Etsy is a web site that is a BEST PRACTICES example on the new sales paths that can be created with customers seeking products that are defined by their authenticity.
Etsy began as a website that offered a global market for handmade goods. Their market niche is the retail customer that is seeking a product that comes with a “compelling story” on how the product was made and on the individual who handmade the product.
Awareness Customers is a defining name for these customers. They are informed, aware, consumers who are engineering their lives around their mantra of “Cost Less, Mean More!” These customers are actively seeking price competitive products that align with their values.
Buy Local is one manifestation of their focus upon “More.” Buy Local offers these consumers a quality and safety assurance from knowing who made the product and how it was made. It addresses their fears of buying products made in countries that maybe sacrificing consumer and environmental wellbeing in pursuit of achieving least cost.
To Etsy’s credit they are listening to the Awareness Customer.
Etsy has evolved their website to enable Buy Local. On the left column of their home page is a listing of local products that they offer. Or you can go to a webpage dedicated to enabling a buy local search.
What business is not looking for new customers?
What business is not looking for a path for competing on something other than price?
We all know the loyal customer is a business’ most profitable customer.
The path for growing customers, winning sales for reasons beyond price competitiveness and building a base of loyal customers is defined by the Etsy example of building a product line that screams with authenticity. Their secret sauce formulated around Buy Local, Buy Handmade and Buy Green is a roadmap for growing revenues.
Bill Roth is the founder of Earth 2017 that focuses upon the emerging smart, healthy and green economy. His book, The Secret Green Sauce, profiles best practices of businesses making money going green.