In light of the Etsy strike, it’s important to discuss diversifying your sales and why having both an Etsy shop and an e-commerce website – as well as selling through social media marketplaces – is beneficial. Similar to having a marketing strategy outside of social media, you need to have multiple sales strategies for your online business. Let’s go over each so you are better informed on your options going forward!
Etsy Marketplace has a trustworthy reputation, and overall the platform is reliable. It is free and easy to set up, so you can get started selling right away! However, there are listing and selling fees, meaning when you add a product to your shop and when you sell a product, fees are incurred. Additionally, it lacks customizability, so you have limited brand awareness. You have a greater potential for reach and exposure, but the site is highly competitive, so it’s crucial that your SEO is spot on in order to be found.
An e-commerce website, such as WordPress or Shopify, takes time and money to set up and maintain, but it is fully customizable and you have more control over branding and shop policies. There’s no overhead on your individual products, just payments to register the domain name and keep your website up.
Similar to Etsy, social media marketplaces (Facebook Marketplace, Instagram Shopping, Google Shopping, etc.) are easy to sell on and easy to set up, especially if you already have an active audience there. However, competition is high and it’s easy to get lost in the abyss. Additionally, there are fees for each sale made.
Having an e-commerce site as well as selling in online marketplaces is beneficial because if one shop goes down, you have a backup option and can keep your business running. Or, in the case of Etsy, if fees increase more than you are comfortable with, you can pivot your strategy to focus on your e-commerce website and other marketplaces instead. Ultimately, it comes down to not having your eggs all in one basket and doing what works best for your business.
If you need help with your e-commerce website or have any questions about selling online, reach out to us today for more information.