INTRODUCTION
According to Statista, Etsy is one of the top 10 e-commerce retail websites in the United States, with more than 61 million unique monthly visitors.
The online marketplace also is estimated to have close to 2.5 million active sellers with a combined annual gross sales volume of $4.7 billion.
While Etsy provides an opportunity for all types of retailers, it also is becoming more competitive each year. Following are some Etsy advertising tips retailers can use to make their products stand out.
HOW TO RUN ETSY ONSITE ADS
Showcase your products more prominently across Etsy (e.g. on their websites and apps) with Etsy onsite ads. Its user-friendly ad platform allows you to get started in a few easy steps.
Go to your Shop Manager, click the Marketing tab and select “Etsy Ads” from the list of options. Set your daily budget, which must be between $1 and $125 per day, and manage your advertised listings. As a default, Etsy will promote all the active listings in your shop. Adjust the products you’d like to feature by checking or unchecking listings.
Since the ad is essentially the listing itself, make sure to optimize it before you launch Etsy ads. Use high-quality photos, descriptive headlines and supporting details shoppers look for when contemplating a purchase. In addition, include appropriate keywords throughout your listing to boost relevancy when a prospective customer begins their search.
Etsy factors in search relevance, listing variety, listing quality and likelihood of views or sales into its auto-bid strategy to try to generate maximum returns. It also sets a “click bid” that can fluctuate based on what your competitors are spending. Ultimately, you will only be charged when someone actually clicks on your ad. All impressions (or views) are free.
View real-time ad results like spend, views, clicks, revenue and order volume in the “Etsy Ads” tab. Adjust your daily budget, change your promoted products or stop Etsy onsite ads within this tab at any time.
WHAT ARE ETSY OFFSITE ADS
Offsite ads extend the reach of your listings to Etsy’s network of participating providers. These include social networks like Facebook, Pinterest and Instagram and search engines like Google or Bing.
This is a mandatory program for many larger shops, as you are required to participate if your shop generates $10,000 or more in sales within a 365-day period. You may be eligible to opt-out if you don’t meet that criterion.
With offsite ads, Etsy pays the upfront advertising costs to promote your listings and charges an advertising fee for sales generated from the ads. Expect a 15 percent fee if your shop generates less than $10,000 within a 365-day period or a 12-percent fee if your annual revenue totals more than $10,000.
Monitor your offsite ad data by clicking on the “Stats” tab under your Shop Manager. Then click “See more info on your Offsite Ads” to view various insights. For instance, you can view the number of clicks and orders generated by the ads, as well as sales, advertising fees and a breakdown of each transaction.
HOW TO USE SHOP-SPECIFIC PROMOTIONS
There are currently two main types of shop-specific promotions retailers can take advantage of–sales and coupons. While these aren’t considered to be true ads, you can use them to make your products more desirable for shoppers.
Click the Marketing tab within your Shop Manager to access “Sales and coupons.” Then click “+ New special offer” to get started.
Select “Run sale” to offer public discounts like free shipping or a certain percentage off your listing price. Set up the promotion you’d like to run and assign a date range, qualification parameters (e.g. purchasing a certain quantity) and specific terms and conditions for your sale. Apply the sale to a single product or multiple listings before you launch it.
Use one of the coupon options to offer shoppers a percentage discount, a fixed amount off or free standard shipping privately. Choose “Set up offer” to automatically send coupons to shoppers who have abandoned their cart or favorited one of your products to encourage them to complete the sale.
Click “Create coupon” to set up an offer you can share with select audiences. For instance, you can share it with your social media followers, send it out in your e-newsletter or send it to Etsy shoppers as a thank you. Of note, you are able to set specific parameters for your coupon and apply it to multiple listings.
View the results of your promotions, such as redemption rates, in the “Sales and coupons” tab from time to time.