Hey OP, I run one of the largest crafting FB groups and I have done for more than 10 yrs. I’ve seen so many craft businesses in your position but it is usually possible to turn things around.
I know you’re trying to be cagey but it would honestly help so much if you could tell us broadly what you sell.
Over the years I’ve seen many crafts become red-hot with sellers unable to keep up with demand. And then that craft falls out of favour and sales drop off a cliff edge. Glitter glasses is a good example, as is book folding. Both of those crafts were INSANELY popular for a while but now are pretty much snubbed by most.
You’ve had lots of brilliant generic advice but we could help you so much more if you gave some more specifics.
Do you know who your main competitors are on Etsy? How much are they selling?
Do your main competitors only sell the same as you or have they diversified into other lines??
The majority of successful crafters have to be able to bring in new products/techniques/ideas to stay relevant. So for example, metal stampers have brought in colour and full picture designs, while some also offer laser engraving.
You say you could bring in something else but it wouldn’t be handmade. I would strongly advise you not to do this - you’ll damage your brand. People buy from crafters because they love handmade goods - if you start selling things you didn’t make, it will make your existing things look lower quality and customers will doubt whether you made those too!
NOTHS might help broaden your potential customer base but I doubt it will prove to be a total lifeline. I know marketing isn’t much fun but it’s now an essential part of success. You need to set time aside for this - I know it’s a pain but you need to proactively manage your shop.
I think Facebook works really well alongside Etsy - you can send your customers to purchase via Etsy but FB lets you reach a really wide market, including local customers.
How’s your SEO working? When you search for your items, where do you rank? Do customers see other shops first before they find yours? Do you make the most of seasonal occasions - Mothers Day is coming up, have you added SEO tags to items that could be sold for Mothers Day?
There are so many crafters out there unless you offer something that’s truly unique we’re not going to identify you. But a bit of a pointer about your actual craft would let us offer more meaningful advice than just general commentary.
FWIW, I’ve seen many, many craft businesses go through a lean spell and come out the other side. The trick is to never stagnate, you always need to be thinking ahead.
One crafter I know who offers stunning resin crafts also runs a group where she provides hints and tips to those who want to try it. It may sounded counterintuitive but then she sells access to a private group for 1:1 online tuition, step by step instructions and craft kits. A needle felter I know supplements her sales by putting together kits.
Crafting has rocketed in popularity - if you can diversify in a way that allows others to try your craft and pay you for your expertise in some way, that could be VERY worth trying. If you’re not comfortable providing tuition, it might just be selling kits with all the necessary components included, or writing up a personal design (for crochet or knitting etc) that people could directly download.
You obviously have fabulous skills to have achieved what you have - you just need to find new ways to reach your market.
And of course, CoL and customers’ dislike of Etsy won’t help - but I suspect your problems might be more than simply that if your competitors are still doing well.
Genuinely good luck x