32. The Power of Niche Markets: How to Build a Million Dollar Etsy Brand

"I spent $5,000 to get a thousand units. So five bucks a piece. And from there, I ran a promotion. I spent a thousand dollars for them to run an email to their list of people that wanted to get deals. And then I ran a 50% off deal, which I made no money. And I made, I think we sold like maybe 200, 250 units because that's all I wanted to sell because I said, I'll do 200, 250 units. So I lost money. But what that did was it shot me up in the rankings. And then that went on to do $300,000." - Scott Scott Volker for a discussion on brand building and the importance of thinking long-term in the Etsy business. Scott, an experienced educator and brand builder, shares valuable insights and strategies for Etsy sellers who want to take their business to the next level. They emphasize the need to choose a niche and focus on building products for a specific target audience. By doing so, sellers can increase their chances of repeat customers and higher average order values. They also discuss the importance of running Etsy ads, building an email list, and diversifying traffic sources. Scott shares success stories of sellers who have leveraged platforms like YouTube to drive traffic to their Etsy shops and achieve impressive sales numbers. Overall, this episode provides practical advice and a fresh perspective on building a successful Etsy business.The Etsy Seller Podcast is hosted by Cody McGuffie, CEO and founder of EverBee. In each weekly episode of this podcast, you’ll hear from experienced Etsy Sellers on how they run their Etsy business, how they got their first sales on Etsy, how they market their Etsy shops and so much more.EverBee is a Etsy product analytics tool that helps Etsy sellers find best selling products and keywords so they can sell more on Etsy. It helps Etsy sellers speed up product research and product discovery so they can get their first Etsy sales and grow their business.Sign up for EverBee for free at the link - https://everbee.ioTimestamps with key takeaways:[00:03:01] Etsy community and brand building.[00:06:10] Protecting your revenue stream.[00:09:18] Selling more to existing customers.[00:12:33] Targeting niche customers for growth.[00:16:03] Building a brand gets confusing.[00:19:05] Getting products with high demand.[00:23:10] Mindset and investing in your business.[00:26:40] It all compounds.[00:31:02] Leveraging YouTube for Etsy success.[00:32:02] Diversifying income through targeted niche.[00:35:05] Product launch on Etsy.[00:39:38] Solving the problem of gift-giving.[00:41:00] Vision for an Etsy shop.[00:46:11] Sales channel strategies.[00:47:33] Revenue streams.[00:51:14] Building a traffic source.[00:54:00] Beach volleyball in Texas.Entities mentioned:ecommerce, Etsy seller, brand building, asset building, online business, growth, Etsy community, Everbee, Etsy business tool, Etsy shop, niche, target market, repeat customers, average order value, Etsy ads, conversion rate, email list, website, YouTube, influencers, sales, marketing, business mindset, startup money, failure, success, education, grind, woodworking, digital plans, YouTube channel, ad revenue, Amazon affiliate, woodworkers, passionate hobbyists, traffic, sales velocity.