Tuesday, March 4, 2014

Day 2. Product Marketability.

Marketing is something I was always having difficulties with. It’s always been a mystery to me, but I hope I can do better today.

I guess I have to start with visibility of my work. In order to test it I went to Google and searched all bunch of different keywords I could think of: beaded jewelry, bead crochet jewelry, bead weaving jewelry… - everything I could associate directly with my work, which mostly consists of beaded jewelry and bead crochet jewelry. The results were not surprising at all – the second, sometimes the third link is always pointed me to Etsy. Great news! It seems that I do not need to spread my efforts over many web sites – if I can make it visible on Etsy that would be good enough. At least for now.

Do you know that there are more than a 1000 jewelry shops registered on Etsy with total number of sales greater than 1000?
This is where I started to analyze my Etsy surrounding. Interestingly enough, first shop with beaded jewelry I did not found in the top stores. However, I found about 20 beaded jewelry shops with about 100 – 200 sales per year.

The average price on those shops is quite different – from $12 to $1500 per item. I guess Etsy allows you to find a buyer on any item for any price. Of course, price must be reasonable - for example, $1500 item is a necklace with genuine ruby stones.

Also I think it shows that market of bead weaving jewelry is relatively small. This type of jewelry is not as popular as “Alex & Anny” bracelets and therefore requires more effort to find my customer. At the same time,  I could identify relatively large number of similar size shops, which makes me think that there is no special secret in it and if I market my designs right, I shall be able to find my customer who will love and appreciate my work.

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