Your progress in your Etsy shop journey can be tracked by your use of statistics. In fact, the stats that you pay attention to vary at different stages of your Etsy journey.
When you first launched your shop, were you obsessed with the numbers, or did you ignore them like me?
Being obsessed with the numbers is great if you know how to make them work for you.
And getting into a routine of reviewing the figures is essential to make sure you grow your business effectively.
If on the other hand, you ignore them, then let’s just say DON’T! It won’t get you anywhere.
Statistics are there to help you to make the most of your business. If used correctly, they will be able to pinpoint where you are going wrong, or what you are doing right. Knowing this lets you spend your precious time working on what works rather than what doesn’t.
If you have had the initial excitement of making a sale, or maybe you are still waiting. Here is a list of statistics that you need to start looking at TODAY so that you can make your business truly bloom.
Statistic 1 – Number of Views/Visits
Getting your items in front of people is the number 1 factor that will determine the success of your shop. If people don’t see you, then you can’t make sales – simple!
Getting as many Views or Visits as you can is your first goal when setting up your Etsy shop.
You can find your Views and Visits from your Etsy Shop Dashboard:
At the moment, the only place you can find your Views is from the Dashboard.
Why your Views/Visits matter
The Views figure is the number of people who have viewed your shop that day, or whatever period you are looking at. It is NOT the number of unique visitors. So the figure could include people who started looking at one item then moved on to look at another.
In the above screenshot, 3533 listings were viewed. It does not mean that I got 3533 different people in my shop.
The Visits figure is Etsy’s attempt at showing you the unique number of visitors you have. This can also be found on your Etsy Shop statistics page.
If you want a better representation of your unique visits, make sure you set up google analytics for your shop. Here is an article from Etsy telling you how.
These statistics are the first ones that you should start to track because they show whether your SEO is working.
If your Views/Visits are virtually non existent then you have to work on your SEO to try get yourself seen by more people.
If your Views figure is much bigger than your Visits figure, this means that people are looking at many listings in your shop, which is excellent news! This is a sign that they like what you are offering.
If your Views and Visits figures are similar, you have got a problem. It shows that there is something about your shop or your listings that is putting potential customers off.
What should I be looking for with my Views and Visits figures
Although the number of Views and Visits you get will depend on your target market, product or niche, you should initially be aiming for an average of about 1000 views a day. As a rule of thumb, your number of Visits should equate to at least 50% of this, i.e. 500 Visits.
These are general figures to use as a starting point. But really you want both of these numbers to be as high as possible. The more people who View and Visit your shop, the higher chance you have of making a sale.
What to do to improve your Views/Visits
High Visit/View figures indicate one of two things. Either:
- your SEO is working great, and Etsy is placing you in a high position in their search results, or
- you are driving a lot of traffic to your shop from external sources.
You should be working on both of these to up your Views and Visits numbers.
If you see a sudden drop in your Views/Visits, then you need to take action as quickly as you can to try to resolve it.
Statistic 2 – Conversion Rate
Once you have got a good picture of your Views and Visits, it’s time to up your game.
The next statistic that you should track is your Conversion Rate. I explain it in detail here.
If you do nothing else, this is the rate you should track closely.
Etsy does the calculation for your whole shop on your Etsy Shop Statistics page.
This is the percentage of people who buy something from you after they visit your shop. The calculation is:
Conversion Rate = (number of orders / number of visits ) x100
You can find the figures to use on your Etsy Shop Dashboard or Etsy Shop Statistics page.
Ideally, use the number of unique visitors obtained from Google Analytics, rather than the Etsy visits.
Why your conversion rate matters
Knowing whether your shop or specific listings can make sales is essential for you to know as a seller.
If your conversion rate is lower than your target, that gives you a clue on what you need to work on to improve your position.
A low conversion rate means people are finding you but don’t like what you have to offer enough to make a purchase.
If your conversion rate is higher than your target, you know your product sells once someone sees it. Your key takeaway from this is that you need to increase the number of Views to increase your sales.
What is the conversion rate target
If you’re using your Google Analytics unique visitors data, your target conversion rate should be around 3%.
