Buongiorno!
Artists who have people craving their art have figured out an important part of selling.
These artists have figured out the psychology of selling.
Maybe not all of the psychology, but they have mastered one layer of psychology.
There are many layers to the psychology of selling.
The one I'd like to help you with today is the scarcity factor.
Maybe not all of the psychology, but they have mastered one layer of psychology.
There are many layers to the psychology of selling.
The one I'd like to help you with today is the scarcity factor.
It's called scarcity buying because there are few items available and if you don't buy now it will be gone.
I'm talking...
Going, going, gone!
Sold, to the lovely lady in the blue dress?
But how can you create this kind of austerity?
Let's look at these 2 Factors more closely:
1. Don't flood the market with your art.
The internet has created an avalanche of artists hocking their wares online.
The internet has been great for artists. Until recently. I believe now the internet is hurting artists.
It hurts artists because the market has become saturated. There is such overload of art online, that now you get lost among the mountain heap of artists.
How can you ever stand out in this crowded market online? It's hard but not impossible.
Online marketing is a huge subject, so huge that I'll tackle that subject on another day.
What I would like you to think about doing is the opposite of what everyone else is doing.
Do the opposite so that you stand out.
That is, don't flood the market with your work.
You can still sell online, but with restrictions.
You will need to set a restriction to how much art you put out.
Also a time limit to the amount of time it stays out there.
When you set a time limit, and dribble out a painting here and there, people will start forming a line around your website.
They will anxiously await, ready to pounce upon the next available painting.
They will wait with excited anticipation because you will create for yourself a unique business.
A business that puts out only quality paintings, in short supply.
It sounds counter-intuitive. But it works.
It's the old supply and demand way of marketing.
When the supply starts to dwindle, people become hyper anxious to get their hands on some.
A word of caution though, in order for it to work you must consistently supply unique and quality work.
If the work gets sloppy, cheap, or unoriginal it will lose it's magic.
Another caution is if people sense it's false scarcity.
If you say it's one of a kind and then you keep pumping out the exact model of the last painting over and over again, then it's no longer rare.
If you say that this collection will only be out this fall and won't come out again until next fall, then you must stick to your word.
You must always do what you say you are going to do and stick to it. If you go back on your word than the customer will never believe you again.
Don't think this method will work?
Take a look at QVC. They use scarcity all of the time. They do it really, really well too. That's why they are so popular.
QVC puts a timer on their goods. You have to buy in the time the product is being marketed. Usually you have 30 minutes to buy.
Then they take it away.
The also tell you, that the item won't be sold again until next season or that they don't know when it will return.
You are taking your chances if you don't buy now.
Or they are giving a special offer only given in that time slot. If you wait the price will go up.
2. Sell limited Editions and Rare Collections.
You can do this with any art or craft. Just make a series of paintings or crafts in one particular style, and don't make anymore.
Make it extra special by giving an extra special name to the series.
You can also make it special by putting something extra special on the work to define it.
I've used gold leaf on a series of paintings. I specially framed these paintings in antique ornate frames.
I called this collection my "gilded collection" and I've never made anymore. All were sold. If ever I get famous, those paintings would be rare because they are "one of a kind".
Even if I don't get famous, those paintings are special. My best collectors own them. They feel like they have something very unique.
And they do have a unique painting. These paintings are unique because the other paintings they've collected from me don't have that extra touch of gold on them.
You don't have to be famous for your clients to feel that they have a priced possession.
EBay uses the scarcity method as well.
Ebay is so popular not only because you can get good prices on items, you can find rare products on EBay and the products are on auction.
It's the combination of limited items, up for grab, in only a certain time slot.
The same Ebay auction strategy can be used in your individual online business.
Create anticipation.
Make them wait for your next painting.
I'll tell yah one thing, your art will be hard to keep around!
What if a painting doesn't sell?
Take it off the market, and save it for another day.
Don't leave it hanging around where people can say "Oh, that old thing".
You will never be able to sell it if it is left lying around.
It will become Taleggio (A stinking Italian cheese!)
Instead, take that piece and refine it if necessary. If it is still a great painting put it in the pile of rare paintings to get sold at a later date.
You can use that painting in a series of paintings of the same style, or subject matter and create another rare collection.
