Former_Member
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Heartsy Sellers: Those with lower price points...

...Can I be nosy and ask what sort of deal you gave for Heartsy and maintained a proft for yourself at the same time?

Just wondering how the lower-price point sellers like me have been crunching their numbers...
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Re: Heartsy Sellers: Those with lower price points...

The thought, I believe, is that once they have spent their coupon, they are now engaged with your shop and will (hopefully) spend more on full priced items. That is my guess : )
Heather
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Re: Heartsy Sellers: Those with lower price points...

Why not set up a spreadsheet to crunch the #s for you and see what the loss/profit would be at different deals?

That is what I did before submitting my shop...
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Former_Member
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Re: Heartsy Sellers: Those with lower price points...

it really depends on what kind of profit you have built into your prices.
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Former_Member
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Re: Heartsy Sellers: Those with lower price points...

Awaken---I have been doing that, and flirt I realize that---I was asking if anyone who'd been featured on Heartsy (with lower price points) found it difficult to crunch numbers because of the lack of "wiggle room"...for example, it's not like jewelry or a bag----you can only price a soap bar so high, no matter the cost of your supplies, kwim?

Guess my OP wasn't clear enough.
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Former_Member
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Re: Heartsy Sellers: Those with lower price points...

Karina, I offered a deep discount, 70%, using my advertising budget for that month rather than assuming I would make a profit from it.

To my surpise and delight, the vast majority of people purchased almost twice the voucher amount. I actually made a small profit during my feature.

However, the biggest benefit I've had from Heartsy is the exposure. I had 5 sales when my feature began, and 40 when it ended. I know have almost double that amount of sales (one away from 80 now!) and have only been on Etsy since Feb of this year. I'm still getting sales from people who saw my shop on Heartsy but missed the deal, as well as repeat customers from the ones who purchased.

The number of sales I received that day has given my buyers confidence, since we can't hide our number of sales. The feedback coming in is amazing which also helps people have confidence purchasing from me.

Like you, I can only price so high. I have increased my pricing since the feature. That was one lesson I learned from it, my pricing was low to make the profit I need.

But, like I said, I used my advertising budget for the month to "pay" for my feature, so regardless of the outcome, I wasn't going to lose any money.

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Former_Member
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Re: Heartsy Sellers: Those with lower price points...

Dish, congrats on your sales, and I'm glad Heartsy went well for you! Yes, like you we're going to be doing this mainly for promotional purposes---much cheaper than a TV ad, or a full-page magazine ad.

I've got a few numbers in mind interms of what kind of deal I want to offer..I've got the stock so the good thing is that I won't be having to buy extra supplies afterwards, etc. unless I make a huge number of sales. I'm hoping that most of my buyers will go over the voucher amount, and not just due to the cost of shipping.
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Re: Heartsy Sellers: Those with lower price points...

Dish - Thank you for sharing your experience and sales number. It is good to hear the outcome of a feature.

Karina - I agree there isn't a huge amount of wiggle room for B&B sellers, but many I buyers have stated that they are more willing to try a seller with the voucher and then are planning to be back if they are happy with the product. So for me I would have to evaluate the price, advertising, and potential repeat buyers into my numbers to see what is an acceptable discount to offer.

Good Luck!

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Former_Member
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Re: Heartsy Sellers: Those with lower price points...

The last thing I bought from a heartsy deal, was a bunch of scrabble pendents, also a low $$ margin item. To simplify the process, the seller had bundles, 3 pendants and a chain for $32, 4 for $34, etc. This way you were able to see exactly how much your voucher would buy, and by gouping, there's less chance that someone will either leave the dreaded credit, or get the free shipping.

What I did was figure out how many bars I could fit into each flat rate box, add up the cost of bars and shipping, to make it so they'd either pay shipping or need to order extra bars to make it fit the boxes.
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Re: Heartsy Sellers: Those with lower price points...

I really enjoy reading everyone's input on this. One of my two deals is almost at 60. I'm really hoping I get a chance to try it out!
Heather
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Former_Member
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Re: Heartsy Sellers: Those with lower price points...

one of my deals is well over 60- i'm kind of worried at what I got myself into!
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Re: Heartsy Sellers: Those with lower price points...

Apparently there are many factors that go into the decision, as a guy from heartsy told me, votes and several other criteria.
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Former_Member
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Re: Heartsy Sellers: Those with lower price points...

pieceofpisces---thanks for the advice!

I also like the idea of offering bundles mentioned earlier...I just may have to do a few soap bundles in my shop.
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Former_Member
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Re: Heartsy Sellers: Those with lower price points...

Thanks for sharing the different views. I think I am in the holding pattern and waiting for the next round of communication. It is a great advertising venue - I hope that I will get featured soon
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