If you’re using Etsy visits rather than google data, your conversion rate target is about 1.1%. This is lower than using Google Analytics because you are not tracking UNIQUE VISITS, but don’t worry the smaller target accounts for that.
How to improve your conversion rate
Again, many ideas to improve your conversion rate are covered here.
On the whole, you need to improve your listings to make them more attractive to your potential buyers.
If your rate has suddenly dipped, check whether your competition has changed, or whether your listing is still on-trend and relevant.
Finally, avoid spammy visits. What I mean by this is,
don’t encourage people to go to your shop if they have no intention of buying.
So don’t join the Etsy groups and teams that offer to favourite each others shop. Etsy recognises this as spam and penalises you. It’s not worth the time and effort.
Statistic 3 – Traffic Sources
Your traffic sources are the different routes each visitor is taking to find you.
You should try and have as many different traffic sources to your shop as you can. This makes you more resilient to changes you can’t control. It is unlikely that ALL sources will be affected at the SAME TIME.
If you look at your stats page, there is a section on ‘How shoppers found you’.
This is your traffic source data. You can also find them in google analytics. Etsy is easier to use for internal Etsy figures. But Google Analytics audience figures might help breakdown external traffic sources to Etsy better, i.e. social media, etc.
Why your traffic sources matter
Knowing how your visitors find you is useful. What it tells you is whether your effort in specific areas of marketing is working or not.
This is useful to know so you can decide where to spend your time and effort.
You should keep an eye on your traffic sources to make sure that:
- You are not too reliant on one source. For example, if Etsy changes its algorithm (I know that will never happen!!), do you have another source of traffic that keeps you going while you work out how to beat it again.
- Your SEO efforts are actually working! If you track your Etsy search stats, then you can identify, over time, whether your SEO strategy is having a positive or negative effect. Your targeted SEO efforts will be seen in your traffic sources. If you see a downward trend in your views or any of your traffic sources, you’ll know where to focus your efforts to correct it.
The main goal with your traffic sources is to increase your traffic where ever you can. You also want to have multiple sources that provide a decent amount of traffic. If you monitor it, you can see if your efforts have been worthwhile.
What to do to improve your traffic sources
How you get your traffic is dependant on what works for you and your audience. This could include using social media, Pinterest or Email Marketing, to drive traffic to your shop.
Don’t forget your ETSY Search traffic is entirely dependent on the SEO on your listings. If you are making a concerted effort with your SEO, then it is useful to know your initial traffic from Etsy Search and then see how it changes over time.
Statistic 4 – Number of visits to make a sale
This goes hand in hand with many of the other statistics that we have looked at so far.
The number of visits to make sales is much the same as the conversion rate. It is less well used, but you may find it easier to relate to than the conversion rate.
It is actually calculated as the reverse of the conversion rate:
= (number of visits)/ (the number of orders).
So using these figures, it tells me that 1797/61 = 29.5. This means I need about 30 Visits to get 1 sale.
Theoretically, if I want to double my sales, I need to double my visits. Or, putting it another way, if I want to ensure I get, for example, 50 sales a month, then I need to get 50 x 30 = 1500 Visits to achieve it.
Now the hard work is to try and increase the number of Visits to achieve the constant sales numbers!
Statistic 5 – Revenue per order
If you have products at different price points, then another useful statistic is to know your average revenue for each sale.
This is calculated as:
Revenue / Number of Orders
While this isn’t as vital a statistic as the others, it does give you an idea of whether your different price points are working for you. It also helps you to understand how many orders you need to make to reach your revenue target.
The more revenue you can generate from each order, then the fewer sales you need to make to meet your revenue targets. But if it is easier to sell products that are at a low price point, then your revenue target could be hit quicker by having more lower-priced products. Only you know what works for you.
Knowing this figure gives you an idea of which price points work best for you and where to spend your efforts.
All of these statistics can form a growth strategy for you to use to help grow your business.
If you want somewhere to track all these statistics in one place, then we have you covered. Our Etsy Statistics tracker will monitor, chart and flag if you need to work on specific areas.