Expand Your Market Advice for Maintaining, Growing Your Customer Base
This is the time of year those of us not traveling the art show circuit to warmer climates (lucky devils) are focusing on studio production, schedule planning, and things our customers never see related to making and marketing our art.
It is a time when we review what we did last year and ask ourselves what worked and what did not. It is a time when we make changes to our business model to make it more profitable and to sustain (and/or grow) our customer base.
In January’s issue, I wrote about researching shows and making sure they fit our art and our goals as businesspeople. In this issue, my focus is maintaining and hopefully growing our customer base.
All That She Wants
The first thing to remember is what we make is not a need — it is a want. I know and agree that the human spirit needs art to communicate, elevate, inspire, and bring joy and wonder.
But the reality is that people need food, shelter, power, and water. When push comes to shove, our work comes after a lengthy list of bills and obligations our customers must take care of before they purchase from us. In the game of survival, what we make and do are expendable, especially when there are tough economic times.
When looking at the health prospects of our business, each of us must address how we get over this hurdle. The answer comes back to how we keep customers interested enough in what we do that we become a priority for how they spend their fun money.
Some of us focus on making functional art. It is often easier for customers to justify purchasing our work when it is something they can use like a jewelry box, cutting board, soup cup, or quilt.
Others focus on price points and develop a collection of items people in all economic strata can afford, even in tough times. They maintain pricier items for those who can afford them but are not afraid to make less expensive items for those who have less expendable income.
Still others make it a point to continually bring in new items to pique the interest of their current customers and appeal to new ones. All of these are important ways to get our existing customers to prioritize us when determining what to do with their limited dollars.
Capitalism (not a dirty word) requires changing and adapting to trends and our customers’ interests. We should strive to always be relevant.
A Million Dreams
Keeping our existing customers is critical. They provide us with additional sales but also open the door for us to meet new customers through word of mouth.
Growing our customer base is at least as important. There are only so many mugs my existing customers are going to buy. When the wall space is full, most people stop buying paintings and photography. Even the most committed jewelry addict eventually reaches their limit.
To maintain and grow as a business, we must continually look at not just reinventing ourselves but expanding the market we reach. One way to grow your market is by changing your show schedule and/or adding additional shows to your typical routine.
This approach can be risky. Knowing when you have saturated an existing market is never a perfect science. None of us want to give up a consistently good show.