Etsy Exploratory 15 minute coaching session - Sweetspot Marketing Inc.

Book your Complimentary 15 minute coaching session with Sweetspot Marketing now.

Duration: 15 minutes
Date:
Time:
Continue
Name: *
Email: *
Work Phone:
Please complete this worksheet before our appointment. Regardless of what your product is, this planning sheet will help me understand exactly your situation, and the strategy needed to get there.

Name of your Etsy Shop (if you have one):
{"type":"text","name":"__generic","width":40,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}



Check off all the boxes that apply:

To promote my Etsy Shop I currently use:
{"type":"checkbox","name":"__generic","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please check at least one item.","options":"Facebook\nInstagram\nPinterest\nWebsite\nEtsy Ads\nLinkedin\nTik Tok\nAmazon\nEbay\nGoogle Ad Words\nInfluencers\nYoutube"}



Other ways you promote: {"type":"text","name":"__generic","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}


 Please take NO MORE THAN 5 MINUTES to answer the following 3 questions.  Just a quick brain dump to give us some direction for our call.

Can you please tell me a little bit about your Etsy Shop or Idea for an Etsy Shop?

{"type":"textarea","name":"__generic","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","height":80,"placeholder":""}


What would you like help with? What are your future plans for this Shop?

{"type":"textarea","name":"__generic","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","height":80,"placeholder":""}


Do you have any bestsellers in your Etsy Shop? If so, how many of them would you think to have a ratio of 25 views to one sale? 

{"type":"textarea","name":"__generic","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","height":80,"placeholder":""}


Please go to your Etsy Stats and enter how many views & sales over all time.
Also, how many listings are currently in your Shop & how many stars for reviews do you have & how many reviews?

{"type":"textarea","name":"__generic","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","height":80,"placeholder":""}


Have you worked with an Etsy coach before?
{"type":"radio","name":"__generic","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please make a selection for this item.","options":"Yes\nNo"}



A great way to plan out a strategy for your Etsy Shop is by viewing your Etsy Shop as one BIG product for sale (don't worry, this will soon make sense)

To determine your net profit (some call this seller's discretionary earnings (SDE), but let's not confuse you here...most people think of net profit as the profit they take home after all expenses), let's start by entering your Etsy shop information below:

Go to your Etsy Shop dashboard & enter your Revenue divided by sales here:
{"type":"text","name":"productprice","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":"Enter it here"}

 

Enter your percentage for Discounts:
%{"type":"text","name":"percentageoff","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}


Enter your Shipping price: (you can use an average here- don't forget to include your packaging)
${"type":"text","name":"shippingprice","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}

 

Enter your dollar amount for coupons or other freebies that you may include: 
${"type":"text","name":"couponamount","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}



Net Revenue per sale:
${"type":"computed","name":"netrevenue","width":20,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(productprice -% shippingprice-percentageoff-couponamount )","hidden":false}



Next, let's add up your cost of goods sold below:

Etsy transaction fee: (5%) (Based on payment processing fee of 4%+$.30 a listing fee of $.20 also applies.
%{"type":"computed","name":"etsytransactionfee","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(netrevenue *0.05 )","hidden":false}



Subtotal
${"type":"computed","name":"subtotal","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(netrevenue - etsytransactionfee)","hidden":false}


Enter average Etsy Ads cost per sale: (Go to your Etsy Ads, next go to "all time", next divide the total views by the sales to get your average Etsy Ads cost per sale)
${"type":"text","name":"etsyadscost","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}


Etsy renewal fee- (currently it's $.20)
${"type":"text","name":"etsyrenewalfee","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}


Payment processing fee: (currently it's $.30)
${"type":"text","name":"materialcost2","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}


Enter your material cost: (cost of your product) 
${"type":"text","name":"materialcost3","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}



Enter your labor costs (Nobody works for free:) A good rule of thumb is to mark the local minimum hourly wage as your labor cost. For example, if it cost you $10/hour to hire someone, & it takes approx. 15 minutes to make the product, package & handle it, then use $2.50
${"type":"text","name":"materialcost","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}



Total Cost of Goods sold:
${"type":"computed","name":"costofgoodssold","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(etsyadscost + etsyrenewalfee + materialcost2 + materialcost + materialcost3 )","hidden":false}



Net Profit:
${"type":"computed","name":"netprofit2","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(subtotal -costofgoodssold )","hidden":false}



Here's your Net Profit percentage: (Average Net Profits should be at least somewhere between 10-20%) Net Profit percentages that exceed 40% are considered to be an outstanding Etsy business!
%{"type":"computed","name":"netprofitpercentage","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(netprofit2 / netrevenue *100)","hidden":false}



