Should you lower prices if you aren’t selling?
For first-time exhibitors, pricing artwork is often a last-minute, difficult decision. It’s daunting to assign value to your own work. Do not make common mistakes and go straight to an hourly wage pricing, by taking your art and charging a price based on hours and materials. The reason this does not work is because an artist is not a factory! Taking time, materials and overhead costs to create price is the fast and loose pricing model but is not perceived well by an audience of buyers.
Cost of materials is always important, when trying to make a profit or breaking even as a new artist. The real consideration should be on the perceived value a piece creates for its audience. You can visit a gallery with artists similar to your style and get a rough idea of what pricing looks like in the area you are selling work. The other aspect is asking potential buyers and art admires how they feel about the price of the pieces currently being displayed. This allows a new artist to gain insight into the market they are selling in but also helps to highlight how artists should market themselves to create more value !
Perceived value is the additional value that the client attributes to your work regardless of its intrinsic value perceived by the creator. Perceived value is subjective and heavily influenced by the artist’s image, word of mouth and portfolio. If given a choice between two similar paintings, clients are frequently willing to pay more for the one with greater perceived value. If you are selling copies of originals online or in galleries a buyer is going to perceive the value and price as lower, hence lower prices are needed. If a piece was particularly difficult to work on, or you are particularly attached to it, there’s a tendency to want to price it higher. Raising prices by 10 to 20 percent is a good starting point for pieces that you are willing to hold in your inventory for a longer time.
Some artists price artwork based on size because of the perceived value, either by the square inch or the perimeter because the idea makes sense to buyers looking at other art in similar markets. Pricing based on the perceived value starts with the artist and their story. To buyers, the artist and the story behind the art certainly drives the motive for buying. Make sense of your story as an artist before pricing and selling art work. Improve your sales with a healthy dose of self-promotion. Telling your story, and your artwork’s story, increases its value, becoming a contributor to a blog like Art Storm can help share your story. Customers will pay extra for the familiarity and confidence that the artists brand has, so do not lower prices just yet!
Well into the new year and still not feeling like a rock star? Here are three things to always implement when trying to further your art career!
First step into creating more success in your career in 2017 is networking. Networking may seem like an obvious pick for the top of our list, but it is more about the HOW than the WHAT, in this case.
In the industry, you will meet many people, or at least you should and how you interact is very important. Attend relevant events that help you grow, expand and become more involved. Examples of these are, gallery openings, special art event nights the city you live in may put on, or shows where you display your art work.
Bringing your social life into your job is also important. Networking is not something that happens Monday through Friday. If you are serious about being more successful, you need to look at every opportunity to network. This does not mean that an artist should tirelessly talk about themselves and their art, but be aware of connections that could be made in the least likely of places.
Networking better is the key. We all know how to introduce ourselves at this point, hand out a business card and make sure we ask the person why they are attending the event, but there is more that needs to be done!
Get to know three people well at an industry event, instead of madly passing out cards and filling the business card quota. Talk with a few people and get to know them. Make sure you walk away knowing their name, face and minor story. Find a common interest within the industry or out of it, ensuring a stronger bond that will cultivate long lasting business connections.
Don't Write a Long List
Second step to creating a more successful 2017 is, not writing a list!
8% of people achieve a new year’s resolution or goal. Instead pick your top 5 and take time writing out a more descriptive plan of how to meet your goals.
For example, if a goal is to expand your reach as an artist and allow more people to view your work, you need to start with your budget, time constraints and most importantly your target audience. Money well spent, is money that is thoughtfully invested within your career, some choices to expand are not always the best ones.
Third step to art career success is redefine accountability because it is a downfall of many plans unfinished. The first two steps will mean nothing if someone does not follow through with a plan. Do not just make goals or plans; hold yourself and those around you involved with your career, accountable. Check in, be protective about staying on track, and do not let life get in the way often. Life will always be there, it may never be the right time in your personal life, but the world keeps on moving without you, meaning lost opportunities. Redefine what makes you a dependable person in the professional world; It is a great way to manage your expectations for the year.
Every break through requires a bold stroke. Be proactive and determined to become a part of that 8%
A good question to ask yourself is, "Why should people work with me?" This is a hard yet hidden truth most business professional ask themselves when a potential client comes walking in the door with a proposal for business. Be compelling, make them realize you are worth investing in. Once involved in a project, don’t justify why you could not make a meeting or hit a deadline, be accountable and responsible for your career and future.
