Why research is key to your Etsy business
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Starting an Etsy shop can be really exciting, especially when you’ve got a product idea that you’re pumped about. But before you jump in, it’s important to make sure your product has the potential to be successful. This is where research comes in. Without it, even the best ideas might not take off, and you could be left wondering why your sales aren’t happening.
Is there a market for your product?
The first thing you need to figure out is whether people are actually looking for a product like yours. If no one is searching for what you’re selling, it’s going to be tough to make sales. Research helps you understand if there’s a demand for your product, which is essential for your business to succeed.
One way to research if a product can sell is to use the Keyword Explorer tool in Listadum. Search for the keyword that best describe the product you want to make and have a look to the market saturation graph:
If you keyword lands in green, fantastic! You found a niche with good demand and low competition. Yellow is more questionable, there might not be enough demand to justify making the product or there might be too much competition satisfying the demand and it will be really difficult to rank on these keywords. Red obviously is not great, not enough demand and way too much competition is the recipe for a failed product, you should pass and go back to the drawing board!
Can you make a profit?
Another important part of research is figuring out how much people would be willing to pay for your product. You also need to consider how much it costs you to make, including shipping and Etsy fees. If your costs are too high compared to what customers are willing to pay, your business might not be profitable.
Avoiding common pitfalls
Sometimes, we think we have a great idea for a product, so we make it and list it on Etsy, only to be disappointed by the lack of sales. Other times, we create beautiful artwork that might infringe on someone else’s intellectual property (IP), leading to our Etsy shop getting shut down. These are both examples of what can happen when you don’t do enough research.
The role of SEO
Chances are, there is a demand for your product. But your success on Etsy depends on getting the right people to find your listings. This is where SEO (Search Engine Optimization) comes in, which is another important part of research. By using the right keywords and optimizing your listings, you can improve your chances of showing up in search results and making sales.
Once more, the Keyword Explorer tool in Listadum is the perfect tool to help you find the best keywords for your listing. Start by typing the tag that best describes your product and go from there:
- explore the similar, linked, and related keywords to find more keyword ideas
- use your 13 available tags
- avoid using single-word tags to maximize your character utilization
- avoid repeating words and get a diverse set of words to rank on more potential buyers searches
In short, research is the foundation of a successful Etsy business. It helps you understand the market, price your products right, and avoid common mistakes. So, before you start selling, make sure you’ve done your homework!