“We believe TV, cable, and digital video are all potentially great channels for Etsy to reach broad audiences, further enhancing loyalty to our brand and without a dependency on referral sources like Google or Facebook,” said Silverman on the call.
This isn’t the first time Etsy has paused marketing in order to examine its returns. In 2017, the 14-year-old company, which went public in 2015, suspended its larger brand campaign in order to focus on customer experience and payment safety.
“The company pulled back on marketing spend in certain channels as it used the quarter to re-calibrate return-on-investment attribution models, and this has led to increased confidence in a spending plan we expect to gain steam throughout the year,” wrote Canaccord Genuity retail analysts in a recent report.
Silverman noted that Etsy will continue to ramp up its marketing for the remainder of the year. He noted the importance in building a brand that is not reliant on “referral streams like Google and Facebook.”
“TV is a channel that can scale very well and continue to build loyalty to us as a destination,” he said.