two types of promotions that you can run from your shop “sales” and “coupons.”
Whatever type of promotion you decide to run,
consider your margins and make sure it’s something that will ultimately help your business.
Consider the cost of supplies, labor, and shipping when determining your sale price or discount
…to ensure that you’re still making a profit on your promotion.
You can read “Creating a Small Business Budget” linked in this video’s description for more tips.
If it’s your first time running a sale and you’re not sure where to start, consider a promotion that coincides with a popular retail holiday.
Labor Day, Black Friday,
Cyber Week, and Boxing Day
…are popular moments for putting inventory on sale.
Participating in Etsy's sales events throughout the coming months
can help you attract and appeal to the influx of motivated holiday shoppers visiting the site.
If you participate in Etsy’s sales events,
your shop may be featured in Etsy’s marketing materials and can be included in search results related to the sale.
The “Sales and Coupons” tool in the “Marketing” section of your shop manager,
…lets you schedule and run “percentage off” sales ranging from 10 to 60 percent.
To reach the maximum number of customers,
share your promotion on social media and any other online channels you have,
including an email newsletter or your blog.
You can also promote your sale in your shop announcement.
Coupons are another great way to entice customers.
Share a thoughtful follow-up by sending a targeted offer coupon for a “percentage off” or “amount off”
to shoppers who have favorited one of your items or added something from your shop to their cart or both.
You can also turn seasonal shoppers into repeat customers by creating a “Thank You” coupon.
Once created, we’ll automatically send it to your customers
after they make a purchase in your shop to encourage a repeat visit.
Your Sales and Coupons dashboard show you the performance of your sale or coupon code
…by displaying home many orders were placed using your promotion and the revenue you made as a result.
To help judge the success of your promotion, one key metric to consider is incremental revenue,
revenue you would not have earned if you had not created your sale or coupon.
You can get the best sense of how your sale or coupon performed by looking at the orders and average order value.
AOV on the Sales and Coupons dashboard linked in the video description.
If you were to take a look at your dashboard and see that 10 orders were placed with the Sale or Coupon,
think about how many of those 10 orders were made because of the sale or coupon
and how many buyers you think wouldn’t have ordered without your discount.
The extra orders you made because of the sale or coupon are considered incremental.
If you’re seeing incremental orders and your AOV on your dashboard is increasing,
your promotion is probably successful.
For more tips on preparing her shop for the holiday selling season,
visit etsy.me/holiday.
Or check out the link in this video’s description.