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Crafty business mums – are you serious about boosting your income in 2012?
Whether you’ve dabbled on Etsy or are a fully-fledged handmade seller, here are five ways to make more money from your craft business in 2012.
1. Sell more, to existing customers
While most of us spend our time worrying about where to find new customers online, canny crafters know that marketing to existing customers is the easiest (and most cost-efficient) way to grow sales. Think about it this way – if they’ve bought from you in the past, you’ve already done the hard work of convincing them to hand-over their hard-earned cash (or card)! So if you don’t have a strategy for engaging and communicating with existing customers, now’s the time to get this ironed-out.
How will you let them know about new products and offers? What can you do to entice them to come back and buy from you again? This is particularly important if you’re selling through a marketplace like eBay or Etsy – customer loyalty is key!
2. Raise your prices
Are you charging enough for your products? Are you sure? Lots of handmade sellers under-value their work and don’t charge enough – which is bad for you, and can be confusing for your customers too! Under-pricing can make you look cheap, and make potential customers doubt the quality of your products.
Of course – before you can even start to think about pricing your products effectively, you need a clear strategy in place. Start by working out your current costs, then think about how to position your brand.
3. Get creative with your marketing
When was the last time you tried something new? It’s easy to get stuck in the comfort zone when it comes to marketing, but seriously – she who dares wins! Instead of channeling all your creative energy into making your products, set aside regular time for coming up with new marketing ideas this year.
Could you test new marketing channels that you haven’t tried out yet? Are you blogging, and using social media to their full advantage? Crucially, do you have an email list? What promotions and offers would work best for your customers, and turn browsers into buyers?
4. Launch a new product range
Launching a new product is a great way to attract attention, and doesn’t have to be as much work as it sounds! If you’re worried about finding the time to create a whole new range, could you update an existing product instead? Take a look at the trend projections for 2012, and see what ideas spring to mind.
Something as simple as offering an existing product in a new colour or style could be enough to get your product featured in magazines and blogs – provided you let them know about it, of course!
5. Explore new income streams
Aside from selling your handmade items online – what other income streams could you explore this year? Could you teach craft lessons or workshops? Sell your patterns? Self-publish a craft book, or license your illustrations via a stock photography service?
Exploring new revenue streams could be a great way to earn more money from your craft business in 2012, but also to have fun and try new things! And that’s what business should really be all about – wouldn’t you agree?
Claire is a marketing specialist with over ten year’s experience in online retail. She offers free tips and advice to creative women at Make, Do & Sell (www.makedoandsell.com), and is co-creator of the Handmade Horizons marketing e-course.
