UNDERSTANDING THE 5 PRICE POINTS YOUR COLLECTION NEEDS.
As artists and makers, we often have people telling us that our art is too expensive. Or that they can't afford it.
If you have any sort of relationship with your following, you know that it's hard to stick to your prices sometimes. As Makers, we want to give. We want to be generous and we want to be helpful and provide options for our customers.
To remedy this, we're going to break down what we recommend for artists launching your first collection.
Firstly, you'll need to establish a minimum you're willing to sell for and a maximum. This isn't limited to one or two art pieces (unless you want it to be) but this is about repurposing your art so that it's working for you, even if you're not constantly making new pieces.
In the business world, Opt-Ins are talked about a lot. Also called freebies or content upgrades. These items are valuable pieces of content or works that are traded in exchange for an email address. As artists, we can totally translate this. A lot of artists giveaway wallpapers or printables. But think about the few things that you're always asked about and try to turn that into a product or downloadable that can automatically turn passersby into buyers.
ENTRY LEVEL PRODUCT
This can be an ebook or something that you're comfortable charging a small amount for. For example, we have the Wake To Make Resource Library (linked below) and it's only a $1 to get in. You can also have lifetime access for $24. We update it a few times a month and are able to provide customized value to our clients and customers. For artists, this could be as simple as a small print, a custom digital hand-lettering or something of the like. Remember, little cost should equal value for the customer, but little effort on your part.
Your best seller is just that, the thing that sells the best. What design or drawing or size painting or print does the best for you, but is still really managable to sell a lot of? Think about what you LOVE to make over and over again and strive to make that your best seller. This will change and grow as you do, so also be flexible and don't marry one idea.
this is your bread and butter. For us, this is our branding packages. Everything we do in the previous categories primes our Makers for wanting to work with us. We love to be able to provide them so much value on the lower end that they're just dying to work with us on the higher end. For artists, this could mean originals, custom pieces, wall murals, etc. The bigger, better, have-to-have things that people are clamouring to you for.
No matter what your core product is, always have an up-sell. For us, once we establish branding, we offer a deal for continual, what we call retainer work. This keeps customers coming back and is only just a bit higher than our core product. For artists, this could mean courses, classes, or again, custom pieces.
Think about how you can create spaces for all of the different pricing levels of your customers. And make sure that you're providing value in all of those so they're always interested in going to the next level up.