Podcast Summary: Ep 150 | 20 Pro Tips for New Etsy Sellers

Podcast Information:

• Title: How to Sell Your Stuff on Etsy
• Host: Lizzie Smiley
• Episode: Ep 150 | 20 Pro Tips for New Etsy Sellers
• Release Date: October 10, 2024

Introduction

In Episode 150 of How to Sell Your Stuff on Etsy, host Lizzie Smiley dives deep into providing 20 actionable pro tips tailored specifically for new Etsy sellers. Drawing from her extensive experience managing multiple online businesses and a thriving Etsy shop, Lizzie aims to equip budding entrepreneurs with the mindset and skills essential for launching, growing, pivoting, or scaling their Etsy ventures.

Key Announcements and Updates

Before delving into the pro tips, Lizzie shares some exciting updates:

• Interview with Jenna Kutcher: Lizzie recently appeared on the Gold Digger Podcast with Jenna Kutcher, which aired earlier than expected. She expresses immense gratitude towards Jenna and invites listeners from that episode to join the Etsy community. (Timestamp: 00:57)

  "If you're here from the Gold Digger podcast, I just want to give you the biggest Lizzie smiley how to sell your stuff hug." – Lizzie Smiley

• New Etsy Course Launch: Lizzie announces the release of her new course, "Six Figure Secrets to Getting Started on Etsy," now available at a mega sale price. This course is designed for those curious about Etsy and eager to launch their shops swiftly.

• Weekly Trend Spotting Report: She introduces a weekly trend spotting report for subscribers, offering insights into current trends, product opportunities in print-on-demand and digital spaces, and strategies to capitalize on low-competition niches. A promotional discount code KEEP20 is provided for first-month access at a reduced rate of $17.

20 Pro Tips for New Etsy Sellers

Lizzie structures her episode by presenting 20 pro tips, each addressing common challenges and misconceptions faced by new Etsy entrepreneurs. Below is a comprehensive breakdown of these tips:

1. Start with an Etsy Shop Before Creating Your Own Website

Lizzie advises beginners to initiate their journey on Etsy rather than investing immediately in a personal website. Etsy’s established marketplace lowers the entry barrier by attracting traffic and customers, allowing sellers to focus on product positioning, demand analysis, listing optimization, and pricing.

"You start with an Etsy shop and eventually you may want to add your own website." – [Lizzie Smiley, 05:10]

2. Debunking the Saturation Myth on Etsy

Contrary to the belief that Etsy is oversaturated, Lizzie emphasizes that thousands of new shops thrive daily by leveraging trends and differentiating their offerings. She underscores the importance of staying updated with current trends to maintain a unique market position.

"The saturation concept is such a myth. There are thousands of new shops getting tons of sales every day." – [Lizzie Smiley, 07:45]

3. Time Commitment is Manageable

Many fear that succeeding on Etsy requires excessive time. Lizzie counters this by recommending consistent daily efforts, even if limited to 30 minutes a day, which can lead to substantial sales over time.

"You'd be better off starting now and giving it 30 minutes a day... than not starting at all." – [Lizzie Smiley, 10:20]

4. Overcoming the Fear of Judgment

Lizzie addresses concerns about judgment from friends or family, reassuring listeners that Etsy’s faceless nature allows them to build their shops without external scrutiny.

"Unlike me, your face and voice are not plastered all over the Internet. It's the original faceless online business." – [Lizzie Smiley, 14:30]

5. Understanding the Costs to Start an Etsy Shop

She breaks down the cost structure:

• $15 listing fee to open a shop.
• $0.20 per listing renewal every three months.
• Transaction Fees: Approximately 10% overall (including processing fees).

Lizzie recommends using tools like Profit Tree to manage and calculate these expenses efficiently.

"Assume whatever you're selling that 10% is going to go to the Etsy platform." – [Lizzie Smiley, 20:15]

6. Types of Products You Can Sell on Etsy

Lizzie outlines the categories of products suitable for Etsy:

• Crafting Supplies
• Handmade Goods
• Print on Demand (POD)
• Digital Products
• Vintage Items (20 years or older)
• Curated Collections

She warns against selling prohibited items and violating intellectual property rights.

