Retail is a dog eat dog industry. Those who succeed are those who never give up on their dreams and take advantage of every opportunity. This article outlines three strategies that have helped some very successful Etsy stores gain market share.
Today people get to shop for all kinds of items online, from fashion and beauty to baby products and party decorations. People can visit dozens of websites in the hopes of finding what they're looking for but end up overpaying or settling for second best because they don't know where else to look.
These five retail success strategies business coaches swear by will help you build your brand awareness while helping your existing clients buy more from you.
Keep Up With Trends Without Losing Your Goals
Keep yourself up to date with all things Etsy. Figure out what works by visiting other shops and finding those struggling to maintain their sales on the platform. Regardless of how much you love an idea or product, if it's not selling, don't waste your time promoting it to new customers!
Join groups like ETSY Discussions where sellers can share tips, advice and ask questions about running a successful online handmade shop.
Trends may also be about your products, such as how you deliver them, what they consist of, among others. So, suppose the current trend expects you to order a different product that your customers seem to prefer over yours. In that case, you must get on board and purchase these new products for your customers. Don’t worry about their safety in your store; you can always hire Knight Owl Security to protect your office or store for a peaceful mind.
Always Have a Clear Vision of Your Business
Clear goal setting is the first thing you need to do when starting a business. Your goals must align with your brand and what you want your customers to get from doing business with you. For example, let’s say that this year, your goal is to have 2,000 new sales by December 31st. That means getting 600 clients per month in November and December. If you've done this once before then, it's likely possible to meet this goal if not exceed it each month until Christmas day.
If, however, you're having trouble meeting even half of your monthly targets then it might be time to reevaluate how much time and money you are putting into marketing or make adjustments where needed.
Execution Is the Key to Success
Without proper execution, no business plan is going to work. So it’s likely that if your Etsy store has not been profitable yet, then you need some adjustments to get it moving in the right direction.
After setting goals, determine what strategies are needed to meet those target numbers and make necessary changes. Once you set a course of action, you can start marketing accordingly.
Also, learn how to strategically reach out and network with others. This will help boost your brand image and generate more sales over time.
Conclusion
As you can see, there are many strategies for boosting your shop. However, sometimes spending too much time marketing your business and not enough on production can be a problem.
It's essential to set goals for yourself and understand how much time you need to meet each month’s numbers. Things like blogging, creating a social media campaign or updating your website are all great strategies that will help boost sales over time.
