3 Easy Ways To Earn More Money With Your ETSY STORE

What Almost Every ETSY Seller Doesn't Realise

The competition for sales on Etsy is fierce. In 2024, the number of Etsy's active sellers surpassed nine million, meaning that your Etsy business will be going up against millions of other sellers hoping to attract and convert new customers.

For every sale, Etsy takes a £0.20 listing fee, a 6.5% transaction fee that applies to what you charge for the item, as well as shipping and gift wrapping, and a payment processing fee. With some sales, Etsy takes a 2.5% currency conversion fee and an Etsy Ads fee.

Here’s a more detailed snapshot of how much Etsy takes per sale in 2024:

  • Listing Fees: £0.20 per listing (listings count as one item or multiple quantities of one item)
  • Transaction Fees: 6.5% of the amount you charge for an item
  • Shipping & Gift Wrapping Fees: 6.5% of the amount you charge for shipping and gift wrapping
  • Etsy Payment Processing Fees: 3% of the transaction price plus £0.25 per transaction
  • Currency Conversion Fees: 2.5% of the sale amount
  • Etsy Platform Ad Fees: You choose your budget
  • Etsy Offsite Ad Fees: 12-15% of the sale price of items bought because a user clicked on an offsite ad
  • Etsy may also charge fees if you sell items from your online store in person and monthly fees for subscription plans. You could also pay £12/month for an Etsy Pattern website.

    If you are intrigued by how much you are spending on Etsy fees alone per month contact us here and we will work it out for you free of charge!

    Spread Awareness Without Spending A Penny

    In the past several years, social media has become one of the most important avenues for business marketing. In 2023, approximately two-thirds of online shoppers used social media platforms as a means of finding and evaluating products before making a purchase. As an Etsy seller, you have a lot to gain by capitalising on the advertising opportunities available on apps like Facebook, TikTok, Twitter, and Instagram.

    Although every brand has to develop its own voice on social media, these are the best tips for getting started:

      • Run targeted paid ads to attract potential customers
      • Consistently post updates, photographs, and commentary about your business
      • Engage with followers who comment on your posts or tag your shop name
      • Understand the demographics of your target audience and tailor your social media content to their interests and needs

            In combination with other marketing materials, including emails and paid ads on Google, your social media posts, comments, and videos help keep customers engaged, interested, and aware of what your business has to offer and what's coming next.

            The various ways you're perceived by the public is your brand. A strong brand image helps differentiate your business from the competition. If you can establish a positive impression among your audience, attracting leads and retaining existing customers will become easier over time.

            The Key To Unlocking New Growth Avenues

            Etsy offers a built-in customer base, an easy platform for setting up a new business, and a well-known name to associate with your brand. However, if you sell your products exclusively on an Etsy shop, you might be depriving yourself of a massive opportunity for growth.

            Expanding to additional platforms like Amazon and Ebay helps broaden your reach to customers who don't frequently shop on Etsy. Many artists and Etsy sellers use multiple platforms to reach the widest possible audience and sell the greatest number of items. 

            For example, selling on eBay is very simple and easy to list items. You can also duplicate product listings which is a convenient feature of the service. eBay's listing manager makes selling your items efficient and straightforward.

            eBay is a marketplace that gives sellers access to millions of potential customers. According to Statista, eBay reached 132 million active users in the first quarter of 2024, meaning that products can be viewed and purchased by a staggering number of consumers. eBay will display your listings to customers all over the world. This therefore makes eBay a great marketplace to sell products that may not be available in all countries, as well as allowing you to expand your product popularity internationally.

            Tools like Google AdWords or advertising on Facebook give you the power to reach customers with much more accuracy and reliability than with traditional offline advertising methods. SEO and online advertising are a great way to help build up awareness, if it’s done correctly traffic to your website can see an increase. Be the first company that a potential new customer sees when searching for a specific product or service online, and use your website's contact page or e-commerce features to make purchasing a product or finding a retail outlet easier than ever before.

            The Most Important Step For Your Business

            Today, having a company website is as crucial as having a shop, office or telephone number. Research has found that 7/10 customers expect brands to have content online about their business.

            If you don’t have a website it is highly likely that your competitor will do, this means that you are missing out on gaining new customers and can be in the forefront of their minds. It is crucial that no opportunities are missed and are gained by the competition.

            Although many of your ideal customers might visit Etsy on a regular basis, others might prefer an independent store with a customised front page and a more personalised shopping experience. Operating a store on other selling platforms, in addition to your Etsy shop, is an effective strategy to increase your profits and grow your overall business.

            Potential customers would likely be distrusting of any business that didn't have a telephone number or a physical address, and the same can be said for not having a website and email address. These are useful tools to share crucial information about your business with customers and answer all the What’s and Why’s that they may have. What’s more, having a good quality, easy-to-use website makes customers feel comfortable using your services, as they will assume they can expect the same positive experience in all areas of your business.

            If your site is well-designed, the media tends to take you more seriously on your own site than on Etsy. That first part is a key caveat here, and it only really happens if your site shows that you’ve put time and effort into branding and design—far more than if you just entered information and uploaded a few pictures to Etsy. That won’t happen if your eCommerce site looks shoddily-made or outdated, in which case you might as well just do Etsy. For similar reasons, your own eCommerce site can be better for customer referrals, as there’s less brand confusion and customers have an easier time remembering your personal URL than that of your Etsy store.

            One of the main benefits of expanding beyond etsy and creating your own website is the lower fees that are incurred. While Etsy charges listing, transaction and payment processing fees, running your own website (e.g. through platforms like Shopify or Wix) often leads to lower costs all round. The long-term cost savings will be huge and will only get better as your sales grow. 

            Although the starting up fees might scare you off you must remember It’s not a cost, it's an investment, it's only a cost if you don't know what you’re doing. In that case the next best move for you might be to visit HandSetup for a free website consultation.

            What To Do Now?

            Websites are used by every single big company, if you don’t have one in 2024 you’re missing out Big Time. Millions are spent on them by all companies across the world. Using the advice in this guide will allow you to start expanding your Etsy business and avoid unnecessary fees.

            If you want me to take a look at your account and what I could do for your business, get in touch with me here.

            No other website company guarantees money back if you’re not satisfied. We’re so confident we can meet any needs you may have that we have a simple guarantee.

            So if you’d like to know what we’d be able to do for you, get in touch and let’s have a talk! No obligation and it won’t cost you anything.

             

            Talk soon,

            Reece Thomas - HandSetup.

            Back to blog