The 10-80-10 rule applied to sales, proposes that 10% of your audience will buy from you regardless, they come ready to buy, they want what you have.
Another 10% will never buy from you, even though they are engaging with you, they are not buyers, they have other reasons for asking for information such as doing research.
Then 80% are open to buying under the right circumstances, they could be persuaded. They represent potential. So how do we unlock the potential and get you the revenue you desire?
Here are 7 tips that you can implement easily to help you increase sales:
Tip 1: Get organized
If you want real success and growth in your art business, you need to get organised. One of the easiest ways of doing this is to move your inventory management online - this can literally be your saving grace. The following can be easily uploaded and stored:
artworks with each work's relevant information, location, provenance, condition, etc. in one place
artists' information, bio, cv, artist statement, press coverage, videos, and images
detailed client information - including their purchase history
Artfundi software will save you time and money and ultimately your sanity.
Tip 2: Clearly define who your audience is
Knowing your ideal target market is key to success. Try and form a picture in your head of what they look like. Here are a few questions to ask - write the answers down and try and visualise them as an actual person:
Make sure the persona above is reflected in your social media platforms.
Tip 3: Build good, solid relationships
Building relationships with both artists and collectors/buyers is key to growing your art business. With Artfundi software you can store and keep track of artists’ contracts and all pertinent information. You can also profile collectors and list when and which artworks were bought.
Tip 4: Use a hybrid business model approach
A hybrid business model is one that uses multiple channels and avenues to reach clients and connect with new prospective clients. In the last year, Covid 19 has expedited the move to a digital art world as more and more collectors and art buyers are looking online for their art. It is pivotal not only to have an online presence but to have a really good one at that. This allows you to connect with a global audience as well as your existing gallery clientele. Artfundi has an easy to use, a software platform that allows you to create an online presence as well as store all relevant information pertaining to your art business online - accessible any time and from anywhere!
Tip 5: Content is King
Create relevant and updated content for social media that speaks to the person as identified in Tip 4. Capturing leads….Write blog posts and articles that are specific, engaging and that will connect with your potential buyer. Post at least 2x a week. Artfundi software allows you to:
create, queue, and publish blogs.
add live streaming and 3D content with very little hassle
attach news posts, blogs, videos, and images to artists’ information.
Tip 6: Keep it consistent and creative!
It is important that any marketing paraphernalia used like your website, wall cards, your newsletter, communication, etc. fits in with your gallery brand. With Artfundi software, you can create beautiful, elegant wall cards, choose one of our contemporary website templates, and create a perfect catalog -ready to send to a collector with a touch of a button.
Tip 7: Stay abreast of technology
Covid 19 has expedited the role of technology in art businesses across the world. It is important to keep abreast of changing technological trends. For instance, virtual exhibitions have become the new normal. More and more collectors are choosing to buy art online. Host interactive virtual exhibitions and capture and engage with collectors through virtual exhibitions. This facilitates attracting new audiences and engaging with them in a more intimate way. Artfundi software’s online viewing rooms allow you to host interactive media-rich exhibitions with the option of adding embeddable media like 3D virtual tours. Artfundi’s Private Viewing Rooms allows you to host private VIP events and viewings and an opportunity to share the works securely with your clients.
Good luck with growing your art business!