For whom are you creating your products, and how are your customers' shopping habits affected by the current economy? What are they willing to spend for?
Do we have to go there? Ah, yes. It's a stinker of a question, but that's why Market Insider is calling this a challenge. Your collective sighs and groans can be heard from Honolulu to Nashville, from Seattle to Miami.
Aren't you making your art for EVERYONE to love as much as you do?
Well, O.K., Market Insider will indulge you for just a moment, because we're all friends here. Here's your hug. You're fabulous.
Now let's get a grip on the reality of the marketplace, especially since we're in the business of marketing fine crafts to galleries, museum stores, guild shops, craft retailers, etc. The "end user" of your "product" has a story - a household, a lifestyle, values, emotional needs, standards, etc. Even though you sell (or want to sell) wholesale to retailers, the ultimate destination for your artwork is a person somewhere who hopefully will cherish it.
What need will your art product fill for that person?
Can you visualize your ultimate customer? On whose neck is that necklace hanging? What's she wearing it with? Whose table is graced by your platter? In what home is the pedestal supporting your sculpture?
The more you know about your ultimate customer -- and how he or she is reacting to the recession -- the better you'll become at refining your product development and marketing. That's not to say that you should deal in stereotypes: It's likely that your biggest fans will come from all different walks of life. But often there will be some thread, some story line, some education or experience, some urge or other dynamic that will tie them all to you and their appreciation for your artwork.
This isn't psychology -- Market Insider lacks that type of credential. What you're looking for is the story behind the sale.
So ponder this: How would you design and sell your art product for the harried soccer mom who has milk prices on her mind? For the boyfriend who's not ready for the diamond but wants to give a gift that speaks of commitment? For the new college grad getting started in a first apartment? For the tourist who wants something to show off back home? For the retired couple who have downsized into their empty-nest home and finally can buy for themselves - and the grandkids. For the secretary who shops for the corporate executive who gifts to his top managers but is staring down a tighter-than-ever budget? For the Wall Street broker and art collector who used to be sitting comfy but who is cautious right now?
You see? You may design for "everyone" but "everyone" does not shop in the same venues or galleries, just as "everyone" doesn't download the same music or go to the same parties or share spending priorities.
Price point, design, size, color, function, motif, materials, quality -- all of these can establish your product's appeal within certain populations of customers. By and large, the recession doesn't change their tastes - just their ability to indulge their tastes.
Some of your customers can afford to buy despite the recession. Some will want your particular work so badly they'll brown bag for weeks to save up for it. Some will covet, but right now, will buy only to fill needs, or to gift for closest family, weddings and birthdays. Some will splurge for the right piece that "goes with everything." Many will still buy art products, but will choose smaller items, or will buy only items they perceive to have "good or lasting value." Some will buy only "functional" items right now, or only what they can "justify." And yes, gulp, let's acknowledge it: Some aren't spending at all right now (which means we go looking for new markets while we wait for the old to rebound).
So, what do you know about your current and potential customers and markets?
-- Try to make a list of the key customer "types" that your art products appeal to right now.
-- What "needs" do your products potentially fill for them?
-- Can your products potentially fill additional needs for a type of customer you don't currently serve? Where else (or with whom) can you "see" your art?
-- If you need to, ask the retailers/galleries that sell your work to describe for you some of the types of customers for whom they think your work has appeal. (Many do think about it before they decide to carry your work.)
-- Go scouting in a local museum gift shop or craft store: Who stops to examine or fondle products similar to those you make (or your products, if you're lucky enough to be represented there)? Watch which items elicit reactions and sales. Take note!
Keep your list: We'll come back to it soon.
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