Cyber Monday Sale!

Today's Silver Price: $19.93/t.oz.

I'm currently running a Cyber Monday sale in my Etsy shop. 20% off all items with coupon code CYBER2013. Sale ends at midnight tonight. The coupon code must be entered at checkout. 

This is the first time I've had a sale in my shop! Lets see how it goes! 

Social Media Blitz

Today's Silver Price: $23.78/t.oz

I've recently started using Twitter, Instagram and Pinterest to promote my Etsy shop. It's probably been a few months now, and I've seen an incredible jump in views of my shop. And the results are immediately seen. When I post on Twitter or Instagram, I see an increase in views that same day. On days when I haven't posted anything new, my Etsy views are often zero. Even small blurbs on Twitter can lead to shop views. I believe the social media posts have led to purchases, however I cannot be sure as there is no way that I know of to track how a specific buyer came to my shop.

I've read that in order to use Twitter and other social media sites to successfully promote a webpage or business, you must post often. Regular posts keep people interested in your feed. This type of discipline is something I've struggled with in the past and will have to overcome. Even when I'm lazy and don't feel like posting, I need to post even a tiny snipet, inspirational quote or a photo to try and hold the attention of potential customers. This obviously applies to blogging as well, so I will do my best to post here regularly.

Today I updated my LinkedIn profile. I figured that promoting my Etsy shop through this outlet can't hurt. When I created the account, I didn't think I would use it much as it seems to be a site for business connections. However I've come to realize that if I want to pursue self-employment, I'd better start promoting myself as a creative entrepreneur. I've chosen to list myself as an artist. I have always shyed away from identifying myself with this term, but now I feel that I can embrace it and live it. I am a designer, I am a painter, and overall I am an artist.

I've become fed-up with my 9-5 office job, so I am now intent on developing my business and working towards self-employment. My very wise aunt says, if you throw enough mud at a wall, eventually some of it will stick. So I'm determined to throw as much social media mud on the internet wall as I can!

Below are some of the recent items I've listed in my shop, and at the bottom is a photo of my creative process!

Silver Plated Bracelet

Sterling Silver Ring

 

Double Strand Silver Plated Necklace

Etsy Postings for 6.2.13

Today's Silver Price: $22.26/t.oz. (WOW!)

I've had a tough time getting back into blogging. I'll do an easy one tonight... below are the latest additions to my Etsy shop. A lot of the silver-plated components used in these designs I purchased from Etsy sellers, so that's pretty neat. Also, I'm liking the solid black background in the newer pictures. I think the older pictures are using backgrounds that are too busy and they take away from the jewelry. I think I'm going to continue using solid black backgrounds, or white backgrounds with a very subtle design on them. I'd like to re-shoot the older listings eventually to create a uniform look in the shop, but who knows when I'll get to that!

Just posted these on Etsy tonight:

Silver Leaves Necklace

Silver Leaves Earrings

Diamond Shaped Earrings 

Hematite & Silver Earrings

Pricing Decoded?

Today's Silver Price: $35.05/t.oz.

I found a new resource this morning while I should have been getting ready for work but instead opted to log on to Facebook and see what was new. Well, this is what was new. A website called Home Jewelry Business Guide. I mean, if ever there was a website that I was supposed to find, THIS IS IT. A crafter had posted a FB link to an article on this website that discusses how to price your jewelry. So of course I immediately clicked on the link. It's like some ancient mystery- how to price your work. These folks seem to think they have found the magic formula.

Jewelry Wholesale Pricing

Pricing Handmade Jewelry for Retail Sales

The two links above will bring you to the articles which contain the afore mentioned secret formulas. Let's discuss the first formula (I'm not going to post the formula, you'll have to go to their page to check it out- the differences between the two are explained).

At first the formula seems a bit silly. The hourly rate looks a bit steep, and the genius pay is stretching it. They actually factor in an emotional distress fee. Really?? If you're under emotional distress while making jewelry, maybe you shouldn't make jewelry!

This did however bring up a very important factor that I had not before considered. This individual calculates profit AFTER they have totaled up cost of materials and COST OF LABOR. I've always just figured that if I'm making a piece using $10 worth of materials, and I sell it for $20, then I'm making profit! I generally don't consider time and labor as part of my price calculation. So in a sense, I've been working for free. Yes, I have made some money by selling the piece, but I have not been paid for my labor.

These formulas are great for pricing your work. They cover all bases and give any crafter or artisan at least an idea of how to price a piece. However I think there is one very big factor that has been left out. Quite often I base my pricing on what I think I would pay for it in a store or at a fair. In our struggling economy shoppers are not looking at expensive items, they are looking for deals and bargains. While there is the niche of consumers that are willing to pay high prices for unique handmade pieces, I feel that most people these days are on too tight of a budget. 

If you look at the formula for retail sales pricing, this blows the word 'bargain' or 'affordable' right out of the water. Apparently I should be charging much more for my jewelry than I currently am.

So is this a magic formula for me? No, but it's a good place to start. I have yet to explore this new website in depth but I am excited to have stumbled upon it!