At every workshop presented by The Arts Business Institute, we teach pricing strategies. This topic is one of the most challenging and confusing for artists, and is essential to the health of your small business.
We asked about the unique nature of their technique, how they explain the value of their work, and how they market and sell.
This type of proactive approach toward managing a legacy simplifies collecting, and shares information from a trusted source.
Consider your target customer carefully to identify how they think, and what they perceive to be a problem or a need.
There are strong emotional reasons for customers to make that purchase of your handmade work.
If you are a hobbyist who wants to make money, you must either hire someone to be the business side of your brain, or you must become a business owner yourself.
Matt keeps a production calendar. He knows his monthly production capability, and schedules orders so that he has time to make and ship them on time.
Dropping your prices sends a message to shoppers that can devalue your brand, and create the perception that your handmade work isn’t worth your original prices.
Here’s another reason that a price point spread matters: the very same customer may be willing to pay a lot more for your work for certain reasons.