169. When Your Competitor is a Bigger Brand .. Do This!

Crickets to Cha-Chings

In this episode, Julie and Sasha of Gold City Ventures and Kennedy of Our Friendly World discuss growing a business off of Etsy. They talk about competitor analysis and the importance of understanding your customers and competitors. They specifically discuss what to do when your competitor is a bigger brand than you and was on Shark Tank! They also discuss the potential for collaborations and sponsorships, as well as the role of video content in driving traffic and engagement. The conversation highlights the importance of repurposing content and experimenting with different platforms to reach your target audience. Links: Kennedy's Business Our Friendly World: https://www.etsy.com/shop/ourfriendlyworld Gold City Ventures Beyond Program: https://goldcityventures.com/beyond/ This episode on YouTube: https://youtu.be/TU_L6OaA5UQ In this conversation, Julie and Sasha also discuss various strategies for driving traffic and generating leads for a handmade crochet kit business. They emphasize the importance of understanding the customer journey and tailoring content to different stages of the sales funnel. They also discuss the potential of affiliate marketing, building an email list, and outsourcing tasks to save time. The conversation concludes with a discussion on the value of collaboration and networking within the crafting community. Takeaways

• Understanding your customers and competitors through competitor analysis is crucial for growing your business off of Etsy.
• Collaborations and sponsorships can be effective ways to expand your reach and attract new customers.
• Video content is a powerful tool for driving traffic and engagement, and it can be repurposed across different platforms.
• Experimenting with different platforms and strategies is important to find what works best for your business. Understand the customer journey and tailor content to different stages of the sales funnel
• Consider affiliate marketing as a way to leverage the networks of others to promote your products
• Build an email list to capture leads and nurture relationships with potential customers
• Outsource tasks to save time and focus on high-value activities
• Collaborate and network within the crafting community to expand your reach and opportunities

Chapters 00:00 Introduction and Background 02:00 Competitor Analysis and Insights 04:06 Understanding the Woobles and Differentiating Your Products 09:06 Taking Advantage of Competitors and Building the Market 12:24 Repurposing Content and Driving Traffic with Video 15:18 Exploring Collaborations and Sponsorships 22:16 The Role of Video Content in Attracting Customers 25:49 Experimenting with Different Platforms and Strategies 28:03 Understanding the Customer Journey and Tailoring Content 35:24 The Potential of Affiliate Marketing and Building an Email List 45:32 Outsourcing Tasks to Save Time and Focus on High-Value Activities 52:07 Creating Efficient Workflows and Maximizing ROI 58:22 Collaborating and Networking within the Crafting Community