Try out a bit of scarcity selling and see your business grow.
Scarcity selling will transform mediocre sales and bored customers into frenzied, lusting clients, who just can't seem to get enough of your art.
If you're looking for more great ideas for selling your work...
I'm talking...
Going, going, gone!
Sold, to the lovely lady in the blue dress?
But how can you create this kind of austerity?
- Don't flood the market with your art.
- Provide limited editions and rare collections.
Let's look at these 2 Factors more closely:
1. Don't flood the market with your art.
The internet has created an avalanche of artists hocking their wares online.
The internet has been great for artists. Until recently. I believe now the internet is hurting artists.
It hurts artists because the market has become saturated. There is such overload of art online, that now you get lost among the mountain heap of artists.
How can you ever stand out in this crowded market online? It's hard but not impossible.
Online marketing is a huge subject, so huge that I'll tackle that subject on another day.
What I would like you to think about doing is the opposite of what everyone else is doing.
Do the opposite so that you stand out.
That is, don't flood the market with your work.
You can still sell online, but with restrictions.
You will need to set a restriction to how much art you put out.
Also a time limit to the amount of time it stays out there.
When you set a time limit, and dribble out a painting here and there, people will start forming a line around your website.
They will anxiously await, ready to pounce upon the next available painting.
They will wait with excited anticipation because you will create for yourself a unique business.
A business that puts out only quality paintings, in short supply.
It sounds counter-intuitive. But it works.
It's the old supply and demand way of marketing.
When the supply starts to dwindle, people become hyper anxious to get their hands on some.
A word of caution though, in order for it to work you must consistently supply unique and quality work.
If the work gets sloppy, cheap, or unoriginal it will lose it's magic.
Another caution is if people sense it's false scarcity.
If you say it's one of a kind and then you keep pumping out the exact model of the last painting over and over again, then it's no longer rare.
If you say that this collection will only be out this fall and won't come out again until next fall, then you must stick to your word.
You must always do what you say you are going to do and stick to it. If you go back on your word than the customer will never believe you again.
Don't think this method will work?
Take a look at QVC. They use scarcity all of the time. They do it really, really well too. That's why they are so popular.
QVC puts a timer on their goods. You have to buy in the time the product is being marketed. Usually you have 30 minutes to buy.
Then they take it away.
The also tell you, that the item won't be sold again until next season or that they don't know when it will return.
You are taking your chances if you don't buy now.
Or they are giving a special offer only given in that time slot. If you wait the price will go up.
2. Sell limited Editions and Rare Collections.
You can do this with any art or craft. Just make a series of paintings or crafts in one particular style, and don't make anymore.
Make it extra special by giving an extra special name to the series.
You can also make it special by putting something extra special on the work to define it.
I've used gold leaf on a series of paintings. I specially framed these paintings in antique ornate frames.
I called this collection my "gilded collection" and I've never made anymore. All were sold. If ever I get famous, those paintings would be rare because they are "one of a kind".
Even if I don't get famous, those paintings are special. My best collectors own them. They feel like they have something very unique.
And they do have a unique painting. These paintings are unique because the other paintings they've collected from me don't have that extra touch of gold on them.
You don't have to be famous for your clients to feel that they have a priced possession.
EBay uses the scarcity method as well.
Ebay is so popular not only because you can get good prices on items, you can find rare products on EBay and the products are on auction.
It's the combination of limited items, up for grab, in only a certain time slot.
The same Ebay auction strategy can be used in your individual online business.
Create anticipation.
Make them wait for your next painting.
I'll tell yah one thing, your art will be hard to keep around!
What if a painting doesn't sell?
Take it off the market, and save it for another day.
Don't leave it hanging around where people can say "Oh, that old thing".
You will never be able to sell it if it is left lying around.
It will become Taleggio (A stinking Italian cheese!)
Instead, take that piece and refine it if necessary. If it is still a great painting put it in the pile of rare paintings to get sold at a later date.
You can use that painting in a series of paintings of the same style, or subject matter and create another rare collection.
Try out a bit of scarcity selling and see your business grow.
Scarcity selling will transform mediocre sales and bored customers into frenzied, lusting clients, who just can't seem to get enough of your art.
If you're looking for more great ideas for selling your work...
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Ciao Bella!
Naomi
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