Create Your First Ad Campaign
The next thing we're gonna look at, let's create your first ad campaign. Let's brainstorm a campaign together. So to do so, I'm gonna give you a quick refresher on a marketing campaign. Now this is the campaign we covered in Market Your Etsy Shop to Sold Out Success. It was all a low cost, no cost strategy. So now we're gonna add a budget. It was list based promo before but I'm gonna add a budget to this. So I'm gonna look down my list of strategies and this is for my product based business. I'm gonna look down my list of strategies and I'm gonna actually do very little different. This time I'm only going to boost what's already working. There's a few important things to know. Changing the budget so that it's about 10% of the potential earnings. I don't really feel comfortable going more than that and I want my marketing campaign to do a good job. I don't wanna ever rely on advertising, I only wanna get better results with advertising. But in this case, and this is my product based bus...
iness, my inventory is very limited and I'm not even going to go into this advertising campaign, the goal of it all is 150 sales at the energy shop. Well that means I probably have 150 inventory but if I'm honest I probably have like, 120 at best 'cause that's really hard to create. So I'm not even going to spend if I'm already sold out. Now remember where I'm trying to sell out is my early bird special, that's gonna be the most profitable night of my campaign. That's directly to my list, that's a direct contact and so my marketing strategy is I'll get 80% of my revenue by giving them a first look. So let me just fill anybody in in case they're just tuning in and hear about this for the first time. In Market Your Etsy Shop to Sold Out Success, we were talking about how to successfully run a sale and get people in there with the scarcity and limited and time sensitive techniques that we use in marketing strategy. So before a public sale even goes off, I email my list the night before to give them first dibs on all of the available inventory. I'm not even going to add budget until after that email goes off 'cause I wanna see, I might meet my goal that night or I might be so close to my goal that I actually have an empty shop and I might save myself the $300 I was gonna use to help meet that goal. To ensure that I got the 150 sales. To ensure that I met my potential earnings. So most of this campaign, even with an advertising budget there, is still low cost or no cost. And then I'm gonna focus that advertising budget on social media boosts for the actual sales dates, Friday, Saturday, and Sunday and for this business, and for this business' target market I'm just going to keep it on Facebook and put the entire budget into running $100 a day. I will give it a $100 a day limit so that everybody in my fans or probably I would set that up too... I would probably set that up 100 to the actual fans of it and maybe 200 to finding new customers. But I would play with that and I would sort of do that on the fly, like how was I feeling about the sale? What was I looking for? And I would be looking for a mix of new customers and to ensure that my customers get that sale. So since it's a short and rare campaign, 'cause it's only gonna happen, it's a semi-annual sale, only happens twice a year, Pinterest is not a good choice. 'cause if it goes to Pinterest it's going to have a long term strategy, it's gonna start picking up that compound interest. But I could also divi the budget between a sidebar ad and those Facebook boosts. There's a lot of room to play and I'm trying to really think how can I capture their attention and where can I meet that customer? So another option is I could have one sidebar ad running for the full three days and make sure that that stayed constantly on, and I could allocate half of the budget to keeping it on, and then I could share about the sale each day and boost it for $50 each, a lot of different ways to split that up. Lot of different ways and if i find one thing that's working, like if I find one Facebook boost really starts to engage and people are loving it, and commenting it, and talking about it, now I'm gonna up that boost potential. So there's a lot of ways to play and strategize during the sale itself, during the boost. So again, you can target either your fans or an outside market. And now this is a basic example. It's a very straight forward "I'm having a sale and I need more customers" and boosting the post. It's easy and simple and it's based on a marketing campaign's already working success. But in a later segment I'm going to show you a more complex a longer advertising campaign with a much bigger budget and I'm gonna show you all the different ways you can grow and stretch and expand with this. So when targeting, or strategizing a target market, think hobbies, interests, TV shows, blogs, movies, all the different places that they might be and in my target, and from watching my role model, business role model, Energy Muse for the Energy Shop, My customers have interests like yoga and meditation and spiritual books, and then I'm watching where Energy Muse shows up on TV because if I see my product or something similar to my product show up on a TV show, I automatically start advertising to people that watch that TV show. I do this thing called smudging, it's a big part of my shop and it goes with everything, and it's an energy clearing. And it's rare and it comes with this whole explanation to it but it like, cleanses the energy and it goes with Feng Shui. When I see that show up on a TV show, which it has been lately, I take that as a trend, and we're gonna talk about how to ride trends coming up here in a minute, and I start to advertise to the people that just saw smudging because if they're interested, they're gonna be really interested and I wanna meet them where they're starting. Alright, do we have any questions about when to add advertising, what type of ads to run, or basic principles of an ad campaign, what we've covered so far? Are we good?
We have one question online, and Linda Metcalf asks "What is your opinion of ads on Etsy?"
Oh, yeah we covered that a little bit. Those are promoted listings on Etsy and sometimes they've worked really well. Sometimes they have a huge return, like with any other platform. At certain times that platform is gonna be more effective than at other times. So I've had great success sometimes with the Etsy promoted listings, I've earned a lot back on my investment, but I just had a season where I broke even and I shut it all down because it really wasn't doing its job as a platform. As an advertising platform. But it's worth a test. It's worth always test, and so remember this is a lot about gambling and testing and trying things out, and it should be playful and it should be fun, and the best way to do that is have an ad budget you can feel confident in investing.