TL;DR Summary - Psychological Principles For Etsy Sellers
This course shows you 11 techniques that leverages customer psychology principles. Understanding and applying them ethically can help you boost your Etsy conversion rates.
1. Social Proof
- Leverage customer reviews and testimonials. If you don’t have many, highlight one or two in your listing photos.
- Showcase social media following and influencer collaborations if you have any
2. Authority
- Demonstrate expertise through photos and video that showcases your crafting process. Or display any relevant certifications or training.
- You can also build authority by creating relevant content on your blog or social media
3. Foot-in-the-Door Technique
- Offer low-cost option to get people to make a small, first purchase. For example, a sample kit with 3 of your bestsellers.
- Use follow-up strategies to encourage larger purchases through email marketing
4. Trust & Reliability
- Create detailed, accurate listings. Pay special attention to colours and sizes.
- Have clear shop policies and consistent branding in your Etsy shop
5. Decoy Effect
- Introduce a third option to make target product more attractive. For example, create a $25 small size to make the $29 medium size more attractive.
6. Scarcity
- Make use of Etsy's low stock alerts by set your inventory level lower (but be truthful and use ethically)
- Create limited edition or seasonal products
7. Anchoring
- Compare your products to premium alternatives to make yours seem better value
- Frame products as experience replacements
- Break down products into smaller parts to increase the perceived value
8. Cognitive Ease
- Use clear, straightforward language in titles and descriptions
- Simplify the buying process with ‘buying process’ listing photos
9. Urgency
- Run short-term sales (just a few days instead of weeks)
- Use clear communication to highlight deadlines. Leverage email marketing to make it more effective.
10. Loss Aversion
- Highlight long-term value and cost of inaction
- Address customer pain points directly
11. Reciprocity
- Include personalised thank you notes
- Offer small freebies or samples with orders
Additional Techniques:
- Use just below pricing ($.99) for value-based products or when you are running a sale. Use round pricing for more premium options.
- Higher price can create an impression of higher quality
- Storytelling to create emotional connections