The Value of Refining an Existing Product Rather Than Starting From Scratch

Even if your products are selling well at the moment, Etsy is an ever-changing place where customer preference and your competitors are constantly evolving. One of the biggest threats to Etsy sellers (and sellers in other platforms) is copycats - Either copy the whole design illegally, or draw inspiration from your shop heavily.

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A key skill for long-term success is the ability to adapt and improve. And refining your handmade product can help you stay ahead of the market and even bring in new customers.

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When Should You Refine and When Should You Develop

Develop when:

• Your product is not getting a lot of sales
• The market has changed (either demand has dropped significantly or competition has caught up) and your current product is not getting sales because of that
• Innovations or advancements make the original product redundant (e.g. phone cases of older models are redundant)

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Refine when:

• Your product is already selling ok but can benefit from minor improvements
• You receive multiple feedbacks from customers that point towards the same enhancement
• Market trend evolve, presenting an opportunity to add value to your current product

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Whether you should deactivate the original listing or create a new one depends heavily on your change. For example, if your refinement is a smoother buying process with a ‘how it works’ listing photo and updated FAQs, then it makes sense to keep the same listing. But if your change involves using a new material, say a heavy waxed canvas fabric, for your tote bags, then you should probably create a new listing for that.

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Identifying Potential Reasons a Customer Might Not Buy Your Product and Ways to Address Them

Gather your customer reviews and feedback and identify the potential reasons. A lot of times, you can see improvement in conversion rate by tweaking one or more of these reasons:

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Product Quality or Durability

• Reason: If customers perceive that the item might not last long or if its craftsmanship seems poor, they might hesitate.
• Solution: Showcase your creation process professionally, display close-up photos that highlight the craftsmanship, and offer warranties or guarantees if applicable.

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Missing Features

• Problem: Your product lacks certain features that customers might expect given the feedback from multiple customers.
• Solution: Take a handcrafted wallet as an example: If customers are looking for a coin pocket and your design doesn't include one, consider integrating it into your next batch. Or for a business card design: More people are using QR code to link to their website or socials, adding that feature would make sense.

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Complicated Buying Process

• Problem: If you have multiple shoppers asking you about ‘how it works’, then your Etsy listing might be confusing or lacking in crucial details.
• Solution: Include a ‘How It Works’ listing photo, write a clear step-by-step in product descriptions, and add FAQs of the common enquiries. The clearer the buying process, the less chance that shoppers will be confused and left your shop.

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Uncertainty about Fit or Size

• Reason: Particularly relevant for clothing or jewelry, customers might be unsure if the product will fit them.
• Solution: Offer detailed size guides, customisable sizes, or easy exchange policies. Include product photos on diverse models to give a better sense of fit. For example, a free ring size guide to help customer measure the size before purchasing the ring.

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Packaging

• Reason: Customers may have concerns about packaging that’s wasteful, non-recyclable, not gift ready, etc.
• Solution: Take a photo of your packaging which addresses the areas of concern. For example, a photo of a recyclable cardboard jewelry box with text highlighting that feature.

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Materials Used

• Problem: Some customers are very particular about materials due to allergies, sustainability concerns, or personal preferences. Again, listen to customer feedback on this.
• Solution: If you're making jewelry and using nickel, which some are allergic to, consider offering hypoallergenic alternatives. Likewise, if sustainability is a selling point in your niche, consider transitioning to eco-friendly materials.

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Aesthetic

• Problem: The design or appearance of your product may not resonate with some of your target audience.
• Solution: Research current market trends and adapt your design to fit popular aesthetics. For example, if bohemian home decor is trending, you might consider integrating boho elements into your handmade decor items if it fits your brand aesthetics.
  

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High Price Point Without Justification

• Problem: Your product's price may be higher than competitors without clear reasoning.
• Solution: If your product's cost is due to high-quality materials or intricate craftsmanship, make sure that this is showcased properly in your listing photos and description. Check out my pricing course for more strategies on this.

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Remember, product refinement is an ongoing process. Embrace the evolution of your handmade product, continuously listen to customer feedback, and make your product offering better over time.

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