Here’s my top 9 takeaways of the year! Use them to maximize your success in 2023.
Owner, Art Storefronts
1. You’re underpriced. Reaching proper pricing is one of the first challenges we help our newest members overcome. The most common culprit of artwork being undervalued? Pricing to your own budget rather than collectors’ budgets. Watch out! You are not your target market.
2. Your subject matter defines your revenue potential. What is the true size of your target market? Many struggling artists we work with have accidentally painted themselves into a corner by creating work for an audience of only a few thousand potential buyers. This doesn’t create enough opportunity to grow a sustainable business.
3. The most successful artists and photographers embrace experimentation. One thing we’ve found in common among nearly every artist on Art Storefronts selling over $100,000 a year? They freely and enthusiastically experiment with subject matter. They jump on trends, get frequent feedback from their audiences, and are always looking for the next “lightning connection” niche. This flexibility is a great indicator of success.
4. Lead generation continues to be underestimated. How many email addresses have you collected from fans of your work in the past 30 days? Our case studies have found a good target number is about 500. If you aren’t at this level yet, working towards it is likely the single best thing you could be doing for your business. Moving your social media audience onto your email list is the only way to make sure no algorithm changes or even complete platform shutdowns can affect your ability to build relationships with your fans and buyers.
5. Merchandise is key! This continues to be a tough pill to swallow for many but I can’t say it enough – YOU NEED TO BE SELLING FINE ART MERCH! Art buyers are rarely in the market for wall art, but they are always in the market for beautiful fine art merchandise like tote bags, mugs, and coasters. Our data is clear: today’s tote bag buyer comes back when they need high-end wall art. Don’t underestimate these sneakily strategic products.
6. “Romance marketing” – or content that educates and entertains your audience – is a major booster of perceived value. In other words, when you use social media and email marketing to reveal your artistic processes, inspirations, struggles, and discoveries – you help your audience better see the talent and hard work behind every new print or piece.
7. No collector list, no business. Only sell your art via channels that don’t give you buyer information if you absolutely must. It is a major limiter to future growth and you deserve to know who’s buying your work so you can build lasting relationships with them.
8. Instagram Reels were the exposure opportunity of the year. Did you focus on them? If not, be sure to course correct quickly while the easy exposure is still there!
9. Running promotions at the right times is the single greatest revenue generator. Art does not sell randomly, it sells during reliable periods of year – often anchored by holidays like Mother’s Day, Black Friday, and Christmas. Be sure to prepare for these high revenue times with a properly-executed sale.
Early access to learnings like these are why Art Storefronts members continue to sell more, faster.
We are obsessed with solving the starving artist problem, and give away everything we know about selling art to our 8,000+ members on a daily basis.
From being alerted to upcoming art-selling opportunities, to using the EXACT social media and email language we’ve learned works, the difference Art Storefronts makes will have you wishing you joined years ago.