Etsy will advertise on TV and billboards, telling sellers on Monday it will focus on improving traffic to their shops this year. Etsy will show up on “unmissable” ad channels around the world, according to Etsy’s Chief Operating Officer Raina Moskowitz, “including TV, social media, podcasts and even billboards,” she said.
In 2022, Etsy spent hundreds of millions of dollars in brand and digital marketing in the US and internationally. This year, it will invest even more and test out new marketing channels.
Interestingly Etsy didn’t get any more specific about its 2022 marketing budget in the announcement. One year ago, it revealed it had spent nearly $600 million on marketing in 2021 and revealed a similar marketing strategy that included TV commercials, “influencers and tastemakers,” billboards, podcast advertising, and email marketing.
Nor did Etsy get specific about how much it would spend on marketing in 2023.
The company said it will also offer Etsy-funded discount programs, sales events in its app, and abandoned cart reminders.
Etsy is able to invest in marketing in part due to its April 11, 2022 fee hike when it raised commission fees from 5% to 6.5%. Etsy sellers also fund ads through the Etsy Offsite Ad program, which is mandatory for sellers once their shop does sales over $10,000 in a 365-day period.
Etsy will also improve the tools and resources available to them – Moskowitz said “thank you” coupons were popular with sellers and Etsy would work to make them easier to use this year – and would also introduce new types of offers for sellers.
More pricing tools are in the works, and Etsy is investing in chat support and trust and safety.
Etsy will also provide sellers with “even more insights into how your ads are working for you, so you can better understand what shoppers are searching for, and make smarter decisions about how to use your marketing budget to expand your reach.”
Finally, Etsy announced it would hold its annual seller event Etsy Up virtually on
May 18 at 1pm ET. Last year, over 80,000 sellers participated in the event.
Etsy described what it was doing to bring more resources to sellers as follows:
Improving the tools that help you run your business
We want Etsy’s tools to feel designed just for you. Etsy was created almost 20 years ago to give creators and curators around the world the tools they need to start and grow an online business. This year, we’ll continue to focus on improving the tools you love and we’ll also give the essential tools you use every day some upgrades to make managing your shop even easier.
- Continuing to add new features to the new Etsy Seller App: Last year we launched a brand new Etsy Seller App. Upgrading the technology that powers the app allows us to add new features more quickly and more often. This year we’re making tons of updates based on your feedback—one that we’re most excited about is upgrading the social sharing tools in the app to make it easier to promote your shop and reach new audiences.
- Helping you continue to save on shipping labels: Buying shipping labels on Etsy gives you access to discounted rates and a quick and easy purchase process. We’re working to expand our carrier partnerships to even more countries and Etsy sellers. And we’ll continue negotiating pricing on your behalf so you can save on shipping.
- Making the listing process easier than ever: We’re introducing a new streamlined process so you can add and edit listings more easily—helping you save time. These updates will also help you better describe your items so you can highlight what makes them unique. We’ll share more details about what’s changing in the coming months.
- Helping you find the right pricing strategy: This year we’ll help you navigate pricing by sharing more educational resources and we’ll work to make our discounting tools even easier to use (and introduce new types of offers). It’s all designed to help you find the right pricing strategy for your business goals.
Check out the full post on Etsy, and visit the AuctionBytes Blog and let us know what you think of Etsy’s survey asking sellers what they think of its priorities this year.
etsy is almost 20? Didnt.realize it. I don’t think blitz advertising is necessary
Etsy needs to show the high end stuff.
I see the ad and don’t know what they’re advertising til the end when it shows “Etsy” in the corner.
Up until then I don’t see anything I would buy.
Etsy-coming up with more creative ways for me to deep discount my items (not gonna happen) while shoving their hand in my pocket for mandatory offsite ad fees that we don’t want, have zero control over and can’t opt out of. Awesome…..