Honesty is the best policy: analysing and learning from sales data

What do you do when sales slow down? Is it normal? Is there something that can be done better? So these questions whizzed about my head as I have had a lull over the summer period in orders for soap and have been procrastinating from writing another blog until I had it figured out. I now have; there is no reason. 

But on this journey of small business set up, I analysed and then analysed again as to why. So as I over analysed and researched into businesses quiet times and why it happens, my husband, who has never been backwards in coming forward asked a simple series of questions.

Figuring it out

This is how the conversation went:

Husband: So how can people see all your products and buy them?

Me: Etsy, why?

Husband: Do people actually find your product there?

Me: Well I don't know, I get people buying stuff and favouriting the products and shop

Husband: Well that is what you should be looking at, if you don't know if people are seeing it how can you know that's not the problem? And by the way, don't you have a website when was the last time you updated that?

I had to concede at this point he had made two valid arguments that I did not have an answer for.

SEO

So his first point, can people see the products in Etsy. This comes down to a thing called SEO, (search engine optimisation), basically an algorithm that uses key words and phrases to get you to the top of search lists (even I am glazing over now!) 

I still do not get SEO and it is completely mind boggling to me. I understand the principal of it but you need to have a firm grasp on what words or phrases are going to shoot your product to the top of the search list. Now I went on a course that told me, in Etsy the key to being at the top of the search lists was to keep relisting regularly. Well, I do not have a money tree to keep pumping into Etsy, so I am taking it on the chin that my listings will not be top of the pile when it comes to Etsy.

Plan B

However, I was not giving up. My plan B (always have a plan B!) was to generate more traffic on my Instagram and Facebook pages which would hopefully direct people to our Etsy shop. I also did not want to give up on Etsy as a selling platform. (I know there is a huge debate about Etsy prices rising but my opinion is 'that's business, prices are going to rise'. It is not a huge rise but it is noticeable). Anyway I digress, on Instagram and Facebook I have been busy making sure we post at least one picture or status a day, it has definitely got me more followers, sales have been consistent. I have not seen a huge rise in sales but more importantly I have not seen them drop!

Those Ads

Now there is no magic wand that will miraculously make your followers turn into sales, I would be loving it if there was! I see all these ads that pop up saying pay for this course and you can make your first million in a year, sorry but 'yeah right'! Do not be naïve in thinking they have the answers; they do not - always remember you are the expert of your business, no one will know your business as well as you. Saying this there are many consultants out there that are genuine and do not proclaim to make you millionaires but to support and advise on setting up business - these are completely different to the make a million in a month ads on Facebook.

Some good advise from a consultant

I am in a number of groups which are consultants for product business and the best advise they have given me is 'know your strategy'.

Eugh, strategies, I know right? I am also one that does not like writing strategies, well a realistic one anyway, but having a strategy has proven useful, keeping us focussed on what we want to aim for, it doesn't have to be complex. I mean there is only me and my daughter here, so our points and aims are only seen by us, so it is simple. One of our strategies for this year was to be more involved locally in craft fairs etc for example.

Webpage

I have kind of tried to avoid this subject as I STILL have not updated our store on the webpage. It is on my to do list and I know it should be at the top of the list! Saying that I am trying to streamline things here, so there is a possibility our store will be linked to Etsy, rather than having two separate stores, it is still under investigation! 

Being honest with yourself

This, for me, is  one of the hardest parts. It was hard to admit that I was getting fewer sales after having many, but I know many are in the same shoes as me, and there will be many more who won't admit it. A lot of people give up at this stage, but the best thing you can do is keep going. Analyse your sales data, get to know your market better, do research, experiment and use any failures as learning for making your business better. 

What I have learnt so far

What I do know is I learn something new every day from fellow soapers, business owners and our own experiences. This particular experience has taught me to be more proactive on the business side, making sure things are always updated, always have a plan B and to work to your budget. Most importantly I have learnt to never to give up when things get difficult.