Getting to that level wasn’t easy or quick, but there were some ways to skip ahead of the line: better SEO and utilizing Etsy’s Promoted Listings feature.
I know what you’re thinking: it’s an Etsy double dip. First you pay them to list, then you pay them to promote it, then you pay them when it sells. Let’s just start paying them to breathe, too, while we’re at it! To me, promoted listings are a necessary evil, especially because most of my things are one-offs, so I don’t have the luxury of building long term rank increases or getting “bestseller” badges on my listings.
However, the cost of promoted listings has more than paid for itself:
So how do I best utilize promoted listings?
- Do not allow the automatic bidding
I have two main categories for Meve: home decor (slightly competitive) and jewelry (uber competitive), yet Etsy usually recommends a bid of .18 per click. For the holiday season, I will get close to this: my normal bid is around .10/click, but for December I’ve increased jewelry to .17/click to test.
2. Set a small daily limit to start and test
Throughout most of the year, my daily budget is $15 and I’ve found this to be a sweet spot. I know folks who drop 10x that per day and are bringing in $40k/month in sales, and I think that if I were more serious about this I would increase my budget accordingly, but since it’s mostly to save cool looking stuff from the trash, I keep it low and manageable to where I need <1 sale per day to cover the costs. For December, I’ve increased the budget to $35 per day, and $50 per day for the weekends before Christmas.
3. Keep track and don’t let it run on its own
Since most of my inventory is one-off, I keep a close eye on how much it costs to promote each listing. I’ll spend around 10% of the cost on promoted listings then shut it off and tweak my SEO. I also don’t promote clearance items or lower-priced pieces as it’s too hard to absorb the additional costs.
How should you utilize Etsy Promoted Listings?
To use them effectively, you have to know yours costs like nobody’s business (shout out to PRICR for helping me with this) and know what sort of budget you can comfortably spend. Of course, right now you’re thinking “yeah but do I REALLY need to use them?”
Look, I don’t like it either, but when you treat your business like a business, you know that time or money needs to be dropped in order to push ahead. If you want to take less time to turn a profit you’ll need to invest in your advertising and marketing and it’s way cheaper to do this via Etsy than it is on Instagram, Pinterest, Facebook, or especially Google.