3 Helpful Tips on How to Make Money Selling Your Products

I recently watched a very informative video on “how to make money selling your crafts” and wanted to pass along the insightful information. I have highlighted a few of the major bullet points for you and you can watch the full video below!

Doggie with glasses#1 ~How do I begin?

*Begin with the end in mind and define your niche (seen at the 1:57 mark on the video).

* It’s important to define your ultimate goal. What is it that you really want?

*What is driving the desire to sell? Is this a side project, is it a career path for you, is it pin money or do you want it to pay your bills?

It’s Important to Define Your Niche

*Is there a market for your product line?

*Investigate price points – can you be competitive on price with the current market?

*Do you want to sell wholesale, retail or both?

Jewels#2 ~How do I price my beautiful products?

Take the following things into account when pricing your work (seen at the 3:30 mark on the video).

*The market will establish a ceiling.

*Consider cost of goods sold.

*Take into account the amount of time you spent creating the piece. (consider the learning curve and price your work according to the time it takes you to create it when you are proficient at the technique).

*Intangible benefits of working from home should be factored in as well.

*Cultivate wholesale resources. You can check this off your list, you have us! Rainbows of Light.com, wholesale to the public!

*Adjust your pricing based on if you are selling wholesale vs. retail.

Bracelet #3 How do I Market My Products?

*Marketing is all about building and establishing relationships. (seen at the 6:06 mark on the video).

*Utilize Social Media! In today’s world, it is incredibly important to build relationships using social media.

The most important aspects: Have a Website, Facebook Page, Blog Regularly, Pinterest, Twitter and Newsletters. These are great places where your creativity and personality can shine! Have fun with these, allow your passions  for life to shine through. The more your customers get to know you and/or your brand, the more they learn about your story and the history behind your products, the more loyalty they will have for you and the better they will feel about supporting you and your work.  You have to ware all of these hats to be affective in today’s market!

*Building a Website : (seen at the 6:15 mark on the video).

~You can hire a professional or do it yourself. A good web hosting company makes it easy. Decide on a shopping cart or brochure site.

*Elements of a Good Website (seen at the 6:41 mark on the video).

~Clean and well organized. Promote a cohesive brand and image. Good pictures are an absolute must. Link to all your social media outlets and contact information. Make frequent updates to your home page to keep it fresh and helps with search engine optimization.

*Facebook Business Page (seen at the 8.30 mark on the video).

~It’s important to attract “fans” because those fans have friends that see what they “Like” which will grow your clientele. Post fun and informative updates, use lots of bright colors/pictures that link back to your blog, website etc.

* The Importance of Blogging (seen at the 9:02 mark on the video).

~It’s a great way to establish a personal relationship with your customers and prospective customers. Drive traffic to your site by attracting search engines to your website. Engage your reader with a story and don’t try and sell products here, Your website and newsletters should serve that function.

*Blogging Etiquette (seen at the 10:17 mark on the video).

~Use a great title! Give your reader something of value. Use lots of great pictures. Content should be rich in organic search terms. Be YOU! Don’t be afraid, It can be fun and informal, most of all let people get to know you.

~Utilize free tools to track and analyze the performance of your social media outlets such as statcounter.com and Alexa.com.

Watch the full video below!

 

 

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