Season 5, Episode 10: Discounting Your Work
In this episode, Peter and Tom discuss the situations when it may be appropriate, and even beneficial, to discount your work.
Wouldn’t it be great if all of our art work found homes straight away? However, in reality, that is not usually the case. Can offering a discount stimulate sales and what other points are there to consider when doing so?
In the first part of the episode, Tom and Peter discuss that feeling of work mounting up, whether it be pieces that were perhaps demonstrations or practice pieces, or just those pieces which have not sold and how an ever increasing pile of work can start to feel overwhelming. Tom talks about the “Bonfire Studio sale” which he was having at the time of recording and how this was needed to create both physical and emotional space for new work. Tom talks about his careful consideration of prices, discounts and the reasons why he chose to have this big sale at this time. Both Peter and Tom discuss the importance of considering how you market any discounts and also thinking about things from the point of view of, not only potential new customers but also previous customers.
They also discuss other times you may consider discounting your work, perhaps in direct selling circumstances such as at art fairs and festivals but also how to judge when this is appropriate and how to deal with people who may be trying to push your prices down a bit too much.
In part two, Peter and Tom discuss previous and loyal customers and how you might choose to reward their loyalty with a discount. In the same vein, they discuss the “wiggle room” you may want to give a gallery you are working with, again to reflect their loyalty and support.
This week’s takeaway…however you choose to offer a discount, make sure you take the time to think through when, how and why you are doing so. Be clear about your reasons so you can justify them if need be, ensuring you protect those valuable relationships you have already established with your customer base, galleries and supporters.
Photo by Tamanna Rumee on Unsplash
This Podcast is sponsored by Rosemary & Co Brushes, Jackson’s Art Supplies and Search Press publishers.
For more information please visit Rosemary & Co Brushes: www.rosemaryandco.com
Jackson’s Art supplies, blog: www.jacksonsart.com/blog
Search Press publishers: searchpress.com
