Transitioning From Etsy: Is it time?
This is the question we ask ourselves at the end of each quarter to make sure we do not miss on the opportunity to pivot 100% to our own website. There is 3 basic analytics you need to look at when considering opening up your own e-commerce website: how much you pay in Etsy fees, where your traffic is coming from, and how much Etsy brings you in sales.
How much do you pay in Etsy Fees?
First, lets breakdown how to figure it out:
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Go to FINANCES on the left-hand menu
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Change date range to"ALL OF LAST YEAR"
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Look @ "fees+taxes"
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Minus the "taxes +shipping"
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Add rest of categories
This will show you just how much you are paying ETSY to host you. We paid over 5K in Etsy fees in 2020 and are over it! Our website costs us a little over $500 annually and includes so much more than what Etsy offers. This is the first sign that your business might not be making as much as you think and you could be putting more money back in your pocket by switching to a website.
How to figure out where your traffic comes from:
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Go to "STATS"
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See Breakdown
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Click each menu and figure out where the traffic is coming from
This will help you see how much of the work YOU do that brings in sales AKA Direct traffic, Social media, and Ads. If YOU bring in more traffic, this is a sign you might be ready to transition.
Do you know where to find out if Etsy brings you sales?
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Go to the "MARKETING" tab
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Click "SEARCH ANALYTICS BETA"
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Change timeframe to an entire year
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Compare numbers from "Visits to your shop from Etsy" + "Visits resulting in the sale"
This is where you will be able to see if Etsy is doing any work for you. If they haven’t brought you very many sales, again this is a sign that you can switch to your own website.
So, are you ready to take the next steps in moving your business forward? Be sure to tune into our IG stories every week for our Wellness Wednesday Club where we break down business basics for the handmade artisan.
See ya next week friends -
Sydney
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