Renewing is a vicious cycle that eats into your profit margin, so make sure you are keeping an eye on just what you are renewing all the time. I always build in 2 renewals of an item into the price of that piece. I then keep a spreadsheet with the item name, date listed and price I keep 2 blank colums where I add in the date of each renewal. If a piece sells before I get a chance to renew it both times, I toss that .20 or .40 into my advertising budget for the next month. .40 can go a long way on project wonderful ads and the like! I do not like to renew my items that are priced 8.00 and under. It just eats and eats away at these items profit totals! This is a short and sweet post because I don't want you devaluing your lower priced items!
When things get too lost in the mix, but are too inexpensive to renew or you have used up the allowance for renewals in your budget, FEATURE them. Change up the photos a bit, dust them off . Try and change your featured items on Etsy at least every week. It gives people a chance to see what's in the back without having to go through all the pages. I change mine up usually about once a week and sometimes every other day. If you have a blog try featuring them there too!
10 comments:
Great tips! I've made my fair share of renewing mistakes... but that spreadsheet idea is great!
Man... renewing can be difficult. I sometimes wonder if I should do it more often... but...
Great tips here!
Jen
Great ideas all of them, thank you:)
Very good tips! Thanks for sharing them! ;)
Great advice, thanks for sharing!
Very good suggestions!
Hi, Michelle!
I seldom renew, but do blog. My blog covers all my business, not just my Etsy store, so putting effort into my blog seems more practical (and cheaper) than renewing.
Thanks for stopping by!
Veru good tips! I will have to give these a try. Thanks for sharing!!
Ren
raghousenternational.etsy.com
interesting... I've never promoted on other sites...
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