"Ensure that whatever you sell does not violate anyone else's intellectual property." – [Lizzie Smiley, 24:50]

7. Importance of Shop Name and Branding

While shop names and branding are important, Lizzie advises not to overthink them. Choose something memorable and adaptable, as Etsy allows up to two shop name changes.

"Pick something cute and memorable but not too niche-specific." – [Lizzie Smiley, 30:05]

8. Optimizing Listings Over Shop Aesthetics

Customers primarily interact with individual listings rather than browsing the entire shop. Focus on creating compelling listings with attractive thumbnails and clear descriptions.

"Customers will experience your listings in the search results, not in your shop." – [Lizzie Smiley, 35:00]

9. Mastering SEO for Etsy

Etsy functions as a search engine marketplace. Effective SEO involves optimizing your titles, descriptions, and tags with relevant keywords that match customer search intent.

"Etsy is a marketplace that is a search engine. Your SEO needs to match what the customer would search." – [Lizzie Smiley, 39:20]

Tools Recommended:

• Sale Samurai
• Ever Bee

Lizzie also mentions her course, which delves deeper into SEO strategies.

10. Leveraging High-Quality Images

Visual appeal is paramount. High-quality images and a 15-second silent listing video can significantly enhance your listing's attractiveness and algorithm ranking.

"Images are critical. Your first impression is how your thumbnail looks." – [Lizzie Smiley, 43:10]

Lizzie suggests using Creative Fabrica for design elements and Midjourney for AI-generated images to enhance product visuals.

11. Learning from Competitors Without Copying

Study successful competitors to understand their pricing, SEO tactics, descriptions, and customer reviews. Use these insights to refine your own strategies without directly copying their offerings.

"Let your competitors be your teachers. Learn from what they do well and where they fall short." – [Lizzie Smiley, 51:35]

12. Avoid Overanalyzing and Focus on Listing Quantity

Instead of obsessing over early metrics, Lizzie encourages sellers to consistently add listings (aiming for 50-100 within 30 days) to give the Etsy algorithm time to recognize and rank your shop effectively.

"Get your listings up and give the algorithm time to sort you out." – [Lizzie Smiley, 55:10]

13. Embracing Imperfection to Promote Growth

Perfectionism can hinder progress. Lizzie promotes the mantra "Done is better than perfect," urging sellers to take actionable steps even if their initial efforts aren’t flawless.

"If you focus on being perfect, you're never going to start or grow." – [Lizzie Smiley, 58:25]

14. Consistency is Key

Consistency in adding new listings and maintaining activity on your Etsy shop is crucial for leveraging the platform’s algorithm, which favors active and regularly updated shops.

"Consistency is key. Keep adding listings to feed the algorithm." – [Lizzie Smiley, 01:00:10]

Lizzie shares her personal experience with TikTok, emphasizing how consistent efforts can lead to significant visibility and growth.

Conclusion

Lizzie wraps up the episode by reinforcing the importance of starting now, embracing consistency, and leveraging available resources to build a successful Etsy shop. She encourages listeners to engage with her new course for a deeper dive into Etsy selling strategies and announces an upcoming interview with Brittany Lewis, a print-on-demand expert, promising further valuable insights for listeners aiming to scale their Etsy businesses in Q4.

"If I can help you, I will bend over backwards to do so." – [Lizzie Smiley, 01:02:00]

Lizzie expresses her excitement and support for her audience, urging them to take actionable steps towards their Etsy success and to stay connected for future episodes filled with expert advice and inspiration.

Additional Resources

• Six Figure Secrets to Getting Started on Etsy: [Link in Show Notes]
• Profit Tree App: [Link in Show Notes]
• Sale Samurai & Ever Bee Tools: [Links in Show Notes]
• Creative Fabrica Membership: [Link and Coupon Code in Show Notes]
• Midjourney AI Tool Workshop: [Link in Show Notes]

Note: This summary captures the essence and key points of Lizzie Smiley's episode on providing 20 pro tips for new Etsy sellers. For a comprehensive understanding and personalized guidance, listening to the full episode and exploring the provided resources is recommended.