A determined and focused mindset ensures success in achieving goals within your career. Look at some pitfalls and un-achieved goals over the years and then look at why they may have happened. Empower yourself and your career by using knowledge you already have and tools you have obtained, in a new way. Artists need to market themselves as much as their art work!
By: Ashley Reid
Recognition is valid for large target consumption and or fame by way of branding. Branding has proven to increase name recognition in and outside art museums. One well known art museum that takes advantage of branding is Tate Britain Museum of Guggenheim UK mentioned in this article. Not all museums take advantage of branding yet as an associate with Art Storm, I personally encourage both artist and museums to practice branding.
Tate museum uses the name Tate as the “stamp” if you will, to brand the museum. Branding museums includes name, slogan, logo, and packaging. Tate is successful in branding by originally shortening ‘The Tate gallery’ to Tate. Tate’s slogan ‘look again, think again’ which has changed many time before, was agreed upon to cogitate deeper thoughts from viewers of the art in the museum.
Artist stamp vary from the signature to the art style. The signature could be both the final touch on an art piece that says ‘made by …’ to the style of that art that viewers instantly recognize such as Jackson Pollock’s Drip paintings. The stamp can be made as a signature such as the scrawled name on the bottom right hand corner to a symbol that is indicative of the artist. In branding of artist the art is usually the stamp that viewers and collectors recognize the artist.
The Tate brand varies from negative and positive space for lettering to a variety of colors that blurs or sharpens from stamp to stamp. The assortment of stamps that the Tate brand introduces gains instant recognition as the Tate logo. Like Starbucks Tate advertises itself by putting the Tate logo on many consumer products, or partnering up with licensing agencies with royalties.
At Art Storm we promote our artists through social media such as Twitter, Facebook, and Pinterest. Art Storm connects an assortment of agencies according to the needs of the artist. Possibilities are endless, today the Vincent Van Gogh’s Starry Night is found on everyday objects like T-shirts, mugs, puzzles, and more. Art storm connects artist with collectors, galleries, and a larger art and non-art community.
Publicity is important also for a museum to be successful. One way Tate is well publicized is by placing positive stories that recognizes happenings in the museum to who and what is featured in the galleries of the museum. All press is good weather good or not for all press gives the subject a spotlight. Tate in this case has the ability to kill hostile press coverage.
The museum in the age of globalization is are the most marketed, this is why Tate is the most recognized museum just as BBC is the most recognized news broadcast. Though Tate is both powerful and public its self-fashioning serves the ‘new spirit of capitalism’. With the qualities of branding Tate is the most famous art museum. Visitors and audiences of the museums are cognitively enticed as they view the featured art but were first draw in by the gained recognition Tate attracted.
Stallabrass, Julian“ Branding of the Museum.” Tate Modern Shop. 23 Oct. 2013. Web. Jan 2014.
Are you listed in the Art Storm Directory? If not, you should be. For $2 a month you get a listing that may bring you direct sales but WILL act as a link in from an authority site...very good for SEO on your own site. It's an easy way to invest in your art. Read more and sign up...
Steps to Sell More Art
While there are many elements to a successful sale, the process itself is simple once you understand your role. Here is a snippet of the article! Enjoy!
1) Build Strong Relationships
Your potential buyers have needs, passions, strengths and weaknesses. Your #1 goal is to build a long term relationship. Be bold when you introduce yourself. Extend your hand and say “good afternoon, I am --, this is my art.”
2) Give your Potential Buyers Space
Engage potential buyers and tell them a story about the art, it is also critical to give them some space. Selling art is like a little dance; take the lead!
3) Ask for the Close
Asking buyers to commit can seem a little scary at first. You might feel like you are taking a risk by asking. You face a far greater risk if you don’t try to close the sale: someone who loves a piece might not end up buying simply because they weren’t given the opportunity.
In this short and FREE ebook titled, "10 Ways to Convert More Customers" you can read about...
- Should you label your customers?
- What small differences will drive a customer to action?
- Learn to understand your customers better.
- Learn how to reframe value to increase conversions.
- Use bundling to decrease pain points.
- Sweat the small stuff...learn how a single word can increase conversion 20%.
I highly recommend this short ebook! In just a few minutes you will learn well-researched techniques that you can use everyday to make your marketing more effective. Don't delay, read it today!
I just came across this blog article titled. "11 Common Blogging Mistakes That Are Wasting Your Audience’s Time". Good article, but I didn't want to waste your time (haha, see what I did there?) so I would like to focus on just a few...
Blogging Mistake #1: You love complexity
Yep, you've got a lot to say and the world MUST be interested...well, not so much. Simplicity is a beautiful thing.
