It sounds contradictory, but the purpose of a loss leader is to make your business more money. In general, profit should be built into every product’s price. But in some cases, it may be beneficial for your business to NOT profit from a sale. This article explains what a loss leader strategy is, how it…
For many businesses, the last quarter of the year is the highest revenue generating quarter. Consumers are looking for deals, items they want to put on their Christmas wish list, and shopping for gifts to give. Make sure your business is prepared for those shoppers by taking the following 7 steps. 1 – Set…
For most craft businesses and Etsy shops, the months leading up to Christmas generate the most revenue. Here are 5 easy ways to boost that holiday revenue even higher this year. 1 – Gift cards/certificates Sell digital gift cards that can be redeemed in your Etsy shop , on your craft business’s website, or…
I love behavioural science and learning more about the psychology behind purchasing decisions. If you want more people to speak highly of your business and return to buy again, you must ensure they hold a good opinion of your business and its products. And whether or not someone perceives your business and/or products as good or…
Stocking stuffers tend to be smaller, lower-priced items. “Lower priced” will be different for each business, and depend on its target market. To some, $5 is lower-priced while others consider $30 lower-priced. How much time and money you spend on stocking stuffer items should reflect your target market and the quality and price they’ll expect. Most…
There are no guarantees that what you make will sell. But there are a few places I like to look for clues that an item is popular before spending money on materials and time on production. It’s also important to have a good idea of what’s out there and if you can offer something better…
I created this “trend” list a little differently than my other trend lists (e.g. this year’s craft trends). This list is based on products that are commonly purchased for the holiday season either for gifts, decorating, or hosting. I’ve listed items that are showing high search volumes and appear to be on an upward trend heading…
Whether you sell your handmade products on Etsy or through your website, search engine optimization (SEO) is crucial to your online shop’s success. SEO is a complicated subject and search engines (e.g. Google, Etsy’s search engine) are constantly changing the algorithm so people can’t “cheat the system”. I’ve found, SEO doesn’t have to be that…
People are feeling the effects of inflation. Many resources are predicting that inflation will impact how shoppers behave and buy this holiday season. Here are a few examples of these sources: source 1 , source 2, source 3. Whether you’re seeing your customers’ shopping habits change due to inflation or not, these tips will help…
Social media is most commonly used by small business owners to market their products, brand, and business. But it’s NOT the most effective form of marketing. It can be frustrating to deal with a platform’s algorithm updates and getting your posts to actually reach your followers. When you use these 3 tips and change your…