What percentage of your Net Profit are you willing to spend on Etsy Ads or other advertising to bring in more sales? (This is the most important number to understand) If you are willing to spend 100%, then obviously you will be working for minimum wage:() A common standard used for many businesses is 5-10%. Ecommerce platforms like Etsy may have a slightly higher percentage spend in the range of 5-20%)
NOTE: Before you enter a number here, make sure that you first reduce the "Enter average Etsy Ads cost per sale" to 0 first. Next, after you have entered your number, you can go ahead and restore the "Etsy Ads cost per sale". 
{"type":"text","name":"etsyadspecentagespend","width":15,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}

        

%{"type":"computed","name":"amountimgoingtospendonetsyads","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"((netprofitpercentage * etsyadspecentagespend )/100)","hidden":false}

This is the % of your Net Profit to spend per product sale on Etsy ads

${"type":"computed","name":"dailyetsyadspend","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"netprofit2 * amountimgoingtospendonetsyads /100","hidden":false}

 Daily Etsy Ad spend budget maximum(or another ad spending)

${"type":"computed","name":"monthlyetsyadspend","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"dailyetsyadspend * 30","hidden":false}

Monthly Etsy Ad spend budget maximum (or another ad spending)
(Enter this number into your training program metric)

Now it's time to create your new goals for this training program:

What is your income goal for the month? (We use net profit here)
${"type":"text","name":"netprofitgoal","width":15,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}

 (Enter this number into your training program metric)

Total Sales you will need to reach this goal : (1 sale = 1 product eg. someone may purchase 1 sale that includes 3 products- this would count as 3 purchases)
{"type":"computed","name":"monthlysalesgoal","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(netprofitgoal / (netprofit2-dailyetsyadspend))","hidden":false}



Enter average views needed to sell one of your products: (Go to your shop manager in your Etsy Shop>Stats>Select "All Time"...next, divide the total views by the sales and enter this number here:
{"type":"text","name":"averageviews","width":15,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}


Monthly views you need to reach your goal:
{"type":"computed","name":"monthlyviewsneeded","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(monthlysalesgoal * averageviews )","hidden":false}

(Enter this number into your training program metric)

Daily views you need to reach your goal:
{"type":"computed","name":"__generic3","width":15,"value":"","size":"Normal","validation":null,"validationMessage":null,"formula":"(monthlyviewsneeded /30)","hidden":false}


Rate your shop by clicking the checkbox that applies:
25/1 views/sales or higher : Congratulations! Your Etsy shop is a best selling shop! Rule of thumb: Never change an individual listing that has a ratio of 25/1 views/sales {"type":"checkbox","name":"__generic4","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please check at least one item.","options":""}

25/1-50/1 views/sales; Good job, improvement is likely though
{"type":"checkbox","name":"__generic5","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please check at least one item.","options":""}


51/1-100/1 views/sales Not bad, but you can do better
{"type":"checkbox","name":"__generic6","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please check at least one item.","options":""}


101/1 + You can probably make many improvements if your pricing for products is under $5000/each
{"type":"checkbox","name":"__generic7","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please check at least one item.","options":""}



What date would you like to reach your daily views by?
{"type":"text","name":"__generic8","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}



How many hours daily are you willing to invest in growing your Etsy Shop?
{"type":"text","name":"__generic9","width":20,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}



What ideas are you especially wanting to focus on to build your Etsy shop:
{"type":"text","name":"__generic10","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please fill in this item.","placeholder":""}



Save this worksheet as you need some of these numbers to enter into your training program metrics sheet. (You will be prompted to enter these numbers in the other worksheet under your "worksheet" tab.

Once you understand how to fix it, what would you like to do? (We review this sheet together in our first coaching session if you are signed up for coaching- if you are not signed up for coaching, it's still good for you to complete this since you are committing to a course of actions that will lead you to success.)



 I'll do the work myselfI would like to be trainedLet's fix it togetherI'm going to find my own freelancer on fivver.com, or Upwork.com, or somewhere else (if you have any tips on hiring a freelancer- please do share){"type":"select","name":"__generic","width":50,"value":"","size":"Normal","validation":"","validationMessage":"Please check at least one item.","options":"I'll do the work myself\nI would like to be trained\nLet's fix it together\nI'm going to find my own freelancer on fivver.com, or Upwork.com, or somewhere else (if you have any tips on hiring a freelancer- please do share)"}


Are you prepared to invest in coaching to help you with your Shop now?
{"type":"radio","name":"__generic","width":100,"value":"","size":"Normal","validation":"","validationMessage":"Please make a selection for this item.","options":"Yes\nNo"}