How Etsy Sellers analyze Etsy stats to improve their sales?
Are you tired of the 9-to-5 grind and finally decided that you want to create something of your own on Etsy? Are you determined to run your Etsy business seriously and hit that 6 figures per month goal?
If yes, you are in the right place. As an ex-Etsy seller and someone who has invested $10,000 into Etsy courses, I will be revealing how top Etsy sellers use Etsy analytics to their advantage.
This article will introduce how you can analyze Etsy stats including where to find Etsy Seller Stats in Etsy Shop Manager, and going through 8 Etsy analysis case studies you can run right away.
This post highlights 8 ways to analyze Etsy Stats.
Etsy Stats Explained
Before we get into the juicy stuff, let’s get you familiarised with where you can export data from Etsy Shop Manager.
First, navigate to Stats.
- By adjusting the time period, you will be able to extract monthly data such as Visits, Orders, Conversion rate, and Revenue.
- Other than these, you can also extract Visits in the ‘How shoppers found you’ section.
- Click on the ‘Social media’ dropdown to unlock Visits data from individual social media platforms.
Next, click on any of the traffic sources under ‘How shoppers found you’.
- This is where you can find more stats for that specific traffic source such as Visits over time, Most visited listings, search terms, and traffic source breakdown.
For your Etsy Ads Stats, navigate to Marketing > Etsy Ads.
- Here, you will be able to get Ads data including Ad Orders, As views, and Ad clicks.
If you want to work on your keywords to rank high on Etsy, you can navigate to Marketing > Search Analytics.
- This is where you will find Etsy keywords.
- By clicking ‘filter columns’, you will find that there are many metrics you can add to analyze your search queries such as Impressions, Position, Visits, Conversion rate, Revenue, Listings, Visits per impression, Orders, and Average order value.
Lastly, to get your actual profits data, navigate to Finances > Monthly statement.
- You will be able to get data on the breakdown of fees and seller services that were deducted from your revenue.
- This is also where you know the actual profit that is wired to your bank account.
Resource for you: Etsy Shop Stats Glossary
Etsy Analysis
In this section, we will explore how we can utilize these Etsy data and turn them into actionable insights through key case studies. These simplified examples will help you understand the data needed and its impact on sales improvement.
Case Study 1: Boosting Profitability with ASP and AOV Analysis
Objective: Understand pricing strategy dynamics.
Solution: Analyze Average Selling Price (ASP) and Average Order Value (AOV) trends.
Outcome: Determine customer price sensitivity and product popularity.
Raw Data Needed: Total Orders, Total Revenue, Total Products Sold
By examining ASP and AOV trends, you can identify whether customers prefer higher-priced items or smaller, more frequent purchases. This insight helps in adjusting pricing strategies and optimizing product offerings.
Case Study 2: Maximizing Marketing ROI
Objective: Assess profitability of marketing investments.
Solution: Evaluate Return on Investment (ROI).
Outcome: Identify effective marketing channels and strategies.
Raw Data Needed: Total revenue, Total Cost, Actual Profit
Analyzing ROI helps you understand the profitability of your marketing efforts. This data allows you to allocate your budget more effectively, focusing on strategies that yield higher returns.
Case Study 3: Driving Traffic Through Optimized Listings
Objective: Correlate product listings with customer visits.
Solution: Examine the number of listings and visits.
Outcome: Optimize listing strategies to increase traffic.
Raw Data Needed: Number of Listings, Visits
By comparing the number of listings with visits, you can identify which listing strategies drive the most traffic, enabling you to prioritize efforts that boost visibility and engagement.
Case Study 4: Increasing Conversions with Page Enhancements
Objective: Evaluate product page effectiveness.
Solution: Analyze Conversion Rate (CR).
Outcome: Improve product page elements for higher conversions.
Raw Data Needed: Orders, Visits
Monitoring CR helps you pinpoint areas for improvement on your product pages, such as thumbnail images or descriptions, so you can create high-conversion images to improve your sales.
Case Study 5: Optimizing Marketing Channel Investments
Objective: Analyze effectiveness of different marketing channels.
Solution: Break down visits by traffic source.
Outcome: Optimize marketing spend across channels.
Raw Data Needed: Visits by Traffic Source
Understanding which marketing channels drive the most visits helps you allocate resources effectively, ensuring maximum impact from your marketing efforts.
Case Study 6: Amplifying Social Media Impact
Objective: Measure the impact of social media on visits.
Solution: Track visits from social media platforms.
Outcome: Focus on high-performing social media strategies.
Raw Data Needed: Social Media Visits (e.g., Facebook, Instagram, Pinterest)
Tracking visits from social media platforms enables you to refine your social media strategy, focusing on content that resonates most with your audience.
Case Study 7: Improving Sales with Effective Thumbnails and Pages
Objective: Evaluate the effectiveness of thumbnail images and product pages.
Solution: Analyze Click-Through Rate (CTR) and Click-to-Order (C2O).
Outcome: Optimize images and descriptions to boost sales.
Raw Data Needed: Ad clicks, Ad views, Ad Orders
High CTR but low C2O indicates a need for better product page content. Optimizing images and descriptions can lead to higher conversions.
Case Study 8: Improving Ad Spend Efficiency
Objective: Evaluate the effectiveness of Etsy Ads spend.
Solution: Analyze Return on Ad Spend (ROAS).
Outcome: Maximize ad spend efficiency.
Raw Data Needed: Ad Orders, Ad Spend
Analyzing ROAS helps determine the effectiveness of your ad spend. Reallocating the budget from underperforming ads to more profitable channels can improve overall returns.
If you have read till the end, I know you are serious about your Etsy shop and growing it to 6 figures per month. To help you with your journey, I have personally created an interactive Excel dashboard where you can track all of Etsy sales stats and run these Etsy analyses instantly to improve your sales. You can download it here.
This post highlights 8 ways to analyze Etsy Stats to improve your sales.
If you love to see more content like this, connect & follow me on social media to stay updated with the latest information.
Other posts you may like:
- What Etsy Sellers Should Know about Etsy Fees (for digital products only)
- 11 Fast & Easy Steps to upload digital files to Etsy
- How to optimise your Etsy Listing for Digital Products?
Interactive Etsy Excel Template
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