Boosting sales for your Etsy shop is a lot simpler and much more straightforward when you begin to understand the power of discounts (especially when you use them strategically). Look, there isn’t anyone on the planet that doesn’t love getting the chance to buy something they were already interested in for less than it is originally advertised – and when you really unlock the power of discounts to promote your Etsy shop, you can create a tremendous flood of sales that may not have been possible otherwise.
At the same time, you can’t just throw discounts out and hope that they will turn your sales numbers around immediately. When you use discounts willy-nilly like that you dramatically discount the overall value of your shop and your brand – to the point where you kill off your customer base and they only buy your merchandise when there are discounts available.
Armed with the inside information below you are going to be able to unleash the hidden power of discounts to really skyrocket your Etsy shop sales, and sometimes you can do so overnight. Use the details that we are able to share with you below and you’ll be sure to really hit the ground running!
Let’s dive right in.
Tips for promoting your Etsy shop with discounts
Offer discounts to those that register for your email program
The most important thing you can do as in Etsy shop owner is capture the information of your potential customers as quickly and as efficiently as you’re able to, and email is the best approach right now.
By trading a discount for contact information you’re really “purchasing” new customers at a fraction of the cost it would have run you if you only used paid advertising and marketing approaches. A 10% off discount might cut into your profit a little bit, but depending upon what your marketing and advertising costs are that’s likely a drop in the bucket comparatively.
Offer discounts for immediate new purchases
Upselling is the practice of offering something for sale at a discount immediately after a customer purchases something from you, and is a practice that ALL of the major online retailers as well as smart and savvy marketers on Etsy take advantage of – and is a strategy that you are going to want to start rocking and rolling with ASAP.
The most challenging battle you’re going to have to win as a business owner is convincing a complete and total stranger to pull out their wallet, write down their credit card information, and then purchase something from you over the Internet – all without having any contact with you or physically holding your Etsy goods in their hands.
That’s asking a lot of a total stranger!
But after you have taken care of all that “heavy lifting” and convinced them to become a customer of yours is the perfect time to ask them to purchase something else. Offer a discount on related items from what they have purchased from your Etsy shop immediately (and, ideally, make that coupon time sensitive – something we are going to touch on in just a moment) and you’ll be able to boost your transactional value dramatically and start making a lot of extra “free money”.
Always – ALWAYS – have time limits on your discount codes
Scarcity is one of the most powerful motivators when it comes to selling merchandise, on Etsy or anywhere else.
Take advantage of the psychological principle of scarcity by offering time sensitive discounts to all of your customers, to your best customers, or to your prospects (or all of the above). Make sure that the deadline is up front and center, relatively close enough to spur action ASAP, and also really harp on the fact that once the discount is going it is gone for good.
We would recommend that Etsy shops honor their discount deadlines like a rule that has been poured in concrete, if only because you want to make sure that your customers know that you are authentic and that you aren’t pulling some kind of bait and switch with them. But if you are willing to work with customers and accept expired coupons the way that Bed, Bath and Beyond does, for example, that’s completely up to you!