Blogging Mistake #8: You don’t know who you’re writing for
I can relate. Am I writing for the artists or art buyers? Well, at least I know they all have one thing in common: art. But even artists like a cute puppy video now and then, right?
Blogging Mistake #10: You edit your posts in less than five minutes
Having spent years writing titles, descriptions and keywords to optimize stock images for search engines I do tend to write in a very tight style so maybe it's not a huge problem with me, but you? You'd better slow down and take a closer look before you hit that publish button. Okay, maybe I should too.
Blogging Mistake #11: You don’t show your personality
True. I know I think so much about who my posts are for that I probably don't let my shining and majestic personality come through the way I should...I'll work on that, and you should too. 🙂
Yeah, there's a bunch more and they're probably worth reading so here they are again...
Top 5 questions
Once you have decided that working for others day in and day out has grown more than tiresome, and you find less and less time to do the things you love, Art Storm will be here for you.
That moment in life when you start to feel like your hobby or passion could make you money, that all your efforts placed in someone elses company have been wasted, and flexibility sounds more than appealing; it is now a necessity.
You have now decided that creating a business and selling products is the path for you. Where to start now? It is time to ask some questions:
- What type of business do you want to have?
- What is the purpose of your business?
- Who are your target customers?
- What are your primary product / service?
- What is the primary function of your product / service?
When answering these questions, it is best to dig as deeply as possibly. Beginning to ask questions about the answers to your first question, in order to get to the essence of your idea. The core essence of your business idea or brand understands what your product or service is and also what it is not. I highly recommend reading "The Old Rules of Marketing are Dead" by Timothy R. Pearson. He lays out criteria that a core essence must meet in order to transcend to the next level of positioning that product or service.
Whether you are inventing, re-inventing or just contemplating your product or service, you always have to be mindful of the purpose.
What drove this fleeting idea to fruition? Passions only go so far in all aspects of life but finding purpose gives way to the awe of an idea and brings it meaning.
Have you thought about these first two questions? Taking time to cultivate and grow an idea into a product or service always being mindful of its essence is hard, but like Theodore Roosevelt said, “Nothing in the world is worth having or worth doing unless it means effort, pain, and difficulty”.
After answering the first two questions in depth, the others may seem effortless to answer. Defining a target audience might feel constraining to you, but just remember that you’re not excluding anyone; you’re choosing where to spend your time and efforts. Selecting a target audience will help save you resources. Focusing on a portion of the people who might be interested in your products will allow you to communicate and engage with that segment more deeply.
Questions or comment about this article? Contact the author, Paula Kersch, at email@example.com.
Here's a useful article about how to get FREE traffic as well as paid traffic by determining the most useful keywords and search terms for your website.
Sugarrae has become one of my favorite goto's for all things marketing. In this article she provides some useful resources and techniques for DIY web marketing focusing on Search Engine Optimization (SEO). This articles does not go into how to write a SEO optimized website...that's a different can of worms, but is a helpful resource for identifying the first steps in SEO success.
According to the Bureau of Labor Statistics employment of crafts people and fine artists is projected to grow by 5 percent from 2010 to 2020, slower than the average for all occupations.
The outlook is especially depressing if you are not keeping up with new technology: "Demand for illustrators who work on a computer will increase as media companies use more detailed images and backgrounds in their designs. Illustrators and cartoonists who work in publishing may see job opportunities decline as traditional print publications lose ground to other media forms."
Some trends are good for artists, "...consumers show continued interest in locally-made products", while others work against them, "...job growth for craft artists may be limited by the sale of inexpensive, mass-produced items designed to look like handmade American crafts."
Fine artists and craft artists account for about 14% of the employed in this country.
Competition for jobs in arts and crafts is expected to be strong because
there are more qualified candidates than jobs available. It is expected that only the most
successful craftspeople and artists will receive major commissions for their work.
"Competition among artists for the privilege of being shown in galleries is expected to remain intense, as will competition for grants from funders such as private foundations, state and local arts councils, and the National Endowment for the Arts. Because of their reliance on grants, and because the demand for artwork is dependent on consumers having extra income to spend, many of these artists will find that their income changes with the overall economy."
Over the ten year period between 2010 and 2020 employment is only expected to grow by 5%. That's not per year, that's over the entire 10 year period. While this might seem depressing for artists as a whole, those who learn to keep up with technological progress, both in sales and marketing and in the creation and distribution of their craft or art, will likely have a much easier time, not only making a living, but hopefully thriving.
Source: Bureau of Labor Statistics